KYC & AML

Money laundering

Money laundering is a process of obfuscating the source and true ownership of money or other property obtained through illegal activity (or exchanged for such) by disguising it as legitimate funds. This involves concealing the origin, disposition, location, or movement of said money or property through activities such as conversion, transfer, receipt, possession, and/or use. Money laundering can also involve helping persons involved in criminal activity avoid legal repercussion for their actions. The practice of money laundering often transcends national boundaries, which is why international collaboration between countries is essential for successfully combating its proliferation and implementation. Such collaboration between states is a vital component in preventing the illegal circulation of money across boundaries.

You agree to abide by all applicable anti-money laundering and counter-terrorist financing laws and regulations, including but not limited to the AML Policy, in order to help protect our state’s economy from criminal capital and thwart the proliferation of crime. Our internal policies and specialised measures have been developed in coordination with national and international organisations to combat money laundering and terrorism financing worldwide. By registering an account on our Website, you agree that you will be compliant with these laws and regulations.

You agree that you do not have any knowledge or suspicion that the funds used to fund your account, present, past, or future have been obtained from an illegal source or are in any way related to money laundering or other illegal activities which are prohibited by applicable laws or instructions of any international organisations. Furthermore, you pledge to provide us with any additional information we deem necessary in order to comply with Anti-Money Laundering Laws and Regulations. In order to maintain compliance and ensure safety, we collect and retain your identification documents as well as records for all transactions associated with your account. We will also closely monitor suspicious transactions within your account and those made under special conditions.

We retain the right to deny any User from performing a transaction at any point if we have cause to believe that the transaction may be related to money laundering or other criminal activity. We are not obligated to inform the User that this behaviour is suspect and that information has been reported to applicable law enforcement agencies. In order to comply with our Anti-Money Laundering Policy, we are capable of conducting preliminary and continual identity evaluations for Users based on the potential risks involved with each individual User.

Verification

We will require you to provide a minimal amount of data to verify your identity. This data may include your full name, date of birth (for individuals), residential or legal address, and source of origin of any funds to be deposited in our account. In order to confirm the authenticity of this information, we may request that you submit a valid passport or other accepted form of identification containing your name, date of birth and photograph. This document must be issued by a recognized national state. Furthermore, we will record and retain all documents used for identity verification along with details on what methods were used and their results. We are also obligated to check your identity against any authorised government databases or independent agency lists for suspected terrorists.