AML Policy

AML/CTF and KYC policies are rules and procedures that companies use to combat money laundering and terrorist financing. These policies help identify customers, verify their identity and financial data, and monitor transactions that may be linked to illegal activities.

AML (Anti-Money Laundering) is a process that prevents financial instruments from being used to legalize illegally obtained income. Companies that engage in financial activities must comply with AML regulations, including conducting customer due diligence, transaction monitoring, and reporting suspicious transactions.

CTF (Counter-Terrorism Financing) is a process that prevents the financing of terrorist organizations. Companies must conduct customer due diligence, transaction monitoring, and reporting suspicious transactions to prevent terrorist financing.

KYC (Know Your Customer) is a process that companies use to verify the identity and financial data of a customer. KYC procedures include collecting and analyzing documents, establishing the client's source of income, conducting compliance checks and monitoring transactions.

The purpose of AML/CTF and KYC policies is to prevent illegal activities in the financial sector and protect the company from potential risks. Proper application of these policies helps ensure the security of the business and clients, as well as maintain law and order in the financial sector.

AML/CTF Policy includes the following measures:

Identification of clients and verification of their identity. For this purpose, Ex-bank.cc may use various methods, such as requesting documents, conducting online checks, etc.;

Monitoring of client transactions to detect suspicious transactions. If suspicious transactions are detected, Ex-bank.cc has the right to suspend the client's transaction;

KYC Policy includes the following measures:

Collection of information about clients, including their personal data, source of income, etc.;

Verification and confirmation of client data through various sources;

Assessment of risks associated with the client and taking appropriate measures to minimize these risks;

Updating customer information in accordance with changes in their personal data.

To identify such transactions, the Ex-bank.cc exchange service uses specialized transaction verification services.

If the AML risk for a transaction exceeds 30%, it will be frozen, but in some cases, funds will be frozen if the risk score is less than 30%, and such transactions are considered individually. We approach each AML case individually and rely on many factors, the date of the transaction, the percentage of funds at the address, whether the risk score was "diluted" by other transactions, etc. The exchange office is not responsible for the return of funds associated with dangerous sources!

In case of violation of the AML / CTF and KYC Policy rules, the service reserves the right to:

1. Suspend the transaction;

2. Request from the user a photo or video with a document confirming the user's identity;

3. Request from the user a screenshot from the personal account of the cryptocurrency withdrawal wallet;

4. Block the account and any transactions related to the user, transfer to the financial control and/or law enforcement agencies at the place of registration of the Service;

5. Hold the user's funds until the incident is fully investigated;

6. Return digital assets only to the details from which the transfer was made or switch to other details, after a full check by the Service's security service, if it was possible to verify the legal origin of the user's funds;

7. Request other materials and documents from the user regarding the exchange.