AML / KYC Policy
The EXCHANGA.CC Anti-Money Laundering Policy and Know Your Client (the “AML / KYC Policy”) is necessary to prevent and reduce the possible risks of EXCHANGA.CC being involved in any type of illegal activity.
Given the requirements of both international and local regulations, EXCHANGA.CC should implement effective internal procedures and mechanisms to prevent money laundering, terrorist financing, drug and human trafficking, the proliferation of weapons of mass destruction, corruption and bribery, and to take action in case of any suspicious form. activity from your users.
AML / KYC policy covers the following issues:
Rules and verification procedures.
Responsible Compliance Officer.
1. Rules and Verification Procedures
One of the international standards for the prevention of illegal activities is customer due diligence (“CDD”). According to the CDD, EXCHANGA.CC establishes its own verification procedures within the framework of anti-money laundering standards and the Know Your Client framework.
1.1. Identity check
The EXCHANGA.CC identity verification procedure requires the User to provide EXCHANGA.CC with reliable independent source documents, data or information (for example, national identification number, international passport, bank statement, utility bill). For such purposes, EXCHANGA.CC reserves the right to collect User identification information for the purposes of the AML / KYC Policy.
EXCHANGA.CC will take steps to verify the authenticity of documents and information provided by Users. All legal methods will be used to double-check the identity, and EXCHANGA.CC reserves the right to investigate certain users who have been identified as risky or suspicious.
EXCHANGA.CC reserves the right to verify the identity of the user on an ongoing basis, especially when his identification information has been changed or their activity seemed suspicious (unusual for a particular user). In addition, EXCHANGA.CC reserves the right to request updated documents from users, even if they have already passed an identity check.
After verifying the User’s identity, EXCHANGA.CC may be removed from potential legal liability in a situation where its Services are used to carry out illegal activities.
1.2. Card confirmation
Users who intend to use payment cards in connection with the EXCHANGA.CC Services must pass a card verification in accordance with the instructions available on the EXCHANGA.CC Website.
2. Compliance Officer
Compliance Officer is a person duly authorized by EXCHANGA.CC whose responsibility is to ensure the effective implementation and application of the AML / CFC Policy. Responsibility for controlling all aspects of EXCHANGA.CC in the fight against money laundering and the financing of terrorism lies with the responsible officer, including:
but. Collection of user identification information. b. Establishing and updating internal policies and procedures to complete, review, submit, and store all reports and records required by applicable laws and regulations. with. Transaction monitoring and investigation of any material deviations from normal activities. e. Implementation of a records management system for the proper storage and retrieval of documents, files, forms and magazines. e. Updating risk assessments on a regular basis. e. Providing information to law enforcement agencies in accordance with the requirements of applicable laws and regulations.
The compliance officer has the right to interact with law enforcement agencies that work to prevent money laundering, terrorist financing, and other illegal activities.
3. Transaction Monitoring
Users are known not only by verifying their identity (who they are), but, more importantly, by analyzing their transactional models (what they do). Therefore, EXCHANGA.CC relies on data analysis as a tool to assess risks and identify suspicions. EXCHANGA.CC performs a number of regulatory compliance tasks, including data collection, filtering, record keeping, investigation management and reporting. System functionality includes:
Regarding the AML / KYC policy, EXCHANGA.CC will control all transactions and reserves the right to:
ensure that suspicious transactions are reported to the appropriate law enforcement authorities through a compliance officer;
request from the User additional information and documents in case of suspicious transactions;
suspend or terminate the User Account if EXCHANGA.CC has reasonable suspicions that such User is engaged in illegal activities.
The list above is not exhaustive, and the compliance officer will monitor user transactions daily to determine whether such transactions should be reported and considered suspicious or considered to be bona fide.
4. Risk Assessment
EXCHANGA.CC, in accordance with international requirements, has adopted a risk-based approach to combating money laundering and the financing of terrorism. By adopting a risk-based approach, EXCHANGA.CC can ensure that measures to prevent or mitigate money laundering and terrorist financing are proportionate to the risks identified. This will allow you to allocate resources in the most efficient way. The principle is that resources should be allocated in accordance with priorities so that the greatest risks are given the closest attention.