Crypcie Service (hereinafter referred to as the Service) adheres to the AML (Anti Money Laundering) policy – an international policy to combat the laundering of funds obtained by criminal or illegal means, as well as KYC (Know Your Customer) policy.
AML/KYC-rules of the Service are intended to prevent and reduce possible risks of involvement of the Service in any illegal activities.
The Service takes a firm position in the issue of illegal activity and takes all possible and available measures to prevent attempts of illegal trade, financial fraud, money laundering and other illegal actions with the use of services of our Service.
Using the Service, the user agrees with AML-rules, User Agreement and Service rules.
AML (Anti-Money Laundering) – is a set of legislative and regulatory measures aimed at preventing illicit income and its introduction into the legal economy.
The main purpose of AML is to detect and suppress activities related to money laundering and terrorist financing.
AML-check is a tool to verify cryptocurrency and its connection to illegal activities. It allows you to see detailed information about the risk level and sources of origin of funds. Such verification is conducted for security purposes and to minimize the risks of using cryptocurrency.
The up-to-date version of the AML-Rules is publicly available on the website of the Service and comes into effect from the moment of its publication on the Service’s website. AML-rules can be changed by the Service management unilaterally without additional notification of Users.
All transactions of the Users of the Service are subject to AML-checking on a mandatory basis. Exclusively the data of the Service regarding such verification are the primary source in resolving the situation.
The user is obliged to independently carry out AML-check of funds and analyze the risk level of funds before transferring funds as payment for the Order.
The Service accepts funds on different centralized exchanges (service-merchant), such as: WhiteBit, HTX, Binance, Bitexbit.
If the AML risk on a transaction sent by a user exceeds the tolerance value set by one of these platforms (High-Risk Keys: Dark Service, Stolen Coins, Fraud Shop, Illicit Actor/Organization, High-Risk Jurisdiction, Lending Contract, Dark Market, Illegal Service, Mixer, Ransom, Scam, Terrorism Financing, Gambling, Fraudulent Exchange, Sanctions, Child Exploitation, Enforcement Action), the user’s funds may be blocked by the merchant service under the international anti-money laundering policy.
To unblock funds, you may need to go through the AML/KYC procedure, the details of which depend on a case-by-case basis, on an individual basis.
KYC (Know Your Customer) – is a procedure used by financial institutions to identify and verify the identity of their customers.
The purpose of KYC is to prevent the use of a company’s services for illegal purposes such as money laundering and terrorist financing.
KYC procedures are an important tool in preventing financial crime and ensuring the security and transparency of financial transactions.
If it is necessary to undergo the AML/KYC procedure, the Service undertakes to request all documents necessary for the procedure.
The procedure may inсlude the following: KYC (verification of identity), Source of funds (confirmation of the source of funds), Proof of funds (confirmation of availability of funds), SOW (confirmation of the source of income).
The Service can request from the User to pass identity verification (AML/KYC), as well as providing video, photo, documentary evidence of the origin of funds.
The request and further communication is carried out exclusively through the email specified by the User in the Order. In case of such a request from the Service, without verification and provision of the necessary data, the funds will be blocked until the User provides all the necessary information and completes the relevant checks.
In case of inquiry of law enforcement bodies concerning the blocked funds, the Service has the right to withhold funds until the final resolution of the situation by law enforcement bodies.
If as a result of carrying out the necessary verification procedures and checks, the Service discovers that funds have been blocked due to sanctions measures, such funds may be blocked until such sanctions measures are lifted.
The decision to unblock funds is made by the merchant service that accepts the funds.
The service does not guarantee unblocking of funds after AML/KYC procedure.
The service has the right to charge an additional commission for the work done, lawyer’s consultations during AML/KYC documents submission for the merchant service, AML officer involvement.
