The Crypcie Service (hereinafter referred to as the Service) adheres to the AML (Anti Money Laundering) policy — an international policy aimed at combating money laundering obtained through criminal or illegal means, as well as the KYC (Know Your Customer) policy.
The AML/KYC rules of the Service are designed to prevent and reduce potential risks of the Service’s involvement in any unlawful activity.
The Service takes a firm stance on illegal activities and takes all possible and available measures to prevent attempts of illegal trading, financial fraud, money laundering, and other unlawful actions using the services of our Service.
By using the Service, the user agrees to the AML rules, the User Agreement, and the Service’s rules.
AML, Anti-Money Laundering — is a set of legislative and regulatory measures aimed at preventing illegal income and its integration into the legitimate economy.
The primary goal of AML is to detect and prevent activities related to money laundering and terrorism financing.
An AML check is a tool for verifying cryptocurrency and its connection to illegal activity. It allows for viewing detailed information about the risk level and the sources of the funds. This check is conducted for security purposes and to minimize the risks of using cryptocurrency.
The current version of the AML rules is publicly available on the Service’s website and takes effect from the moment of its publication. The AML rules may be amended unilaterally by the Service’s management without additional notification to Users.
The Service accepts funds for various centralized exchanges (Service-merchant), such as: Kraken, Bitexbit, Binance, OO1kBOT.
The user undertakes to independently carry out an AML check of the funds and assess the risk level of the funds before transferring funds as payment for the Order, or to contact the Service operator to request an AML check of the funds. Preliminary AML screening is carried out using the Crystal Intelligence service.
All transactions of the Service’s users undergo an AML check as a mandatory procedure.
Only the Service’s data regarding such a check is the primary source in resolving various situations.
If the Risk-Score of an incoming transaction exceeds 35% in total, or any individual high-risk key exceeds 5%, the exchange operation may be suspended for AML control and KYC/SoF/PoF/SoW procedures.
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.
Risk-Score analysis of incoming transactions is conducted by the Service-merchant.
To unlock the funds, KYC/SoF/PoF/SoW procedures may be required, the details of which depend on each individual case, and will be handled on a case-by-case basis.
KYC, Know Your Customer — is a procedure used by financial institutions to establish and verify the identity of their customers.
The goal of KYC is to prevent the use of a company’s services for illegal purposes such as money laundering and terrorism financing. KYC procedures are an important tool in preventing financial crimes and ensuring the safety and transparency of financial operations.
If the AML/KYC procedure is necessary, the Service is obligated to request all the necessary documents for the completion of the procedure.
The procedure may inсlude the following: KYC (Know Your Customer — client identity verification), SoF (Source of Funds — verification of the source of funds), PoF (Proof of Funds — verification of the availability of funds), SoW (Source of Wealth — verification of the source of income).
For the KYC verification procedure, documents verifying the identity and confirming the client’s place of residence may be requested.
For the additional SoF verification procedure, documents confirming the origin of the funds used by the client in the exchange may be requested.
As part of the KYC/SoF/PoF/SoW procedures, the user may be asked to provide video, photo, or documentary evidence of the origin of the funds.
The KYC/SoF/PoF/SoW procedures are conducted using the Sumsub service.
In the event of an AML case, requests and further communication will be conducted exclusively via 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 frozen until the user provides all the necessary information and the relevant checks are completed.
The decision on unlocking the funds is made by the Service-merchant after all necessary procedures have been completed.
Based on the results of the conducted check, the exchange Service will decide whether to continue the exchange or return the funds to the client.
In the event of a successful completion of the KYC verification by the Client and possibly additional SoF/PoF/SoW checks, the estimated time for conducting the verification may be up to 14 business days.
In case of a request from law enforcement agencies regarding blocked funds, the Service has the right to withhold the funds until the situation is resolved by the relevant authorities.
If, as a result of the necessary verification procedures and checks, the Service finds that the funds were blocked due to sanctions measures, such funds may be frozen until the sanctions are lifted.
The Service does not provide guarantees for the unlocking of funds after the completion of the AML/KYC procedure.
In the event of an AML case and the need for additional verification of funds, as well as KYC/SoF/PoF/SoW procedures, the Service may charge an additional fee of 5% of the exchange amount, but not more than 100 USDT (or the equivalent in another cryptocurrency).
