Money laundering is the act of transforming money or other monetary instruments derived from any illegal activity into money or investments that look legitimate so that their illegal source cannot be tracked.

Procedures and methods

The purpose of some anti-money laundering measures and procedures that uses to identify such transactions is to ensure that customers that are using services are identified equally, by a single standard. This minimizes both our own risks and the risks of involving law-abiding customers in illegal actions of third parties. positions itself as a company that helps international organizations in the fight against money laundering. Therefore, we have implemented a set of client identification measures that help to track suspicious transactions in the system.

In order to minimize risks associated with money laundering and the financing of terrorist activities, we strongly object any transactions to third parties (that is, not identified ones). Each client, who has his own account is assigned to him, has the right to send or receive any payments using only his own accounts, whether these are accounts in electronic payment systems, bank accounts, and credit / debit cards. We have the right to refuse to conduct operations at any stage, in case the transaction seems to be in any way connected with money laundering or other criminal activities.

Following the KYC policy, we are entitled to identify the customer in the system. In this case, the client has to provide two documents.

  1. The first document is a state identification document that must have a client’s photograph. This includes national identification document or passport for travel abroad, driving license (for countries where the driving license is the primary identification document, for example, the US) or a local identity card (except corporate access cards). The second document we can request is an account that is no more than 3 month old, and has the full name of the client and the actual address on it. This can be a utility bill, an extract from the bank for an arbitrary period or any other document that indicates the full name of the client and the place of residence that he specified in the account profile.
  2. In addition, the identification provides confirmation of the client’s personal phone number.

After the identification, the account status automatically increases, and the client gets the opportunity to use all the functions of the system.

In order to prevent compromising confidential customer data, documents and information are downloaded through a special interface in the client’s account using a secure HTTPS protocol.

Service operator’s obligations to observe this policy

Service operator’s obligations to observe this policy Actions against the legalization and laundering of illegal funds:

  • keeping the history of the client’s operations for three years;
  • tracking and identification of suspicious transactions;
  • provision of information about the client and his transactions to law enforcement agencies on the appropriate official request;
  • suspending the suspicious transaction until the circumstances are clarified and the return of suspicious funds to the source account;
  • refusal to perform a suspicious operation.

If you have any questions, please contact us.