Política AML/KYC para garantizar la seguridad del servicio de intercambio de criptomonedas en línea y combatir el lavado de dinero
The AML / KYC strategy is a set of measures that are aimed at combating financial violations and fraud, money laundering, sponsoring terrorist organizations. The rules of this policy consist of two points, AML and KYC, the implementation of which allows you to ensure the stable operation of the online service and a high level of transaction security.
The concept of KYC stands for the concept of Know Your Customer ("know your customer"). This is a special approach that is based on the identification of users and allows you to identify in advance the persons who were involved in illegal activities. Also, this concept allows you to recognize attempts to deceive and provide users with deliberately false data at the time of registration. The effectiveness of this approach lies in verifying the identity of customers, identifying suspicious activity, information, and using international databases.
The concept of KYC is extremely effective in combination with the AML approach, which stands for Anti-Money Laundering (“measures against money laundering”). This policy allows resource specialists to track transactions, sources of funds, standardize financial procedures, and store and archive information about completed transactions.
Thus, the AML/KYC policy includes rules and regulations, as well as practical measures that allow you to recognize and predict risks, minimize negative consequences, and directly prevent illegal activities such as money laundering or investing in terrorism.
The implementation of the AML / KYC system is largely determined by the company"s internal policy for the exchange of cryptocurrencies. Data collection and analysis, as well as user support are carried out by the company"s specialists at all stages of the client"s interaction with the resource"s capabilities.
AML/KYC policy norms are fixed in the internal legal documents of the company. These documents take into account the norms of legal regulation at the state and international levels. The company takes into account international experience in combating economic violations and applies the most effective approaches to prevent money laundering and sponsoring terrorist activities. Also, the AML / KYC policy allows you to fight the spread of drugs, illegal weapons, and corruption. The AML / KYC policy allows you to effectively recognize suspicious actions of clients both when working with currency on the online service and at the time of registration.
The AML / KYC concept includes a number of activities that are aimed at working with the company"s personnel, namely:
- appointment of competent personnel with appropriate qualifications to implement measures that are able to prevent fraudulent activities, money laundering and other financial offences;
- briefing on the fixation of offenses that can be detected when monitoring the activities of clients;
- determination of the competencies of the management, which will allow to record and analyze the illegal financial activities of clients;
- training of the company"s specialists, which will allow the staff to effectively detect criminal schemes, record illegal activities and take adequate measures to combat financial offenses.
Godofexchange portal regularly updates the provisions of the AML / KYC policy to fully comply with this strategy with international standards. This approach makes it possible to increase the effectiveness of the means that the company"s specialists use when working to identify illegal activities and money laundering.
Also, the AML / KYC policy involves working with risks. Such risks are taken into account in advance, predicted, methods are developed to prevent the onset of negative situations or minimize the consequences.
Employees of the company also undertake to report facts of fraud or other illegal economic activities to the appropriate authorized law enforcement agencies. Also, the company"s specialists adequately respond to the response of law enforcement officers.
Basic principles of AML/KYC policy
The basis of the AML / KYC policy is to ensure the security of users and financial transactions, which is achieved through user identification at the time of registration on the portal. Thus, there is a certain list of procedures that the company"s specialists implement before starting cooperation with the user, namely:
- Carrying out the KYC procedure, which includes identification of the person through the provision of relevant documents by the user.
- Monitoring and accounting of user actions, including transactions, identification and tracking of suspicious activity that cannot be standardized.
- Notification of the company"s specialists about the verification procedures, appropriate staff training, training.
Customer identification is a complex procedure, the basis of the KYC principle, which allows you to check the user for involvement in fraudulent activities. KYC also allows you to determine whether the client is subject to international sanctions, is not included in the black lists of international organizations.
To identify the person at the time of registration of a new user on the Godofexchange portal , the administration requests documentation that will allow you to confirm your identity. This procedure is carried out by both individuals and legal entities. Identity verification is the basis for the security of the cryptocurrency exchange service according to the AML / KYC policy .
The main requirement of this policy is the conformity of the person to the declared personality. This means that if you try to provide deliberately false information, the client will be denied access to the company"s services. The relevance of the data is checked by the administration of the resource, so the client will be required to provide copies of state-issued identity documents, such as:
- internal civil passport;
- international passport;
- driver license;
- a bank card and additionally a photo of the owner"s face with the card.
This documentation is required to confirm the following information:
- Full Name;
- address of residence and registration;
- Contact details.
In the event that a person deliberately submits false documents or tries to impersonate another person, the resource administration has the right to freeze the registration process, deny the user access to the resource"s services, and transfer the information received to law enforcement agencies for further checks.
Also, the user needs to provide copies of documents in high quality. All inscriptions and photographs must be clearly visible, serial numbers of documents must be clearly visible. In the event that the quality of the copies provided is unsatisfactory, the administration will ask the client to provide the documentation again in a better quality.
The user"s personal data is stored on the portal. The administration undertakes to protect the user"s personal data, does not disclose information and does not transfer information to third parties, unless the circumstances established by law require it.
Compliance with AML/KYC policy by a company employee
To work effectively on measures to ensure the AML / KYC policy, the company"s employees undergo appropriate training and acquire the appropriate competencies. Also, in addition, employees are instructed and inquire about the updated norms of the law. Thus, an employee of the company becomes authorized to implement measures that ensure the operation of the cryptocurrency exchange portal, which makes it possible to effectively counter money laundering online.
Monitoring of customer transactions includes scheduled and unscheduled checks. Completed transactions are archived and stored on the resource. If suspicious activity is detected, the company"s specialists have access to the archives to carry out analytical activities.
Suspicious actions of clients can be non-standard transactions, hidden recipients of transfers, unconfirmed sources of funds. Any suspicious activity may be a sign of fraud or money laundering, therefore, it is subject to a thorough check by the resource administration. Thus, transactions are under the continuous control of the company"s specialists.
Forecasting and risk assessment
Risk is the probability of losses and the onset of negative situations and consequences, including in the financial sector. Online cryptocurrency exchange is associated with the following types of risks:
- Geographic - the client is located or belongs to territories with legislation that is unable to effectively manage the risks of money laundering or sponsoring of terrorism. Geographical risks include areas of application of sanctions by international organizations.
- The risk from the client is determined by the client"s belonging to a group of persons with significant political influence. This group also includes relatives and partners of these persons. A client who is blacklisted in the EU and the US and has previously been seen in illegal financial activities is considered unreliable.
- Money laundering - this risk is associated with cases of transactions performed by a third party, transactions without commercial reasons, use of non-standard amounts for the account, receipt of funds from different accounts in different amounts.
Thus, the resource does not provide cryptocurrency exchange services to persons who have been involved in illegal activities, are the objects of international financial sanctions, are classified as PEP persons, their relatives or partners, and are also suspected or previously suspected of money laundering, fraud, investing in terrorist activities .
Risks also include digital factors, such as the transmission of knowingly false information, the introduction of malware, hacker attacks. To reduce the risk of digital attacks, the company uses only official licensed software with regular updates and additional protection. Also, the company"s equipment is not equipped with technical means that allow the integration of external media. To reduce the risk of cyber attacks, as well as digital risks, the consistent implementation of AML / KYC policy, identification of the identity and monitoring of the financial activities of clients allow.
By registering on the cryptocurrency exchange portal, the user automatically agrees to the application of the AML / KYC policy. Thus, the user provides personal information for personal identification, including copies of high quality government-issued documents. Compliance with the AML / KYC policy allows you to ensure the security of electronic transactions, as well as the effective fight against money laundering, the sponsoring of terrorism, corruption, financial and economic violations, and fraud.
The administration of the resource Godofexchange undertakes to store the information received, protect the data from disclosure and transfer to third parties. In the event that the user of the resource is convicted of illegal activities, personal data may be transferred to representatives of law enforcement agencies by a court decision.
The implementation of the AML/KYC policy provides a stable and secure space for e-business in the field of finance and online cryptocurrency exchange.