AML/KYC policy
1. In order to counter the financing of terrorism or the legalization of proceeds from crime, the 24ExPay service has developed and implemented an internal control systеm (AML/KYC/KYT).
1.2. AML or “Anti-Money Laundering” – verification of the User’s digital assets / funds in order to combat money laundering). The AML check systеm (Anti-Money Laundering) is based on the principles of preventing the involvement of the exchange office and its employees in the implementation of illegal actions related to the laundering of criminal proceeds, as well as the exclusion of the possibility of conducting operations related to the financing of terrorist activities.
1.3. KYC (Know Your Customer – know your client) and KYT (Know Your Transaction – know your transaction) – verification of the client’s personal data.
1.4. The 24ExPay administration warns the Customer against deliberate attempts to conduct fraudulent transactions to legalize money obtained by criminal means, financing of terrorism, fraud of any kind.
1.5. The administration, employees and owners of the exchange office are not responsible for the illegal use of services by third parties, the actions of intruders and possible damage associated with the use of 24ExPay.
1.6. By accepting the terms of the agreement and the AML/KYC/KYT policy, the client confirms that:
– The customer has reached the age of majority at the time of the transaction;
– All funds of the Customer are obtained legally;
– The customer is responsible for any possible consequences and understands what actions he takes;
– The customer is not in collusion with third parties and does not pursue illegal goals.
1.7. The administration of 24ExPay reserves the right to request documents proving the identity of a citizen. After confirming the identity, the exchange office employee has the right to suspend the transaction or completely refuse to provide services to the Customer in case of suspicion of illegal activity, as well as within the framework of cooperation, the right to transfer any information to law enforcement agencies.
1.8. If a high risk of the origin of funds is detected, the Customer’s funds may be withheld until the end of the investigation. All received funds are returned to the sender’s account, except for the commission for withdrawing funds from the Exchange.
1.9. In connection with the previous points, the administration of 24ExPay is not legally responsible for the use of the exchange office for illegal purposes (legalization of funds obtained by criminal means, financing of terrorism, purchase of prohibited goods and services), but undertakes to take all possible and available actions to prevent attempts to use .
1.10. In accordance with our anti-money laundering standards and KYC policy, 24ExPay has established certain verification procedures:
– The administration of 24ExPay may require users to go through the verification procedure by presenting a passport or identity card.
– Administration of 24ExPay reserves the right to collect and use information that identifies users in order to implement the anti-money laundering policy. The processing and storage of this information is carried out in strict accordance with the Privacy Policy and the 24ExPay Personal Information Processing Policy.
– The 24ExPay administration may request additional documents from the user to confirm his identity, such as: an extract from a bank account or utility bill, not older than three months. These documents must contain the user’s full name and current residential address.
– In case of suspicion regarding the authenticity of the information provided, 24ExPay may also request photographs or videos confirming the identity of the client.
– The 24ExPay administration verifies the authenticity of the documents and information provided by users, and also reserves the right to request additional information about users who have been identified as dangerous or suspicious.
– In the event of a change in the user’s identification information or suspicions regarding his actions, the 24ExPay Administration has the right to request updated documents, even if the previous ones have already been checked and confirmed.
