EXBASE.IO Anti-Money Laundering and Know Your Customer Policy (hereinafter - the “AML/KYC”) is designated to prevent and mitigate possible risks of EXBASE.IO being involved in any kind of illegal activity.
Both international and local regulations require EXBASE.IO to implement effective internal procedures and mechanisms to prevent money laundering, terrorist financing, drug and human trafficking, proliferation of weapons of mass destruction, corruption and bribery and to take action in case of any form of suspicious activity from its Users.
AML refers to "Anti-Money Laundering".
KYC refers to "Know Your Customer".
We strive to protect our Users from fraudulent and scam activities in the crypto assets sphere. It is possible, that certain crypto assets are used for scam or any other criminal activity, as defined by law. In order to prevent this, it is necessary to take measures to ensure customer verification and security of financial transactions. One of the best measures is AML/KYC procedure, which allows us to confirm, that you are a law-abiding individual or corporation.
EXBASE.IO has a risk scoring system that is able to spot suspicious activity. If a transaction is flagged by the system, it is put on hold and the User is asked to pass AML & KYС verification. For the reasons of security, we are not able to disclose specific criteria of our system, however, it has proven to be very effective against money launderers, scammers etc.
EXBASE.IO reserves the right to apply the AML/KYC procedure to certain Users, addresses and particular transactions of crypto assets. Application of the AML/KYC procedure is based on EXBASE.IO internal policies and aimed at preventing and mitigating possible risks of EXBASE.IO being involved in money laundering as well as any other illegal activities.
Please be informed, that EXBASE.IO service reserves the right to appoint Third-party service provider in order to fulfil AML/KYC procedure on behalf of EXBASE.IO. While processing your information, such service provider completely complies our Privacy Policy in respect of your personal information.
EXBASE.IO may forward the information collected during AML/KYC procedure to the competent authorities upon legitimate request.
EXBASE.IO will not enter a business arrangement with individual or entity suspected of or directly involved in money laundering, or in which the funds have been the source of illegal activity.
The AML / KYC procedure may be applied for those payments of crypto assets that are determined by our automatic risk prevention system as suspicious ones. In this case, EXBASE.IO will contact the User via the registered email in the account.
The AML/KYC procedure consists of verifying the User's identity by means of high-quality photo on his/her ID valid in country of registration or any other applicable documentation.
If a transaction is marked as risky by our system, it will be suspended and the User will be requested to pass an AML / KYC check.
The AML / KYC procedure may be applied for those payments of crypto assets that are determined by our risk prevention system as suspicious ones.
ExBase.io reserves the right to refuse from further service of User and apply the actions described above in following cases:
After receiving user’s documentation EXBASE.IO takes all reasonable steps, to recognize false documentation and reserves the right to investigate certain users or transactions found to be risky or suspicious.
After successful completion of the AML / KYC procedure, the transaction will be carried out.
If User will refuse to go through the AML/KYC procedure, the transaction will be rejected and the crypto assets will be returned considering 7% fee, as well as any applicable fees. After that EXBASE.IO will block user account and blacklist the wallet address (exceptions may apply to the trusted service address). This user account will not have the right to use EXBASE.IO any longer.
EXBASE.IO keeps working on quick and transparent procedures updates that may be delivered to our Users via email and other means as well as at our website
If you have any questions about AML/KYC procedure, please contact us via [email protected]