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.
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.
AML/KYC procedure might be applied in respect to those crypto assets payins, which are determined by our automated risk prevention system as suspicious. In these cases, Exbase will contact the User by email registered with account.
AML/KYC procedure includes confirming the identity of Users by means of:
In response to EXBASE.IO request for the User’s documentation, EXBASE.IO takes all possible measures to recognize the deceptive documentation or other false information and reserves the right to investigate certain Users or transactions which have been detected to be risky or suspicious.
Upon successful completion of the AML/KYC procedure, the transaction will be executed.
In case the User refuses to undergo the AML/KYC procedure, the transaction will be rejected and the crypto assets will be returned to where it originated from less any applicable fees. Thereafter, EXBASE.IO will freeze the User account and blacklist the wallet address (exceptions may apply to an address of a trusted service). This User account will no longer be eligible to use EXBASE.IO.
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]