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AML / KYC policy of Bankcomat online service
AML/KYC Policy of Bankcomat Online Service
Policy (AML) and "Know Your Customer" (KYC) (hereinafter - "AML / KYC Policy") applied in our company are aimed at combating money laundering, reducing the risk associated with the company"s participation in any actions that are contrary to the law.
Bankcomat.org is a crypto-service, which is a complex online site that allows you to exchange cryptocurrencies from different countries of the world. Bankcomat.org confirms full compliance with the AML / KYC policy, which allows you to prevent actions for illegal money laundering and the development of terrorism, exclude participation in actions that are illegal.
The aim of Bankcomat.org is to provide high quality services to its clients while identifying and eliminating potential risks associated with money laundering. AML / KYC prescriptions are an effective means to increase stability in the cryptosphere, to strengthen trust between the cooperating parties.
Regulatory documents at the international and local levels establish the need for certain measures within the company that will effectively prevent the risks associated with money laundering, the development of terrorism, the spread of drugs, illegal weapons, corruption, and human trafficking. It is also necessary in order to take timely measures in case of detection of illegal transactions carried out by the company"s clients.
The AML / KYC policy includes the following questions:
- control and monitoring officer;
- assessment of possible risks;
- identity verification schemes;
- control of transactions.
Control and Supervision Officer
The employee who is responsible for the control and supervision of the established requirements is authorized by the company. It provides the most efficient process by which the rules of the AML / KYC Policy are implemented and followed. He is responsible for monitoring the correct implementation of all the company"s instructions related to the fight against money laundering and the development of terrorism. He is also authorized to:
- collect information about customers that can identify them;
- develop and update the provisions of the policy within the company and schemes of actions related to the completion, consideration, submission and storage of the necessary reporting documentation, records, as established by law and standards of activity;
- monitor ongoing transactions, investigate emerging deviations from the standard business conduct;
- implement schemes with which you can manage records in order to conveniently store and retrieve the necessary documentation and files;
- update the system for assessing potential risks with a certain frequency;
- if necessary, provide the authorized bodies with information that complies with the adopted regulatory acts and laws.
The employee engaged in control and supervision cooperates with specialized structures whose field of activity is the prevention of money laundering, the development of terrorism and other activities contrary to the law.
Assessment of possible risks
Based on the requirements of the international level, the company has adopted a certain scheme aimed at combating money laundering and the development of terrorism. The scheme includes an assessment of possible risks. By applying it, the company ensures that the measures related to the prevention and mitigation of the consequences of money laundering and the identified risks are commensurate. Thus, resources are allocated in the most efficient way. The scheme works in such a way that the allocation of resources is proportional to the priority: more attention is paid to the greater risk.
Identity verification schemes
Bankcomat.org strictly complies with the laws of the country where the organization is located. In this regard, completion of the verification process, which includes 2 levels, is mandatory for platform users. At the first level, the customer"s email is checked. If the process is successful, then the withdrawal limit is increased, which can be carried out daily, becomes equal to $ 10,000 or the amount relative to all cryptocurrencies that are on Bankcomat.org, in accordance with the current exchange rate. At the second level, the identity and address of the client are verified. After this has been successfully confirmed, the client will be able to withdraw 100 BTC every day, or it can be equal to this amount for the cryptocurrencies that are used on Bankcomat.org, according to the current exchange rate.
To carry out this procedure, according to the AML / KYC Policy, the client must receive:
- a) A document that confirms the identity. It must be characterized by validity, reliability and independence, and must also contain the name and surname, date of birth, photo, document series. The client can choose from:
- internal passport of a citizen of the country;
- international passport;
- driver"s license.
An important point is the following: documents can be accepted as proof of identity if the information indicated in them has Latin transliteration.
- b) A document confirming the client"s address where he has lived for the last 3 months. In this case, the client is provided with:
- certified lease agreement or bank statement;
- electricity / utility bills;
- tax declaration;
- other documents containing the real address where the person lives during the last 3 months.
An important point is the following: documents can be accepted as confirming the address if the information indicated in them has Latin transliteration.
- c) Selfie taken by the client of himself holding a paper with the text “Bankcomat.org” and the date.
The company will take certain steps to verify that all information provided by the customer is genuine. For this, methods will be used, including double-checking information based on the law. If there are suspicions about the identity of the client, the company has the right to refuse cooperation.
The company is constantly verifying the identity of the client, but most often this happens in cases where the client is engaged in activities that are assessed as suspicious or unusual. Even if the client has previously undergone a document check, the company has the right to request updated documents again.
Customer information that identifies him is subject to collection, storage, transfer and protection based on the Nondisclosure Policy adopted by the company.
In cases in which the company is unable to verify the accuracy of the information due to the failure to provide them by the client, it may refuse to register on the website https://Bankcomat.org/ and subsequent cooperation. This also applies to cases in which the actions taken by the client can negatively affect the work of the company due to their illegality or violation of important principles specific to the field of activity, and cases in which the person was sanctioned by one of the countries of the world.
From time to time, we may refuse to cooperate with clients in certain countries and territories, due to the FATF recommendations "High-risk and other controlled jurisdictions" and our policy on managing potential risks. This can apply to both new customers who register on our site, and those with whom we are already working. In this case, we will pre-send notifications and the impossibility of providing our services.
Control of transactions
The company obtains the necessary information about customers by verifying their identity and analyzing their activities (transactional models). Data analysis is a tool for assessing potential risks. To do this, a large list of tasks is performed to control the fulfillment of the necessary requirements (information is collected, filtered, documents are maintained, suspicious transactions are investigated, reports are drawn up). The system has the following functions:
- a) clients are checked on an ongoing basis, the aggregation of transfers relative to certain data points is taken into account, internal communications are sent out, the established documentation is filled in to provide reports, investigations are initiated if necessary;
- b) all documentation is managed.
The AML / KYC policy retains the right to analyze all information received from clients, the ability to track their transactions, therefore, in our competence:
- control the process of submitting a report of suspicious activity to specialized structures by an employee who is involved in compliance with company policies;
- ask the client to present additional documents in case of suspicion of the illegality of his actions;
- suspend or temporarily block, close the client"s ability to continue operations when there is a suspicion of their illegality.
This list is not complete. The Compliance Officer monitors all transactions on a daily basis in order to identify suspicious ones in a timely manner and report them to the authorized authorities.
If you register on the Bankcomat.org website, it means that you agree to comply with all the conditions established by the AML / KYC Policy. However, there can be no exceptions. Adherence to the AML / KYC Policy is the main part of the terms and conditions under which you use the site, therefore you give your consent by registering with Bankcomat.org.