CryptoStrike AML/KYC Policy

AML and KYC are specialized strategies that help ensure that the service is able to observe user activity, prevent illegal activities, detect them in a timely manner and minimize the consequences. Their implementation helps to improve the level of customer service, creates a safe environment for interacting with the service that conducts financial transactions. Using a proven protocol for monitoring transfers, as well as having personal customer data, you can create a reliable security system.

The AML/KYC policy has several important goals. These include: creating conditions for the safe operation of the organization, increasing customer confidence in the company, minimizing the chance of violators appearing on the portal. Based on the strategy under consideration, you can use the services only after registration, and for this, both individuals and legal entities are required to provide individual data. The check includes several levels, which applies not only to the preliminary analysis of information, but also to rechecking after a while. All this has a positive effect on the prevention of fraud, money laundering, and financing of prohibited organizations. One of the main results of the manifestation of the policy under consideration is the reduction of risks for all parties.

Accordingly, only users with a positive reputation, which has been documented, can get to the site. The implementation of the AML/KYC basics makes it possible to form a secure electronic space for the exchange of cryptocurrencies.

What information should be provided to the client

The administration of CryptoStrike must submit documents containing the personal information of registrants. It is used solely for security purposes. It is not disclosed and is not transferred to other persons. This can only be done by a court decision or at the request of law enforcement agencies.

List of documents:

  • a scan of a spread of a foreign passport with a high-resolution photo;
  • a scan of the internal spread of the passport with a photo;
  • scan of a utility bill;
  • bank statement indicating the address (both a physical document and a scanned, electronic copy are allowed);
  • driver license;
  • bank card photo;
  • ID-card;
  • photo of a client with a bank card;
  • a copy of the tax return.

The site administration can accept digital copies if they meet the requirements. Scans must be clear, readable, and they must also contain Latin transliteration. If the conditions are not met, registration will be denied.

Client Identity Checks

You cannot submit documents that contain corrections and retouched places. It is also prohibited to submit deliberately false data. All this will not be considered, and the user"s application will be rejected automatically. If you encounter a similar situation, you can try again by submitting the correct information that meets the conditions specified in the site rules.

Re-identification implies that the client needs to send the entire list of documentation again, and not just the file with which there were problems. Such actions may be needed if an error is detected. If a disputable situation arises, then the administration can behave loyally to the person who made a mistake, and after re-checking with error correction, access to all functions will be open.

Using this procedure, you can detect people who are directly related to money laundering, as well as other illegal actions of a fraudulent and other nature.

The AML / KYC policy is a set of measures aimed at preventing fraudulent activities, illegal financial transactions, money laundering and other operations that pose a risk to customers and negatively affect the reputation of companies. In order to identify customers, the administration requires the submission of documents that comply with the state standard. They are required to increase the degree of trust in new users, because such documents are quite difficult to forge or change the data contained in them. Accordingly, it is government documents that act as a source of truthful information about the user.

Verification of the submitted documentation does not give a chance to hide your real data. Many information databases, including tax databases, are open for verification, all false information is detected at a preliminary stage.

Varieties of checks to search for offenses

When researching AML / KYC, verification is carried out in several stages. This is due to the search for the username in various blacklists that are compiled by international organizations. In such lists, one can find persons who are subject to economic sanctions, as they were previously involved in illegal activities and economic crimes. Almost all people who are blacklisted by the EU will not be able to register on the site for the exchange of cryptocurrencies. At the same time, if the user has passed the test and proved his reliability, then he can use the full functionality of the site.

CryptoStrike clients cannot start using the service if they provide false or inaccurate information. All data updates must be displayed in personal information, because if during the recheck it is possible to detect a discrepancy between the specified information, then the client"s account will be blocked. If the user is suspected of fraud, the administration reserves the right to terminate cooperation with him. Data on illegal activities are transferred to law enforcement agencies. After an investigation, a case is opened against the attackers, they are punished in accordance with the law.

Unusual transactions are always subject to verification. The administration of CryptoStrike may block transfers until the circumstances are clarified. In such a situation, the verification is carried out in accordance with the FATF standards.

In addition, the resource stores information about completed procedures from the archive. Law enforcement agencies get access to the history of the user"s financial transactions, which will help determine the guilt of the suspect. Access requires a court order.

When the administration can prohibit the user from using the services of the service

The site administration has the opportunity to conduct unscheduled checks, use international approaches. Verification in this case is interconnected with the assessment of existing risks. Additionally, the activities of the client whose transfers have aroused suspicion are checked. During this procedure, all operations are blocked for a while until the circumstances of the process are clarified. The user will not be able to use his digital assets if his actions have aroused suspicion.

Users who have previously been convicted of financial violations and crimes in the economic sphere cannot exchange cryptocurrencies on the site. The administration, after the verification, refuses to register such persons. Users may be required to: provide information about the sources of funds that they receive in their account. If these sources are illegal or have a criminal origin, then further interaction with such users ends.

If during registration and identification of the user it is possible to find out that he tried to impersonate another, then his account is deleted. Further, the administration transfers information about this case to law enforcement agencies. If the client has already been convicted of money laundering, financing of terrorism, sale of narcotic drugs, then all data will be transferred to the relevant authorities for investigation and proof of guilt.

If the user does not provide information about where he received certain funds from to the account, he tries to mislead the administration, then this becomes one of the reasons for checking the client for involvement in illegal activities.

In order to fight new methods of crime, the administration is constantly updating digital databases and systems responsible for the safety of work. This approach increases the degree of security of transfers and other operations with financial resources for visitors to the service.

Contribution to the fight against terrorist organizations, money laundering and other crimes

Comprehensive checks allow you to counter a sufficiently large number of different types of crimes. Accordingly, it is necessary to work with a vast amount of information. It is possible to recognize criminals as quickly as possible through the use of American and European information databases, which contain the names of offenders with whom it is not recommended to cooperate. This significantly reduces the risks for users and the company. The records of the government in which the user resides may be used as sources of information. During the inspection, the administration may examine the international sectional lists. If necessary, the client may be asked for additional information. In addition, financial transactions undergo additional verification procedures. This set of measures makes it possible to maintain the proper degree of security for using this resource for exchanging cryptocurrency.

If a violation is found, the client will be notified that cooperation with him is terminated for the specified reasons. If a minor violation is detected, the administration can treat this loyally and provide some time to fix the problems. If the client does not meet the allotted time, the account will be blocked.

If the client encounters difficulties with updating the information, the site specialists can provide assistance in resolving a number of issues related to the operation of the service.

Risk assessment

The schemes that are used to assess risks make it possible to create safe conditions for the operation of the resource. As a result, all users will be able to conduct financial transactions without fear. To do this, you need to constantly monitor the ongoing transfers, monitor the updating of personal data. Risk assessment is created in accordance with international requirements. It is based on the experience of many companies. The main task is the fight against terrorist organizations, money laundering.

The scheme makes it possible to accurately assess risks. The use in practice of the risk assessment scheme allows you to select measures that are commensurate in terms of identifying, assessing and preventing dangerous situations. The scheme is aimed at prioritizing tasks, respectively, the higher the detected risk, the more attention should be paid to it.

Customer obligations

In order to use the site safely, users must comply with the following conditions:

  • their relatives and they themselves should not be high-ranking officials;
  • must have rights to the firm or securities they are using;
  • actions are performed solely on their own behalf;
  • mandatory use of the resource exclusively for legitimate operations;
  • non-involvement in cybercrime, terrorism, fraud.

Registration on assumes that the user agrees with the implemented AML/KYC policy. He must also maintain the norms and rules of the resource that counteract money laundering and the financing of crime. By registering on the service, the client agrees to the conditions for the transfer of correct data about himself and is identified.