AML POLICY CRYPTOPAYMENTS

Know Your Customer (KYC) Procedures: Cryptopayments conduct thorough KYC procedures for all customers to verify their identity and assess the risk associated with their transactions. This includes collecting identification documents, verifying the authenticity of the information provided, and screening customers against relevant sanctions lists and watchlists.

Enhanced Due Diligence (EDD): In cases where customers pose a higher risk, Cryptopayments conduct enhanced due diligence measures to gather additional information and mitigate the associated risks. We will conduct screening for politically exposed persons and implement appropriate risk-based measures.

The KYC process typically involves verifying the company’s legal existence, ownership structure, and the identities of its directors, beneficial owners. 1. Certificate of incorporation/registration This document proves that the company has been officially registered with the relevant government authority.

2.Memorandum & Articles of Association were signed by the company’s director These documents outline the company's constitution, rules, and regulations governing its internal affairs.

3.Certificate of Incumbency This document typically includes details about the current directors, officers, and shareholders of the company. It is often used to confirm the individuals authorized to act on behalf of the company.

4.Certificate of Good Standing This certificate attests that the company is in compliance with all statutory requirements and is authorised to conduct business. It may also be known as a Certificate of Existence or Certificate of Status.

Any documents submitted must be in English, or if in another language, they must be accompanied by a notarized translation. For EU/EFTA/Switzerland registration, apostilles may not be necessary. Additionally, registration documents should not exceed a 12-month age limit.

*Countries not party to the Hague Convention will be required to provide documents notarized with an English translation.

Cryptopayments employ robust transaction monitoring systems to detect and report suspicious activities. This includes monitoring transactions for unusual patterns, large or rapid transfers of funds, and transactions involving high-risk jurisdictions. Additionally, our compliance team conducts manual reviews of flagged transactions to assess their legitimacy. This may involve contacting customers for additional information or documentation to support the transaction.

Cryptopayments is committed to promptly reporting any suspicious activities or transactions to the appropriate authorities as required by law. We maintain records of all transactions and cooperate fully with law enforcement agencies and regulatory authorities in their investigations.

Cryptopayments conduct regular risk assessments to identify, assess, and mitigate the risks of money laundering and terrorist financing associated with its services. This includes an assessment of customer risks, product/service risks, geographic risks, and transactional risks.

Cryptopayments maintain accurate and up-to-date records of customer transactions, including identification documents and transactional data, in compliance with regulatory requirements.

Cryptopayments provide regular training to its employees to ensure they understand their roles and responsibilities in preventing money laundering. Employees are trained to recognize suspicious activities, understand relevant laws and regulations, and adhere to internal policies and procedures.

Cryptopayments regularly review and update its AML Policy and procedures to reflect changes in regulatory requirements, emerging risks, and industry best practices. We conduct internal audits and assessments to ensure compliance with the AML Policy and identify areas for improvement.

Cryptopayments is committed to maintaining a robust AML/CFT framework to protect its services from being exploited for illicit purposes. By implementing the measures outlined in this policy and fostering a culture of compliance, we aim to contribute to the global efforts to combat financial crime.

Politically Exposed Person (PEP) is defined as an individual who is or has been entrusted with prominent public functions. Due to their position and influence, PEPs are considered higher risk for potential involvement in bribery, corruption, and money laundering.

The definition of PEPs includes:

Foreign PEPs: Individuals who are or have been entrusted with prominent public functions by a foreign country, such as heads of state or government, senior politicians, senior government officials, judicial or military officials, senior executives of state-owned corporations, and important political party officials.
Domestic PEPs: Individuals who are or have been entrusted with prominent public functions domestically, with similar roles to those of foreign PEPs but within the country.

International Organization PEPs: Individuals who are or have been entrusted with prominent functions by an international organization, such as members of senior management or individuals with significant decision-making authority within the organization.

Family Members and Close Associates: The definition of a PEP also extends to family members and close associates of individuals who hold or have held these positions. This includes spouses, children, parents, and siblings, as well as close associates like personal advisors or business partners.