I. KYC/AML POLICY. The Provider of The CryptoCurrency-Exchange Platform Crypto.ChronoPay (hereinafter – the “Company” or “we”) is required to comply with the Anti-Money Laundering and Countering Financing of Terrorism Legislation (AML/CTF Laws) of all countries of our presence or operation, namely Brazil, Estonia & Russia.
To help governments fight the funding of terrorism and money laundering activities, law
requires all financial institutions to obtain, verify, and record information that identifies each person
opening an account. The company therefore utilizes internal Anti-Money laundering and Counter-Terrorism Policy (hereinafter – AML Policy) based on the risk assessment of our clients, so the objectives of the AML/CFT Laws can be achieved.
- 1. To detect and deter money laundering and financing of terrorism;
- 2. To maintain and enhance the Company’s international reputation by adopting, where
appropriate, recommendations issued by the Financial Action Task Force; and
- 3. To contribute to public confidence in the financial system.
- II. Terms.By applying for an account with us you are taken to agree to the following terms:
1. You warrant that you comply with all applicable anti-money laundering laws and regulations,
including but not limited to the AML/CTF Laws and associated rules and regulations (in force
from time to time);
2. You are not aware and have no reason to suspect that:
- the money used to fund your account with us has been or will be derived from or related to
any money laundering or other activities deemed illegal under applicable laws or regulations
or otherwise prohibited under any international convention or agreement (“illegal activities”); or
- the proceeds of your investment will be used to finance illegal activities; and
- you agree to promptly provide us with all information that we reasonably request in order to
comply with all applicable laws and regulations relating to anti-money laundering.
In accordance with our AML Policy we will conduct initial and ongoing due diligence for each customer according to risk level posed by the customer.
What this means for you: In compliance with the ANTI-MONEY LAUNDERING REGULATIONS, 2011 STATUTORY RULES AND ORDERS No. 46 of 2011, along with other applicable industry standards and best practices we will ask for certain minimum identification information from each customer which opens an account; record customer identification information and the verification methods and results; provide notice to customers that we will seek identification information and compare customer identification information with government-provided lists of suspected terrorists or appropriate databases used for KYC/AML purposes such as OFAC and WorldCheck. The company reserves the right to deny in using its services or cancel or block the account of its client at any time if the client has been reasonably found in breach of company KYC/AML policies.
This minimum information may include:
- 1. The customer's full name; and
- 2. The customer's date of birth if natural person; and
- 3. The customer’s nationality if natural person; and
- 4. If the person is not the customer, the person's relationship to the customer; and
- 5. The customer's current permanent address or registered office; and
- 6. The customer's company identifier or registration number; and
- 7. The expected origin of the funds to be used within the relationship; and
- 7. Occupation and name of employee (if self-employed, the nature of the self-employment).
In order to verify the above-mentioned information we will require submitting the following documents:
- 1. For INDIVIDUALS:
- 1.1. Current valid passport;
- 1.2. National identity card;
- 1.3. Armed forces identity card; and
- 1.4. Driving licence which bears a photograph; and
- 1.5. Document proving current permanent address (such as utility bills, bank statements, etc.).
- 2. For CORPORATE CUSTOMERS:
- 2.1. Certificate of Incorporation or any national equivalent;
2.2. Memorandum and Articles of Association and statutory statement or any national equivalent;
- 2.3. Certificate of good standing or other proof of registered address of the company;
- 2.4. Resolution of the board of directors to open an account and confer authority on those who will
2.5. Сopies of powers of attorney or other authorities given by the directors in relation to the
2.6. Proof of identity of directors in case they will deal with us on behalf of the Customer (according
to the Individual identity verification rules described above);
2.7. Proof of identity of the beneficial owner(s) and/or the person(s) on whose instructions the
signatories on the account are empowered to act (according to the Individual identity
verification rules described above)
In order to verify the abovementioned information we will require at minimum submitting the
documents specified above. We may also request you to provide additional information accompanied
with respective documents.
III. Geographical restrictions.
Customers from certain countries of the world are limited in using services of our company for reasons of applicable legislation such as KYC/AML widely adopted polices or local crypto-currency legislations.
CList of countries we are not able to accept clients from based on local cryptocurrency legislation or OFAC regulations: USA, Ecuador, Bolivia, Morocco,Algeria, Macedonia, Nepal, Bangladesh, Vietnam, Balkans, Belarus, Burma, Cote D'Ivoire (Ivory Coast), Cuba, Democratic Republic of Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syria, and Zimbabwe.
IV. Business type restrictions.
The crypto-currency exchange vows to adhere to all applicable standards going beyond KYC/AML standards as may also be required by other financial systems which are utilized for assets transfer purposes - such as bank card networks rules & regulations, bank rules and regulations and policies. Due to that based on the industry best practices and legal requirements our company limits the clients we may be working with, to exclude certain business types as sources of obtaining crypto-assets, clients which primary source of crypto assets business is associated with the following type of business models are not allowed to use our services:
Drugs, Cigarettes, Stolen Goods, Hate speech or Racial Intolerance,Copyright Infringement,Sexually-oriented materials or services, Certain weapons or knives, Pyramid schemes, “Get rich quick” schemes, Multi-level marketing programs, Lotteries, Off-shore banking, Anything for the purpose of bribery or corruption.
Our company reserves the right to screen all our clients in all appropriate databases such as MATCH file in bank card systems or utilize specialized agencies for tracking the above mentioned business models.
V. Law enforcement request policy.
From time to time the Company may receive information requests about its customers from law enforcement agencies around the world.When information requests are received, the Company may require that it be accompanied by appropriate legal process. This can vary from place to place. For example, production orders, search warrants, and subpoenas may all amount to legal process. The company reviews each order to determine that it has valid legal basis and that any response is narrowly tailored to ensure that only the data to which law enforcement is entitled is provided. The company also reserves the right to make disclosures to authorities in order to protect itself, any Associates, and customers.