The AML/KYC policy is a carefully designed and constantly updated international security system, which consists of many levels, includes a number of mandatory activities and clear algorithms for registering users and cooperating with clients. The main goal for which this direction of the company"s policy is being implemented is the fight against money laundering, countering the financing of terrorism and creating obstacles to committing other economic violations. The basis for the system in question is checking before registration and tracking the activities of users, their operations on the site Thanks to the identification of the identity of each registrant, it is possible to ensure a sufficiently high level of security.

AML/KYC Policy Basics

The system is based on measures aimed at eliminating illegal money laundering. KYC involves updating information that relates to users. To do this, you need to identify the person, check the reputation of the client, his involvement in suspicious actions and illegal financial transactions.

AML is anti-money laundering. This fight is taking place on a global scale as the company provides services to users from all over the world. In order to protect all customers, it is necessary to reduce the risks of making transfers for illegal purposes, as well as the occurrence of other financial crimes. The implementation of all aspects of the policy under consideration makes it possible to form a high reliability of digital transfers on the site, which has a positive effect on the company"s reputation. The nuance of this system is that, with the right approach, only those users who have a positive reputation and are not seen in illegal or suspicious activities can access the services.

The identity recognition algorithm during registration on the site is one of the most important approaches that help reduce the risk of encountering fraudulent activities, money laundering and other illegal user activities. In order to identify the client, the administration receives a request to submit the following documents:

  1. internal state or foreign passport;
  2. driver"s license;
  3. statement from the bank;
  4. utility bill;
  5. bank card (user photo with this card);
  6. handwritten tax return.

User identification involves the submission of electronic copies of the documents in question. Only if there are any problems with sending or in other aspects, it may be necessary to show the originals, for example, via video link. Accordingly, electronic copies must be of high quality, clear, with readable information on them. In case of illegibility, you will need to resubmit the entire set of information.

Features of documents used for identification

If it is possible to detect a situation that the user submits deliberately false information, then the administration will take actions to notify law enforcement agencies about this. All documents submitted by the client for registration are not transferred to third parties. They are not distributed in the public domain and are not disclosed anywhere. The only exceptions are court requirements if a case has been filed against any of the users and it is necessary to check financial transactions. For this, an appropriate regulation is required. This data transfer is legal and complies with the privacy policy.

The documents mentioned above make it possible to identify a person"s identity. The main parameters here are:

  2. Date of Birth;
  3. place of stay;
  4. place of registration.

When registering, users indicate their contact details, which is required not only for identification, but also for communication with them. Contact information includes email, phone number and other electronic means.

If we are talking about large amounts of exchange, then it is required to provide a tax return in writing. In this case, the limit for daily exchange will increase significantly. If cases are found that the client deliberately hides any data, he will be denied registration. If the denial of service is received by mistake, the client can always contact the technical support service and resolve the issues that have arisen.

Carrying out checks

The AML/KYC policy includes a number of important procedures that help detect suspicious items and eliminate them in a timely manner. In addition, the implementation of preliminary measures to block offenders becomes the basic task of this policy. State documents become the basis for identification, since they have a number and a series that are difficult to fake. It is the state documents that have the highest level of trust. If traces of correction and retouching are found, then such documents will not be accepted.


International organizations draw up black lists that include persons involved in illegal activities in the financial sector, as well as those under sanctions, cooperation with which is not recommended due to high risks. Such lists may contain not only individuals, but also legal entities. If during the check it turns out that the user is in such a list, then he will not be able to register on the site, as well as use its functions.

If such a client tries to impersonate another person and provide knowingly false information, then information about such a case will be transferred to the relevant authorities, which will end with an investigation and punishment for the attacker. For this reason, data updating and regular checks of international databases are important.


Checks are one of the important nuances of the system under consideration. They are held both at the preliminary stage and after registration with a certain frequency. All clients go through the initial stage during the application for registration. They are also required to provide documents on the basis of which personal identification will take place. Unscheduled checks are carried out when there are suspicions that the transfers are illegal, as well as in case of suspicious actions for a specific account that are non-standard for it. This can include non-standard amounts, the use of unidentified sources of funds that are hidden, as well as non-standard recipients of transfers.

Cryptobaron specialists carry out round-the-clock verification of users" financial transactions in order to detect suspicious activities promptly and in a timely manner. Information about the transactions carried out is stored in special archives. Third parties cannot access them (except for law enforcement officers if there is a corresponding court decision). Almost any transfer can be stopped until the conditions are fully clarified, which makes it possible to stop illegal activities. The basis for the subsequent study of transfers is the use of FATF rules, which are applied by many companies in the world. The Administration conducts multi-level reviews based on proven security approaches.

Risk assessment, forecasting

It becomes significant enough to ensure the security of transfers and users who are engaged in the exchange of cryptocurrencies, making forecasts of potential risks and assessing them. This approach reduces the negative consequences. Risk investigation requires constant monitoring of customer activity in order to track down suspicious activity. If the company"s employees were able to detect suspicious actions on the part of the user, then transfers from his account, like any other activity, are temporarily stopped. After that, the verification begins. This approach contributes to a high level of stability in the functioning of the service, which is associated with the exchange of cryptocurrencies and the security of participants in the operation.

Accordingly, those people who are directly related to fraud, money laundering, and the allocation of money for terrorist organizations cannot register and work on the site. Persons involved in economic offenses and other crimes in this area will not be able to pass the registration.

Clients must indicate the sources of their income. If the money is received illegally, then they cannot participate in the exchange. An account whose user refuses to provide information about the sources of income will be blocked. If a client impersonates another, then this is also considered to be misleading by the administration, as is the submission of forged documents. Such users are not registered, their actions are reported to law enforcement agencies. Further in-depth checks are carried out.

The use of non-standard fraud methods is also suppressed, because the company"s employees regularly undergo training, use updated information databases and other means. Accordingly, user safety is always at a sufficiently high level. Each type of risk is assessed, resulting in a decision on how much resources to spend. The more dangerous the situation, the more resources are required to solve it.

Fundamentals of Combating Criminal Actions

Conducting regular checks, consisting of several levels, makes it possible to obtain a large amount of information for data analysis. The effectiveness of data scrutiny increases with the use of international lists of persons involved in economic crimes and fraud. In addition, the company"s employees are studying government reports, which also contain a lot of useful information to ensure the proper level of security.

The administration checks clients based on the chosen approach. Employees can submit a request to receive more documents from the user or to clarify documents already submitted. This is necessary to update the information in case of suspicion. Information about completed transfers can also be examined during data cross-checking.

If the administration has found violations in relation to the account, the client receives a notification, after which a detailed check begins. The methods and duration of this process depend on the risk assessments of the actions taken. Almost always, the transfer and the account are frozen until all the required circumstances are clarified. Minor errors and suspicious activity are analyzed fairly quickly, while deliberate misrepresentation may take longer and result in the transfer of data to the appropriate authorities for the user. In some cases, the company provides the client with time to correct errors on their own.

If you refuse to comply with the instructions of the administration, quite serious consequences can occur, which are not limited to account blocking. In particular, this may follow after a refusal to provide evidence of the legality of the funds used. When registering on the site, customers agree to the rules of the AML / KYC policy. Failure to comply with the indicated conditions leads to the fact that customers will not be able to use the services. This approach allows the company to effectively combat money laundering on its resource, counteracts the financing of terrorist organizations and other illegal activities.