EN

AML Policy

Introduction

Ensuring a safe and lawful platform is a core priority at ecex.exchange. Our Anti-Money Laundering (AML) and Know Your Customer (KYC) policy has been implemented to protect against risks associated with illicit financial activities, including money laundering and terrorism financing. These measures help us comply with international and local regulations while fostering trust and security for our users.

Purpose

The objective of this policy is to establish a framework for verifying user identities, monitoring transactions, and complying with applicable laws to prevent misuse of our platform.

1. User Verification

1.1 Identification Requirements

Users are required to provide the following:

  • Full legal name and date of birth.
  • A government-issued ID such as a passport, driver’s license, or national identity card.
  • Proof of residential address, including a recent utility bill or official correspondence.

1.2 Verification Procedures

  • Documents submitted by users are authenticated for accuracy.
  • User details are screened against international sanction lists and anti-fraud databases.
  • Enhanced due diligence is applied for transactions deemed high-risk.

2. Monitoring and Risk Assessment

2.1 Transaction Analysis

Transactions are continuously monitored to:

  • Identify unusual patterns or large-volume transfers.
  • Detect activities linked to high-risk regions or entities.
  • Spot usage of tools designed to obscure fund origins, such as cryptocurrency mixers.

2.2 Response to Suspicious Activities

If a transaction is flagged as suspicious, ecex.exchange may:

  • Temporarily suspend the transaction for further investigation.
  • Request additional documentation or user clarification.
  • Report the incident to regulatory authorities, as required by law.

3. Documentation for Enhanced Due Diligence

Users flagged for additional scrutiny may be asked to provide:

  • Details about the source of funds, supported by transaction records or screenshots.
  • An explanation of the transaction’s purpose and involved parties.
  • A selfie holding a government-issued ID and a handwritten note showing the current date.

Non-compliance with these requests may result in the suspension or termination of services.

4. Compliance Team Responsibilities

4.1 AML Officer

The designated AML Officer oversees compliance by:

  • Monitoring flagged transactions and user activity.
  • Conducting investigations into suspicious activities.
  • Reporting findings to relevant authorities.

4.2 Employee Training

Staff members receive regular training to stay updated on regulatory requirements and best practices for AML and KYC compliance.

5. Data Privacy and Retention

  • All personal and transactional information collected during verification is securely stored and accessible only to authorized personnel.
  • Data is retained for the duration required by law and securely disposed of thereafter.

6. User Support

Users can contact our support team for assistance with:

  • Verification requirements and documentation.
  • Resolving issues related to flagged transactions.
  • Guidance on completing secure transactions.

7. Updates to the Policy

This policy will be reviewed and updated regularly to reflect changes in laws and industry standards. Users are encouraged to check for updates periodically.

Conclusion

By adhering to this AML and KYC policy, ecex.exchange provides a secure platform while fulfilling its legal and ethical obligations. These measures ensure the safety and integrity of our platform, protecting both users and the broader financial ecosystem.