AML

AML / CTF and KYC Policy Anti-Money Laundering Policy.

The PayMarket service warns users against trying to use the service to launder money obtained by criminal means, financing terrorism, illegal actions of any kind, as well as from using the service to purchase prohibited goods and services.

Money laundering is the concealment of an illegal source of funds by converting them into cash or investments that look legitimate.

General provisions

To prevent operations of an illegal nature, the Service establishes certain requirements for all Applications created by the User:

1. The sender and recipient of the Payment under the Application must be the same person. Using the services of the Service, transfers in favor of third parties are strictly prohibited.

2. All contact information entered by the User in the Application, as well as other personal data transmitted by the User to the Service, must be up-to-date and completely reliable.

3. It is strictly forbidden to create Applications by the User using anonymous proxy servers or any other anonymous connections to the Internet.

This anti-money laundering policy (hereinafter referred to as the "AML Policy") describes the procedures and mechanisms used by the PayMarket Service to counter money laundering The PayMarket Service adheres to the following rules:

1. Do not do business with known criminals and/or terrorists;

2. Not to process transactions that are the result of known criminal and/or terrorist activities;

3. Not facilitate any transactions associated with known criminal and/or terrorist activities;

4. Has the right to restrict or prohibit the use of all or part of the services for citizens of countries such as Afghanistan, Bosnia and Herzegovina, the United States, the Democratic People's Republic of Korea, the Democratic Republic of the Congo, Eritrea, Ethiopia, Guyana, Iran, Iraq, the Lao People's Democratic Republic, Libya, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Trinidad and Tobago, Tunisia, Uganda, Vanu atu, Ukraine.

Verification Procedures

The PayMarket service establishes its own verification procedures within the anti-money laundering standards - Know Your Customer (KYC) policy.

1. Users of the PayMarket Service go through the verification procedure (provide a state identification document: a passport or an identification card). The PayMarket Service reserves the right to collect Users' identification information for the purposes of implementing the AML Policy. This information is processed and stored strictly in accordance with the Privacy Policy and the Personal Data Processing Policy of PayMarket.

2. The PayMarket Service may also request a second document to identify the User: a bank statement or a utility bill not older than 3 months, which indicates the full name of the User and his actual place of residence, the service also has the right to request a photo / video verification of the client, if there are suspicions about the dishonesty of the information provided.

3. The PayMarket Service verifies the authenticity of documents and information provided by Users and reserves the right to receive additional information about Users who have been identified as dangerous or suspicious.

If the User's identification information was changed or his activity seemed suspicious, the PayMarket Service has the right to request updated documents from the User, even if they were authenticated in the past.

Responsible for AML Policy Compliance

The AML Policy Compliance Officer is a PayMarket employee whose responsibilities include ensuring compliance with the AML Policy, namely:

1. Collection of identification information of Users and transfer of it to the responsible agent for the processing of personal data;

2. Establish and update internal policies and procedures for writing, reviewing, submitting and storing all reports required by existing laws and regulations;

3. Monitoring of transactions and analysis of any significant deviations from the normal activities of Users;

4. Implementation of a records management system for storing and retrieving documents, files, forms and journals;

5. Regular updating of the risk assessment.

The AML Compliance Officer has the right to interact with law enforcement agencies that are involved in the prevention of money laundering, terrorist financing and other illegal activities.

Transaction monitoring

Monitoring of the User's transactions and analysis of the received data is also a tool for risk assessment and detection of suspicious transactions. If money laundering is suspected, the PayMarket Service controls all transactions and reserves the right to:

1. Report suspicious transactions to the appropriate law enforcement authorities;

2. Ask the User to provide any additional information and documents;

3. Suspend or terminate the User's account.

4. Suspend the exchange and freeze assets until the circumstances are clarified.

5. Return the funds to the user by canceling the exchange procedure, according to the user agreement

6. Risk assessment

The above list is not exhaustive. The AML Policy Compliance Officer monitors User transactions on a daily basis to determine whether they should be reported and treated as suspicious.

In accordance with international requirements, the PayMarket Service applies a risk-based approach to combat money laundering and terrorist financing. Thus, measures to prevent the legalization of funds and the financing of terrorism are commensurate with the identified risks.

The User agrees to verify all transactions conducted on the Online Service. The wallet addresses of all ongoing transactions will be automatically checked by AML for involvement in such concepts as:

Darknet Service
Illegal Service
Mixing Service
Darknet Marketplace
Scam
Fraudulent Exchange
Stolen Coins
Ransom
Enforcement Action
Child exploitation
Gambling
Sanctions
Terrorism financing

A transaction is considered problematic if the overall risk of the transaction is above 60%, or if one of the indicators listed above is present.

In this case, in order to consider the possibility of a refund, the User will need to go through the procedure of confirming personal data and the source of origin of the funds.

The deadline for submitting documents is 3 months from the date of the transaction. Funds may be moved to secure storage while they are being verified.

A 5% fee applies to refunds.

AML/CTF и KYC

AML

General provisions

Verification Procedures

Responsible for AML Policy Compliance

Transaction monitoring