AML (Anti-Money Laundering, Anti-Money Laundering) are principles for combating money laundering, terrorist financing and the creation of weapons of mass destruction.
AML Online service policy CryptoBarMen is described in section 13 of these rules.
Both international and local laws and regulations require the implementation of effective internal procedures and mechanisms to prevent money laundering, terrorist financing, drug and human trafficking, proliferation of weapons of mass destruction, corruption and bribery, as well as taking action in the event of any form of suspicious activities and activities Users.
In order to counter the legalization of proceeds from crime and the financing of terrorism, our exchange office conducts AML verification of transactions received from clients.
If the transaction is identified as high-risk, the exchange operation will be suspended pending verification in accordance with FATF standards.
The Service has the right to use any legal methods for detecting illegal transactions using internal algorithms, as well as with the participation of certified partners offering such tools and methods.
The service reserves the right to suspend financial transactions in cases where the AML check of the transaction sent by the client shows a significant risk. Transaction indicators should not exceed 65% risk, and the following indicators have the critical content of individual zones: Dark Service and Dark Market – 5%; Mixer and Gambling – 5%; Exchange Fraudulent, Scam, Illegal Service, Stolen and Ransom – 2.5%.
In case of suspension of the application, the User is obliged to pass extended verification by providing:
1. Photo of one of the documents (passport, ID-card or driver’s license).
2. Selfie with this document and a sheet on which today’s date and signature will be written by hand.
And also fully answer the following questions:
– through which platform did the funds come to you? Provide screenshots of the sender’s wallet/platform withdrawal history, as well as links to both transactions in the explorer;
– explain for what service the funds were received;
– how much the transaction was, as well as the date and time of its execution;
– through which contact person did you communicate with the sender of funds? Provide all screenshots of the correspondence with the sender, where we can see the confirmation of sending funds.
The service reserves the right to request additional documents or screenshots for extended user verification, since each case of blocking is considered individually and may require additional guarantees that the person is not involved in illegal actions.
The Service does not provide additional services for the analysis of a future transaction and does not answer Users’ questions related to the possible risk of conducting an exchange transaction or converting funds. In case of doubts about the purity of the cryptocurrency, the User must independently check the degree of risk on open specialized sites.
The user reserves the right to refuse verification. If the blocking was on the part of the exchange service, where the reception was carried out on online or offline wallets (not related to the exchange), then in this case, after 10 (ten days) a refund will be made minus 10% – 30% of the amount received, and as well as other commissions of the network. The amount of retention interest is determined by the damage caused by the User to the exchange service.
If the acceptance of title units was carried out on exchange wallets and the freezing of funds was on the part of the exchange, then if the User refuses to verify, the funds remain frozen until an indefinite moment and can be unfrozen by a court decision. All legal claims of the User in the manner of recourse must be redirected to the source of blocking funds – the exchange.
If, by a court decision, the return of the title units will be carried out by the exchange, through the exchange service, then the latter will refund minus 10% – 30% of the amount received, as well as other network commissions. The amount of retention interest is determined by the damage caused by the User to the exchange service.
If the acceptance of title units was carried out on exchange wallets and the freezing of funds was on the part of the exchange, then if the User refuses to verify, the funds remain frozen until an indefinite moment and can be unfrozen by a court decision. All legal claims of the User in the manner of recourse must be redirected to the source of blocking funds – the exchange.
If during the period of freezing of title units, a request was received from the police or the court to seize funds, then the funds will be transferred in full to law enforcement agencies and cannot be returned in the future.
All information of Users on the application is confidential, however, for high-risk transactions, the CryptoBar.Men online service will report and cooperate with the authorities of the countries where illegal transactions were carried out.
The CryptoBarMen exchange office warns users against trying to use our service to launder money obtained from crime, finance terrorism, fraud of any kind, as well as from using the service to purchase prohibited goods and services.
Our service is not responsible for the misuse of it by third parties, the actions of intruders and possible damage associated with operations of an illegal nature.
By making an exchange, the User agrees with the current rules of the exchange service and with all the terms of the AML policy and undertakes to comply with it.
How to avoid blocking of funds and completing the KYC procedure?
