AML rules

Anti-Money Laundering (AML) and Know Your Customer (KYC) policies

Both international and local regulations require ExchangeMafia.com to implement effective internal procedures to prevent any illegal activity and take all necessary measures to do so.

The service adheres to practices in the field of combating the legalization (laundering) of proceeds from crime and the financing of terrorism (AML), as well as the Know Your Customer (KYC) policy.

The AML/KYC policy covers the following issues:

• Verification procedures;
• Transaction monitoring;
• Risk assessment.

1. Verification procedures

1.1. ID confirmation

The verification procedure requires that the User provide the Site with authentic documents (for example, an international passport, bank statement, utility bill). For such purposes, Exchangemafia.com reserves the right to collect user information as part of its Anti-Money Laundering and Know Your Customer policies.

Also, Exchangemafia.com reserves the right to additionally check certain Users who have aroused suspicion. The verification process includes the provision of documents confirming the User’s identity.

For individuals:

1) To confirm identity, the User must provide one of the following documents:
passport;
international passport;
ID card.
2) To confirm the address, the User must provide one of the following documents:

bank statement, which clearly shows the address of your actual residence;
utility bill, which clearly shows the address of your actual residence;
tax documents that clearly show the address of your actual residence;
A document confirming the address of your actual residence, issued by the local authorities, where the address of your actual residence is clearly visible.

For corporate clients:

1) To confirm identity, the User must provide one of the following documents:
civil passport of the director;
international passport of the director;
Director ID;
2) To confirm the address, the User must provide one of the following documents:

a document confirming the legal address of the company;
document on registration of a legal entity;
order on the appointment of a director;

4) Information about the final beneficiary:

civil passport of the final beneficiary;
international passport of the final beneficiary;
ID of the final beneficiary;
A document confirming the address of the final beneficiary. Ultimate Beneficiary, under Cypriot law, means the individual who owns or controls the User Account and/or the individual on whose behalf transactions are made.
1.2. Bank card verification

Users who want to make an exchange using a bank card must first verify it. Detailed instructions for completing verification can be found here.

2. Transaction monitoring

Verification of users is carried out not only by verifying their identity, but also by analyzing their transactions. Therefore, AnyExchange.Best relies on data analysis as a tool for assessing risk and detecting suspicious activity of Users.

Exchangemafia.com provides data collection, filtering, record keeping, investigation management and reporting. Regarding AML/KYC policy, AnyExchange.Best may monitor all transactions and reserves the right to:
request from the User any additional information and documents in case of suspicious transactions;
suspend or block a User’s account if Exchangemafia.com has reasonable suspicions that this User is engaged in illegal activities.
The above list is not exhaustive and transactions will be monitored on a daily basis to determine whether transactions should be considered suspicious.

3. Risk assessment

Exchangemafia.com, in accordance with international requirements, checks transactions for risk using AML services.

In this regard, the transaction may be rejected if the overall risk exceeds 50%. Also, the Service may refuse to provide services to the User if the risk exceeds 1.5% in the following categories:
Dark Service – coins associated with child abuse, terrorist financing or drug trafficking;
Dark Market – coins that were used for purchases on the darknet;
Scam – coins that were obtained by deceiving their clients;
Mixer – coins were missed