Rules

Anti-Money Laundering Policy

The Money-ex service warns users against attempts to use our exchange service to launder funds obtained by criminal means, terrorist financing, illegal actions of any kind, as well as from using the service to purchase prohibited goods and services.

Money laundering is the process of concealing the illicit source of funds by converting them into funds or investments that appear legitimate.

General provisions

To prevent illegal transactions, the Money-ex exchange service establishes these requirements for all Applications created by the User:

1. The sender and recipient of payment under the exchange application must be the same person. Transfers in favor of third parties are strictly prohibited;

2. All contact information filled in by the user in the application, as well as any personal data provided by the user to the exchanger, must be current and completely reliable;

3. It is prohibited to create applications using anonymous proxy servers or any other anonymous connections on the Internet.

This anti-money laundering policy (hereinafter referred to as the “AML Policy”) describes the procedures and mechanisms used by the Money-ex exchange service to combat illegal activities.

Exchange service Money-ex:

• does not enter into business relations with known criminals and/or terrorists;

• does not process transactions that are the result of known criminal and/or terrorist activities;

• does not facilitate any transactions related to known criminal and/or terrorist activities;

• has the right to restrict or prohibit the use of all or part of the services for citizens of countries such as Afghanistan, Russian Federation, Bosnia and Herzegovina, USA, Democratic People's Republic of Korea, Democratic Republic of the Congo, Eritrea, Ethiopia, Guyana, Iran, Iraq, Lao People's Republic Democratic Republic, Libya, Somalia, southern Sudan, Sri Lanka, Sudan, Syria, Trinidad and Tobago, Tunisia, Uganda, Vanuatu;

• has the right to an additional verification procedure

The Money-ex exchange service establishes its own verification procedures as part of the anti-money laundering standards - the Know Your Customer (KYC) policy.

• Users of the Money-ex.com website undergo a verification procedure (provide a government identification document: passport or identification card). Money-ex exchanger reserves the right to collect user 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 Money-ex personal data processing policy;

• Additionally, Money-ex.com may request a second document to identify the user: a bank statement or utility bill no older than 3 months, which indicates the user’s full name and his actual place of residence; the exchange service also has the right to request photo/video verification of the client , if there are suspicions about the dishonesty of the information provided;

• Money-ex verifies the authenticity of documents and information provided by users and reserves the right to obtain additional information about users who have been identified as dangerous or suspicious.

• If the user’s identification information has been changed or his activity seems suspicious, then the Money-ex exchanger has the right to request updated documents from the User, even if verification was completed earlier.
  
  
  Responsible for compliance with the AML Policy

The person responsible for compliance with the AML Policy is an employee of the Money-ex security service, whose responsibilities include ensuring compliance with the AML Policy, namely:

• collecting identification information of Users and transferring it to the responsible agent for processing personal data;

• creating and updating internal policies and procedures for writing, reviewing, submitting and maintaining all reports required by existing laws and regulations;

• monitoring transactions and analyzing any significant deviations from normal user activity;

• implementing a records management system for storing and retrieving documents, files, forms and logs;

• regularly updating risk assessments.
  

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

Transaction monitoring

Monitoring user transactions and analyzing the received data is also a tool for assessing risk and detecting suspicious transactions. If funds are suspected of being laundered, the exchange service Money-ex controls all transactions and reserves the right to:

• report suspicious transactions to appropriate law enforcement authorities;

• ask the user to provide any additional information and documents;

• suspend or terminate a user's account;

• suspend the exchange and freeze assets until the circumstances are clarified;

• return funds to the user by canceling the exchange procedure, in accordance with the user agreement.
  

  
  

In accordance with international requirements, the Money-ex exchange service uses a risk-based approach to combat money laundering and terrorist financing. Thus, measures to prevent money laundering and terrorist financing are commensurate with the identified risks.