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AML/KYC FKwallet Policy
1. Introduction
The Anti—Money Laundering and Know Your Customer Policy (hereinafter referred to as the "AML / KYC Policy") is designed to prevent and reduce the possible risks of FKwallet being involved in any illegal activity.
2. The purpose of internal regulation
The FKwallet service adheres to practices and measures in the field of countering the legalization (laundering) of proceeds from crime and the financing of terrorism (AML). The purpose of these measures is to demonstrate that FKwallet takes seriously any attempts to use its service for illegal purposes.
3. Warning
The FKwallet service warns users against attempts to use the FKwallet service to legalize criminally obtained funds, finance terrorism, fraud of any kind, as well as from using the service to purchase prohibited goods and services. The FKwallet service, its administration, employees and domain owners are not responsible for the misuse of the service by third parties, the actions of intruders and possible damage associated with the use of the FKwallet service.
4. Requirements
To prevent illegal transactions, the FKwallet service sets certain requirements for all Applications created by the User:
4.1.Replenishment of the FKwallet balance is possible only from accounts and accounts belonging to the owner of this FKwallet 4.2.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.
4.3. It is strictly prohibited for the User to create Applications using anonymous proxy servers, VPN, Tor or any other anonymous Internet connections.
5. Verification Procedures
One of the international standards for the prevention of illegal activities is due diligence of customers (hereinafter referred to as Verification). To this end, FKwallet implements its own verification procedures in strict standards for countering the legalization of proceeds from crime and the "Know Your Customer" procedure.
5.1. The FKwallet Service may require the User to provide the FKwallet Service with reliable, independent source documents, data or information (for example, a national ID card, international passport, bank statement). For such purposes, FKwallet reserves the right to collect User identification information for the purpose of complying with the AML/KYC Policy.
5.2. The FKwallet Service will take steps to verify the authenticity of documents and information provided by Users. All legal methods for double-checking identification information will be used, and FKwallet reserves the right to investigate the cases of certain Users whose identities have been identified as dangerous or suspicious.
5.3. FKwallet reserves the right to verify the User's identity on an ongoing basis, especially when his identification information has been changed or his activity has seemed suspicious (unusual for a particular User). In addition, FKwallet reserves the right to request current documents from Users, even if they have been authenticated in the past.
5.4. User identification information will be collected, stored, shared and protected strictly in accordance with the Privacy Policy of the FKwallet Service and the relevant rules.
5.5. After confirming the user's identity, the FKwallet Service may refuse to provide services to the User in a situation where the services of the FKwallet Service are used to conduct illegal activities.
5.6. Users who intend to use payment cards for the purpose of consuming services must check the card in accordance with the instructions available on the FKwallet website.
5.7. The FKwallet service has regulatory requirements to verify the source of funds or crypto currency in order to know that the sources of funds that Users use for trading are legitimate.
6. Responsible Official
The person responsible for compliance with AML standards is a person duly authorized by the FKwallet Service, whose responsibility is to ensure the effective implementation and enforcement of the AML/KYC policy. 6.1. The duty of such an official is to monitor all aspects of FKwallet's activities to counteract the legalization of proceeds from crime, including money laundering and terrorist financing, including, but not limited to the following methods: - collection of user identification information; - Create and update internal policies and procedures to complete, review, submit and maintain all reports and records required by applicable laws and regulations; - monitoring transactions and investigating any significant deviations from normal activities; - implementation of a records management system for the appropriate storage and retrieval of documents, files, forms and journals; - regular updating of the risk assessment; - providing law enforcement agencies with information necessary in accordance with applicable laws and regulations.
6.2. The official responsible for compliance with AML standards has the right to interact with law enforcement agencies involved in the prevention of money laundering, terrorist financing and other illegal activities.
7. System functions
FKwallet performs a variety of compliance-related tasks, including data collection, filtering, record keeping, investigation management, and reporting. System functions include: - daily checking of Users for the existence of recognized "blacklists" (for example, OFAC), aggregation of transmissions across multiple data points, placing users on monitoring and denial of service lists, opening cases for investigation where necessary, sending internal messages and completing mandatory reports, if applicable; - case and document management.
8. Behavior Analysis
The FKwallet service verifies Users not only by verifying their identity, but, more importantly, by analyzing their behavior in transactions. Therefore, the FKwallet service relies on data analysis as a tool for risk assessment and suspicion detection.
9. Risk assessments
FKwallet, in accordance with international requirements, applies risk assessment practices to combat money laundering and terrorist financing. By applying risk assessment practices to combat money laundering, FKwallet ensures that measures to prevent or reduce money laundering and terrorist financing are commensurate with the identified risks.
10. Performing customer checks
If the administration of the FKwallet service has reasonable suspicions that the user is trying to use the services of the Service for money laundering or for the purpose of conducting any other illegal operations, the administration has the right: 10.1. suspend the execution of the user's exchange operation; 10.2. request identification documents from the User; 10.3. request any additional information and documents from the User in case of suspicious transactions;
10.4. Ensure that reports of suspicious transactions are transmitted to the appropriate law enforcement agencies through the official responsible for compliance with AML standards.
11. Privacy
The FKwallet service guarantees the client's privacy in accordance with the privacy policy of the service.
11.1. The FKwallet Service and its employees undertake to maintain confidentiality with respect to any facts revealed in connection with any questionable transaction. This obligation also applies to users of the Service and to third-party persons to whom information about the transaction was transferred.
11.2. The obligation of confidentiality imposed on employees of the FKwallet Service remains in force after the termination of their work or any other contractual relationship with the FKwallet Service, as well as when such employees are transferred to another workplace. Disclosure of such information to government, law enforcement agencies and other entities in cases that are determined by law does not constitute a violation of the obligation of confidentiality.
11.3. The obligation to ensure confidentiality, provided that the use of disclosed information is limited to preventing the legitimization of proceeds of crime and terrorist financing, cannot be applied to disclosure of information between financial institutions forming a consolidated group that cooperates with the FKwallet Service.
12. Conclusion In connection with the above, the FKwallet Service does not bear any legal responsibility for using it for the purpose of legalizing criminally obtained funds, financing terrorism or purchasing prohibited goods and services, but undertakes to take all possible and available actions to prevent attempts to use the FKwallet Service for the purpose of legalizing criminally obtained funds, financing terrorism or the purchase of prohibited goods and services.
