AML/KYC PolicyConducting Anti-Money Laundering and Know Your Client checks.
The AML / KYC policy of the TipTopObmen.com service includes a comprehensive program that is aimed at ensuring the proper level of security for working with digital currencies and other financial transfers. It includes a set of different measures and approaches aimed at identifying service customers. This approach makes it possible to fight economic crimes.
AML is a set of measures aimed at combating money laundering. This policy involves the conduct of verification procedures that will allow you to identify the identity of the user. Thanks to identification, it is possible to detect people associated with illegal activities in the financial sector, under the influence of international sanctions, included in the lists of persons with whom it is not recommended to cooperate in the financial sector.
The policy in question is complemented by a KYC system. It is aimed at verifying the personal information of customers, which makes it possible to implement algorithms for the study of personal data about users to maintain a sufficiently high level of security so that all customers of the site can safely carry out financial transactions related to the exchange of electronic currencies.
Based on this, the considered areas of financial security policy are among the most effective. They are approved by international experts and are used by many serious companies. At the same time, the rights of users are not violated here, the confidentiality of information is respected, since all data is used for internal use.
To facilitate understanding of all the features that are inherent in this system, a number of terms are used. These include:
- company - TipTopObmen platform, providing cryptocurrency exchange services;
- user - a person using the services of the company;
- money laundering is an illegal activity that involves hiding the sources of money and passing it off as legal;
- financing of terrorist organizations - the allocation of financial resources for activities;
- international sanctions - a list of restrictions that are put forward by international organizations for certain persons guilty of violating the law, in order to minimize the risks of cooperation with them;
- PEP - people who have a certain share of influence on political development in a certain country or in a certain region;
- AML - a list of measures taken during user checks if there are suspicions about the reliability of the client and the legality of the operations carried out by him.
Key AML/KYC Policy Positions
In order to effectively implement the considered policy directions, it is required to adhere to a specific list of rules that help to create an adequate level of security. The rules under consideration take into account the global experience of companies, the nuances of restrictions in different countries, eliminate the possibility of registration for people from the black list and create strict conditions for the implementation of the company"s internal regulations.
The algorithms by which the strategy under consideration is implemented are the basis for the internal security of a site that provides digital currency exchange services. Functional algorithms make it possible to respond with a certain level of efficiency to situations that arouse suspicion. They may be related not only to money laundering, but also to the financing of terrorist organizations, hiding data, etc.
In the performance of their duties, the specialists of the organization take as a basis the current legislation, as well as existing international rules governing the processes of identifying an individual and recognizing suspicious user actions. In this way, you can detect all illegal actions in advance and stop them, which will save you from the negative consequences that appear as a result of their commission.
The specialists of our company, who are engaged in ensuring the conditions for maximum security of the server and clients, regularly undergo briefings and refresher courses in order to effectively perform the assigned tasks. This mainly concerns updating laws, studying new methods of work, considering schemes for countering fraudulent activities, etc.
Processing of personal data and customer identification
The basis for the implementation of the policy direction under consideration is the verification of customers, recognition of their real identity, monitoring of the transfers they perform, etc. In order to cope with the tasks set, the company"s employees use personal identification at the first stage of verification. During the registration process, such a check helps to immediately weed out most of the potentially dangerous users, as there are well-established schemes. Additionally, scheduled and unscheduled inspections are carried out in case of suspicious cases. They increase the level of security for customers.
Accordingly, when cooperation with the user is carried out, both at the initial stage and at subsequent stages, employees comply with accepted internal norms and AML / KYC principles. The rules are binding on all users. It should be noted that the service does not cooperate with any representatives and third parties. All operations on the site are carried out by a registered person on his own behalf. This requires identification, which consists of several stages.
In order to carry out the identification process, the company administration must receive from the user a number of the following documents:
- international passport;
- internal passport of a citizen;
- driver license;
- bank card (you need to take a photo with it so that all the data can be read).
In order to register, you need to provide a photo or scans of the above documents so that they are clear and have high resolution. Copies must display the series and number of the document, information about the owner and the government agency that issued the document. If there are traces of retouching and correction, then such options are not allowed for submission. If it is discovered that the client knowingly provided false information, attempted to impersonate another person, information about such a case is transferred to law enforcement agencies.
At the same time, the site administration stores all information about customer transactions, but does not disclose them to third parties. The only exception is the court"s requirements for the transfer of data relating to the activities of the defendants. In all other cases, other persons cannot access the archive of the company and the personal data of users.
The documents in question are required in order to be able to confirm the information provided by the user. The main ones are:
- FULL NAME;
- Date of Birth;
- place of residence and registration;
- Contact Information;
- an identification number.
For foreigners, an additional list of documents may be required that are related to confirming the legality of being in the territory of the state and registering. Only after confirming all the data, the user opens all the functionality of the resource.
Documentation related to verifying the identity of customers must have evidence of the place of actual residence, as there are regions in which users cannot register on the site. To do this, you may need to provide a receipt for payment of utilities, bank statements, where the addresses are indicated. The period of validity of such documents is not more than six months.
For legal entities that register on the site, there is a list of documents that are required to confirm their authenticity. These include:
- legal address;
- Company name;
- extract from the commercial register;
- serial number;
- information about representatives;
- Contact details.
Users who managed to pass the first stage of registration can be safe and carry out transfers without restrictions, conduct their activities. All functions of the site are available to them, since the policy direction in question ensures the safe and stable operation of the resource.
Development of protection against risks
Working out existing risks, making forecasts and researching threats make it possible to prevent financial crimes. The study of risks involves taking into account:
- nuances of the location of users;
- risks for users who conduct their activities on the site;
- financial transactions carried out by users.
The company"s specialists try to find suspicious aspects when monitoring the work of users. If risk factors and lack of client reliability are found, then this entails additional checks. During this period, all transfers may be stopped and the account may be frozen.
The site administration has the right to refuse service to the client if one of the following cases is detected:
- the client is located in a country with high financial risks;
- the user is blacklisted by international organizations;
- the user is under international sanctions;
- the client is guilty of financial crimes;
- the client"s actions are suspicious.
Additional checks may be required if the user is suspected of illegal financial activity. After the successful completion of the verification procedures, the account, transfers and account will be unblocked.
In the IT sector, digital technologies are constantly used, since only they allow the provision of online services. As in any other area, there are risks affecting the economic aspects. The most common risks for a cryptocurrency exchange service include:
- hacker attacks;
- transmission of false information by users;
- transfer and storage of personal data of customers;
- theft of user data;
- the spread of viruses;
- instability of the systems.
To reduce the category of risks under consideration, employees of the organization use internal servers to which external devices cannot be connected. Also, only licensed software is used, which is updated in a timely manner and has the proper level of protection.
The electronic systems of the service are regularly checked and updated, which also applies to anti-virus programs. Stability of operation is ensured by regular professional maintenance. Backup copies of used servers are created, employees undergo timely training to work with equipment and programs.
Such checks are aimed at studying the personality of a person, the nuances of his activity. In particular, this applies to suspicious users . During legal audits, documents submitted by clients are studied, and transactions are analyzed.
The nuances of using the AML / KYC system include conducting a set of verification work even before granting permission for registration. If the user does not submit the necessary documents for identification, then he will not be able to register. If during the execution of transactions by already registered users it is possible to detect the illegality of their actions, then information about such transfers is sent to the relevant authorities, which will begin an investigation of illegal activities.
When registering on the TipTopObmen website, which deals with the exchange of electronic currencies, the user must comply with the terms of the AML / KYC policy. This guarantees the stability of the service and the security of transactions of other users. Providing correct information and following the rules helps to ensure the legality of transactions.