KYC | AML Policy

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

ExchangeBuz Holdings Inc., as an e-currency exchange service provider, is committed to preventing money laundering, terrorism financing, and any other criminal activities. This includes activities aimed at concealing the source of illegally obtained funds or assets used for unlawful purposes. To uphold this commitment, we have implemented a comprehensive AML (Anti-Money Laundering) Policy and KYC (Know Your Customer) Policy.

  • User Requirements under AML Policy
  • Accurate Information: All contact details provided in the user's profile and orders must be truthful and accurate.
  • Prohibited Activities: Orders formed through anonymous proxy servers or any other anonymous internet connections are strictly prohibited.

  • Monitoring and Preventing Unlawful Activity
We employ a fraud prevention system to monitor user transactions and behaviors. This system blocks any suspicious activity or user accounts. Transaction limits are set based on the user's verification level and country of residence.

  • Know Your Customer (KYC) Policy

  • Identification Verification: We collect identification documents and proof of address from each customer (e.g., ID proof, passport, or driving license). Without verification, access to our services is restricted under certain conditions.
  • Profile Updates: Users are required to update their profiles regularly, including details such as first and last name, address, city, postal code, and mobile number. To prevent misuse, the name on the documents, profile, bank account, and Redpay account must match.

  • Verification Process
  • Verification and Account Suspension: The service reserves the right to suspend user accounts and orders until the required documents and proof of funds' origin are provided. This applies in the following situations:
  • Violation of the AML policy.
  • Orders flagged by the fraud prevention system.
  • Transactions exceeding $100,000 (or equivalent in other currencies) within three days.
  • Suspected abusive or illegal activities, including potential money laundering.

  • User Obligations: Users must provide the required documents within seven days of the request or request the cancellation of the transaction. Failure to provide the necessary documents may result in the refusal of further services, with all orders being canceled and refunds processed within 24 hours.

  • Grounds for Suspension or Refusal of Service
  • Money Laundering and Terrorism Financing: Any activity related to money laundering, financing of terrorist organizations, fraud, or other unlawful activities.
  • Invalid Documentation: Suspicion that the provided ID is fake, expired, or invalid.
  • Suspicious Funds: Indications that the source of funds is suspicious based on information from law enforcement agencies.
  • Unauthorized Access Attempts: Attempts to negatively impact our hardware or software, or to steal data or intellectual property.

  • Additional Areas of Risk

ExchangeBuz Holdings Inc. has reviewed all areas of its business to ensure that all potential money laundering risks are covered by the procedures described above. No additional areas of risk have been identified at this time.

We reserve the right to amend this policy at any time.