Anti-Money Laundering (AML) Policy

Last updated: November 2024

1. Our Commitment

eXXXchanger is committed to preventing money laundering, terrorist financing, and other illicit financial activities. We maintain robust compliance procedures to ensure our platform is not used for illegal purposes.

2. Know Your Customer (KYC)

We implement comprehensive KYC procedures:

  • Identity verification through government-issued ID documents
  • Biometric verification (selfie with document)
  • Address verification when required
  • Enhanced due diligence for high-risk customers
  • Ongoing customer monitoring

3. Transaction Monitoring

All transactions are monitored using automated AML screening systems that:

  • Screen all incoming deposits against AML databases
  • Check for connections to sanctioned entities
  • Identify funds from darknet markets, mixers, or illegal sources
  • Assign risk scores to all transactions
  • Flag suspicious patterns for manual review

4. Risk Assessment

Our risk-based approach considers multiple factors:

  • Source of funds and transaction history
  • Geographic risk (customer location)
  • Transaction size and frequency patterns
  • Blockchain analysis and address reputation
  • Customer behavior and profile

5. Blocked Funds Procedure

When funds are flagged by our AML system:

  1. Funds are automatically held pending review
  2. User is notified of the hold and reason
  3. User may be requested to provide source of funds documentation
  4. Manual review is conducted by our compliance team
  5. Funds are released if cleared, or reported to authorities if confirmed illicit

6. Suspicious Activity Reporting

We are committed to reporting suspicious activities to relevant authorities as required by law. This includes filing Suspicious Activity Reports (SARs) when we identify potential money laundering or terrorist financing.

7. Record Keeping

We maintain comprehensive records of all transactions, customer identification documents, and compliance activities for a minimum of 5 years as required by AML regulations.

8. Staff Training

Our team receives regular training on AML compliance, including recognition of suspicious activity indicators and proper reporting procedures.

9. Sanctions Compliance

We screen all users and transactions against international sanctions lists including OFAC, UN, EU, and other relevant sanctions programs. We do not provide services to sanctioned individuals or entities.

10. Regulatory Cooperation

We cooperate fully with law enforcement and regulatory authorities in investigations related to money laundering, terrorist financing, or other financial crimes.

11. Contact

For AML-related inquiries, please contact our compliance team at [email protected]

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