1. AML Policy regulates the activity of Satoshi.cx exchange bureau with regard to anti-money laundering and use of the service for the purpose of money laundering. This AML Policy is based on:
– Recommendations of the intergovernmental financial monitoring organization FATF (Financial Action Task Force on Money Laundering).
2. On the basis of this AML Policy the Exchange analyzes, monitors and controls transactions (AML-checking) carried out with the help of Satoshi.cx service.
3. While checking transactions (AML check) for anti-money laundering, the Exchange shall focus on high risk parameters. The high-risk parameters are: “Child Exploitation”; “Fraud Shop”; “High-Risk Jurisdiction”; “Illicit Actor/Organization”; “Terrorism Financing”; “Dark Service” ; “Dark Market” ; “Exchange Fraudulent” ; “Scam” ; “Illegal Service” ; “Stolen” ; “Mixer” ; “Ransom” ; “Enforcement Action” ; “Gambling” ; “Sanctions”; “CommEx”; “Garantex”; “NetEx24. net. net” ; ‘Bitpapa.com’ ; ‘Capitalist’ ; ‘rapira.net’.
4. If a detailed analysis reveals the presence of high-risk parameters in a transaction from clause 3 of this “AML Policy” – the exchange has the right to:
4.1 Stop the application and withhold the Customer’s funds until the incident is fully investigated;.
4.2 Request User Identity Verification (UID) – Know Your Customer process as per FATF requirements and recommendations.
5. The Exchange has the right to request full or simplified verification depending on high risk parameters.
6. Identity verification must be provided only with the user data that is specified in the application.
7. Refunds of customer’s funds with high risk parameters shall be made only after the user’s identity verification (CUS) has been passed.
7.1 In case of refunds of transactions with high risk parameters, the commission of the exchange office is conditioned by labor costs of specialists for analysis and processing of the transaction, organization of refunds.
7.2 The refund shall be made only to the details specified in the application.
7.3 The method of returning a high-risk transaction to the client shall be determined by the exchange bureau depending on technical feasibility. 8.
8. The Exchange shall have the right to refuse further service to the client in case of detection of high-risk parameters of the transaction.
9. In order to minimize the risks of money laundering and terrorism financing, the Service reserves the right to refuse to provide exchange services at any stage in case of assumption that the exchange is in any way connected with the purposes of money laundering, terrorism financing or other illegal activities according to the legislation of the state where the Service is placed, the state where the User is a resident, or according to international legislation.
10. Any disputes related to the terms of these Rules, the parties to the offer undertake to settle through negotiations. In case of failure to reach an agreement, all disputes shall be resolved in accordance with the laws of the state of location of the Respondent.
14. Information on exchange operations is stored in the database of the Service and is a priority source, on which the parties to the offer, established by these Rules, in disputes.
15. List of prohibited jurisdictions for the use of Satoshi.cx Service: USA, Afghanistan, Somalia, South Sudan, Democratic Republic of Congo, Trinidad and Tobago, Uganda, Vanuatu, Russia, Belarus.
