AML/KYC agreement is a legal binding agreement between the Company and its Customers, made to ensure Quality and Safety of use on the Websites. Both Individual (private persons) and Business (corporate and institution) Customers are subjected to this agreement.
In order to protect the Assets of our customers and to ensure the compliance meet the international trade standards, Crypto Merx OU (hereinafter “The Company”) is operating exclusively in accordance with the legislation on combating illicit money laundering and countering the terrorism financing. To monitor the accordance with the legal requirements and recommendations of FATF, we have established a Compliance department developing Anti-Money Laundering and Know Your Customer (AML / KYC) Procedures, those procedures are obligatory for all employees and determining The Company policy of engagement with any person or company which have registered on www.quamtor.com website or the exchange platform app.quamtor.com (hereinafter “Websites”) in order to receive services (hereinafter “Customer”, “Customers”).Compliance Department main objective is to ensure all Company operations are consistent with the international standards to combat money laundering and all the documents provided by the Customer are up-to-date and comply with relevant legal requirements.
By performing the registration on our Websites, the Customer makes complete and unconditional acceptance of the policy conditions, agrees with the following rules, and undertakes to observe them:
1. All Customers of the Websites agrees to go thru PEP Screening, AML, KYC Verification process made by a reputable third-party software which the Company have agreement with, provide the required KYC documents prior to completion of the financial relationship from both sides. In case the Customer would like to receive more information about the company please do not hesitate to contact us.
2. All Crypto based exchange transactions on the Blockchain will be monitored by reputable KYT (Know Your Transactions) third-party software, this software will check the origin of the Crypto in case of Customer exchanging Crypto to Fiat on the Websites, preforming a “Sell” Transaction. in case of any alerts by the software the Company will inform the relevant authorities. The Websites may also check the Customer wallet to ensure its origin are not of any suspicious activity. In case the Customer would like to receive more information about the company please do not hesitate to contact us.
3. All Customers of the Websites are treated in the same manner, therefore the AML (Anti-Money Laundering) requirements are the same. diﬀerence in requirements may vary in accordance with Account Levels. The Company may, based on its sole discretion, request additional information from Customers. The specific requirements and applied limits are specified at the bottom of this AML & KYC Policy.
4. Customers who successfully pass the KYC which is associated with the relevant Account Level will obtain all benefits foreseen for this account Level. The Websites will try to perform KYC procedures as soon as possible, however in separate circumstances it may take several days.
5. Corporate and Institutional Customers are recognized as Customers in the level of Account Level 3, they also may be subjected for enhanced KYC measures on a Case by Case basis depending on Country of incorporation, Business activity, etc.
6. Even though the Company holds European Licenses allowing provision of exchanging and storing Digital Currencies (hereinafter “Cryptocurrencies”) to its Customer, All Customers are liable to check the local legislation and/or rules regarding Cryptocurrencies in their own country and agrees not to indemnify, under any circumstances, the Company or any of its employees, nor hold The company or any of its employees responsible, should the Customer fail to act based on or comply with their country of origin or residency rules and legislations in regards to the provision of Cryptocurrencies service by the Company. The Customer will hold full responsibility to check and act on the local rules, legislations and restrictions in which the Customer is subjected to including but not limited to, investments tax, profits tax, any other government laws, tax, legislation or restrictions.
7. The Company requests of any additional documents and/or information should be provided by the Customer. Filling of respective KYC questionnaire may also be an obligatory requirement under Websites sole decision. The Customer agrees with such requirements of the Websites and agrees to follow them.
8. The Company is obliged and has the right without obtaining prior consent to share with financial institutions and law enforcement agencies any information about the Customer, as required by applicable law, and the Customer gives the Websites its consent to these actions. In order to comply with this paragraph, The Company shell hold records about Customer’s transactions during period of five years.
9. The Customer undertakes to follow the legislation, including international one, aiming to combat illicit traﬃcking, financial fraud, money laundering and legalization of funds obtained by illegal means. The Customer undertakes to use its best eﬀort to avoid direct or indirect participation in illegal financial activities and any illegal transactions using the Websites and Services.
10. The Customer guarantees the legal origin, legal ownership and the right to use the Assets transferred to its wallets or bank accounts.
11. In case of the evidence of suspicious transactions in the Customer account, cash replenishments from untrusted sources and / or any actions with attributes of fraud (including any refunds or cancellation of payments), the Company reserves the right to conduct an internal investigation, to block or close the Customer’s Account, cancel any payment or exchanging order and suspend operations on the Customer’s account until the end of the oﬃcial investigation. When making the decision the Company is guided by the provisions of the applicable law, FATF recommendations or by common practice, based on its sole discretion.
12. The Company reserves the right to request additional information from the Customer if the method of withdrawal Assets is diﬀerent from the depositing method. The Company also reserves the right to block the Customer’s Account during the investigation should a Customer refuse to provide the additional information requested by the Company.
13. In the course of investigation the Company has the right to request additional copies of documents confirming the identity of the Customer, including but not limited to, copies of bank cards used to replenish the account, payment documents, other documents confirming the lawful possession and legal origin of funds. The Company also reserves the rights to demand the provision of original documents for review in case of any doubts from Company’s side.
14. The Company does not provide Services to the persons who are residents of jurisdictions that are identified by the FATF as high risk and non-cooperative jurisdictions having strategic AML/CFT deficiencies, namely North Korea and Iran.
15. The Company doesn’t provide services to citizens and residents of USA.
16. The Company reserve the rights to refuse performing the operations that from Company’s point of view are considered to be a suspicious, using of preventive measures (such as blocking or closing of a Customer’s account) is not the reason for civil liability of the Company for failure to fulfill obligations to the Customer.
17. The Company is not obliged to inform the Customer or other persons about the measures taken to fulfill the AML/CFT legislation. the Company is not obliged to inform Customers or other persons about any suspicions, about the reasons of refuse of execution of a Customer’s order, to open the Account, need for providing Customer’s documents, etc.
18. This Anti-money laundering and Know your customer policy is an integral part of the Customer agreement, located on the Websites. Non-compliance with this policy may result in termination of the Customer agreement, based on the Company sole discretion.
Proof of Identity (POI ) Any government issued identity.
Proof of Residency (POR) Utility bill, Bank statement or any Government issued document showing the name and address of the customer dated within the last 3 month of account opening date.
Deceleration of Deposit (DOD) Declaration of deposit, issued by the Company showing the Customer acknowledging the deposit details, must be signed by the Customer.
Policies and Agreements Customer must agree by checking the boxes, to ALL Agreements and Policies on the websites, prior to establish any financial relationship with the Company.
Source of Funds (SOF) Acceptable Source of Funds are:
Savings Account – A bank statements from the last 6 months showing the funds in your bank account.
Sale of Assets – A copy of your bank statement showing the money being received from the solicitor following the sale.
Salary Income – A bank statements for the last 6 months showing an accumulation of funds in your bank account.
Company Shares – A copy of the share release schedule and a copy of your bank statement showing the money being received from the shares.
Pension – A copy of your pension release document and a copy of your bank statement showing the money being received from the pension company.
Inheritance – A copy of your bank statement showing the money being received from the solicitor/executor’s bank account.
Company Dividends – A copy of your dividend certificate, a copy of the company’s accounts and a copy of your bank statement showing the money being received from the Company.
VERIFICATION LEVELS ARE SEGMENTED BY TRANSACTIONS AMOUNT
Level 1 up to 4,999.
Level 2 5,000 to 14,999.
Level 3 14,999 and above.
*amounts are respective to account currency
Level 1 POI, POR, Policies & Agreements.
Level 2 POI, POR, DOD, Policies & Agreements.
Level 3 POI, POR, DOD, SOF, Policies & Agreements.
This policy is applied for the Corporate and Institutional Customers only (hereinafter “Business”), the Company allowing to apply to Account Level 3 for Business in this category, however they must go through the obligatory enhanced verification process.
The Company reserves its right to refuse the Business in provision of services if during the process of verification, it is discovered that the Customer do not correspond with the Company KYC requirements. The Company also have a right to terminate the existing relationships with the Business in any time in case if the Business considered to be violating the Company KYC requirements.
Upon The Company request of any additional documents and/or information those should be provided by the Business, shell the Business refuse to provide such documents or information this also may lead to the Company refuse or termination of provision of all services.
Verification measures may vary on case by case basis, and including but not limited to, third-party software checks, due diligence, any or all public information about the Business history.