Summary of Anti-Money Laundering and Know Your Customer Policy (AML & KYC)
To ensure compliance with EU directives and FATF recommendations, the brokers (hereinafter – brokers or Company) have established a Compliance department responsible for Anti-Money Laundering and Know Your Customer (AML & KYC) procedures, which are mandatory for all employees. These procedures define the policy for engaging with any individual or company holding an account on the website www.b2bx.exchange.
This summary outlines the core points of the Company's internal AML policy:
Know Your Customer Procedures
The brokers adhere to a robust KYC verification process for both individual and corporate clients, in line with local and international AML/CTF regulations. Different verification measures are applied to individual clients trading only in crypto and corporate clients trading both crypto and fiat. Upon the Company's request, clients must provide additional documents and information. Failure to comply with such requests may result in suspension or termination of the client’s relationship with the Company. Completing the necessary KYC questionnaire, passing liveness checks, and undergoing video verification are also mandatory requirements.
Monitoring Transactions
The brokers evaluate the reputation, geographic location, and licensing status of the client's bank. Clients are allowed to declare only one bank account for transactions, and all deposits and withdrawals must be made from/to the declared account. The Company performs real-time transaction checks. If there is evidence or signs of suspicious activity, cash or crypto deposits from untrusted sources, or any actions indicative of fraud, the Company reserves the right to conduct an internal investigation, block or close the Customer’s Trading Room or any Account, cancel any payment or trading order, and suspend operations on the accounts.
AML/Sanctions Screening
The brokers implement safeguards to prevent involvement in money laundering and terrorist financing through the screening of all clients (including controllers and beneficial owners), including sanctions screening. The Company is also required to maintain up-to-date information on clients’ beneficial ownership and conduct regular reviews of client activities.
Geographic Provision of Services
The Company does not provide services to individuals located in jurisdictions identified by the EU and FATF as high-risk or non-cooperative, according to official lists (e.g., Iran, North Korea). Additionally, the Company does not offer services to U.S. citizens and residents.
Risk Assessment
The Company applies a Risk-Based Approach throughout its operations, which includes identifying, assessing, understanding, and mitigating AML/CTF risks by considering factors such as customer type, product, geographic location, and service channels.