AML/KYC Policy for OKpays.com:
1. Introduction
The Anti-Money Laundering and Know Your Customer Policy (hereinafter referred to as “AML/KYC Policy”) is aimed at preventing and mitigating potential risks of OKpays.com being involved in any illegal activities.
2. Purpose of Internal Regulation
OKpays.com adheres to the best practices and measures in the field of combating money laundering and terrorism financing (AML). The purpose of these measures is to demonstrate that OKpays.com takes seriously any attempt to use its services for illegal purposes.
3. Caution
OKpays.com warns its users against using its services for illegal activities such as money laundering, terrorist financing, fraud, and the purchase of prohibited goods and services.
OKpays.com, its administration, employees, and domain owners are not responsible for any misuse of its services by third parties or for any damages associated with such misuse.
4. Requirements
To prevent illegal operations, OKpays.com sets the following requirements for all transactions:
4.1. The sender and recipient of the payment must be the same person. Transfers to third parties are strictly prohibited.
4.2. All contact information and personal data provided by the user must be up-to-date and accurate.
4.3. It is strictly forbidden to use anonymous proxy servers, VPNs, Tor, or any other anonymous internet connections to create transactions on OKpays.com.
5. Verification Procedures
Customer due diligence is an international standard for preventing illegal activities, which includes verification procedures. OKpays.com implements its own verification procedures in strict compliance with anti-money laundering standards and the “Know Your Customer” procedure.
5.1. OKpays.com may require users to provide reliable and independent source documents, data, or information, such as a national ID card, international passport, or bank statement. To comply with the AML/KYC Policy, OKpays.com reserves the right to collect users’ identification information.
5.2. OKpays.com will verify the authenticity of documents and information provided by users through legal methods, and reserves the right to investigate cases where a user’s identity is deemed dangerous or suspicious.
5.3. OKpays.com reserves the right to verify a user’s identity on an ongoing basis, especially if their identification information has changed or their activity seems unusual or suspicious. The company may also request up-to-date documents from users, even if they have been authenticated in the past.
5.4. User identification information will be collected, stored, shared, and protected strictly in accordance with OKpays.com’s Privacy Policy and related rules.
5.5. After confirming a user’s identity, OKpays.com may refuse to provide services if their platform is being used for illegal activities.
5.6. Users who intend to use payment cards for the purpose of consuming services must undergo card verification in accordance with the instructions available on the OKpays.com website.
5.7. OKpays.com is required to verify the source of funds or cryptocurrencies to ensure that the sources of funds used by users for trading are legal.
Record Keeping
OKpays.com will maintain accurate and up-to-date records of all transactions and customer identification information for a minimum of 10 years, in compliance with regulatory requirements. These records will be kept confidential and secure and will only be disclosed to authorized parties in accordance with applicable laws and regulations.
6. Responsible Official
The AML / KYC Policy is overseen by a designated AML Compliance Officer who is responsible for ensuring that OKpays.com implements and enforces effective measures to prevent and combat money laundering and terrorist financing.
6.1. The AML Compliance Officer’s responsibilities inсlude:
- Collecting user identification information to verify the identity of users.
- Developing and updating internal policies and procedures for completing, reviewing, submitting, and storing all reports and records required by applicable laws and regulations.
- Monitoring transactions and investigating any significant deviations from normal activities.
- Implementing a records management systеm for appropriate storage and retrieval of documents, files, forms, and logs.
- Regularly updating the risk assessment to identify potential vulnerabilities and weaknesses in the AML / KYC program.
- Providing law enforcement agencies with information required by applicable laws and regulations.
6.2. The AML Compliance Officer has the authority to communicate and cooperate with law enforcement agencies that are involved in preventing money laundering, terrorist financing, and other illegal activities.
7. systеm functions
OKpays.com is equipped with a comprehensive systеm that performs various compliance tasks, such as collecting data, filtering, record keeping, managing investigations, and reporting. The systеm features inсlude:
Daily verification of Users against recognized blacklists (e.g. OFAC), consolidating transactions across multiple data points, placing Users on watchlists and denying services, opening investigation cases where necessary, sending internal messages, and filing mandatory reports, if applicable.
Efficient management of affairs and documents.
8. Behavior analysis
OKpays.com verifies the behavior of its Users not only by verifying their identity but also by analyzing their transactional behavior. Therefore, data analysis is an essential tool used by the OKpays.com Service to assess risk and detect suspicious activity.
9. Risk assessments
OKpays.com follows international requirements by applying risk assessment practices to combat money laundering and terrorist financing. The use of these practices helps ensure that measures to prevent or mitigate money laundering and terrorist financing are proportionate to the identified risks.
10. Conducting customer checks
If the OKpays.com service administration suspects that a User is attempting to use the service for money laundering or other illegal activities, the administration has the right to:
10.1. Suspend the User’s exchange operation.
10.2. Request identification documents from the User.
10.3. Request any additional information and documents from the User in case of suspicious transactions.
10.4. Report any suspicious transactions to the relevant law enforcement authorities through the AML Compliance Officer.
11. Confidentiality and Disclosure
The OKpays.com service is committed to maintaining the confidentiality of client information in accordance with its privacy policy.
11.1. The OKpays.com service and its employees are bound by confidentiality agreements with respect to any information related to questionable transactions. This confidentiality obligation also applies to users of the service and third parties who may have access to transaction information.
11.2. The confidentiality obligation remains in effect even after an employee or contractor’s relationship with OKpays.com has ended or if they move to another company. The obligation to maintain confidentiality does not apply in cases where disclosure is required by law, including disclosures to law enforcement and government agencies.
11.3. The obligation to maintain confidentiality may not apply to disclosures made between financial institutions forming a consolidated group that cooperates with the OKpays.com service, provided the use of disclosed information is restricted to preventing money laundering and terrorist financing.
12. Disclaimer of Liability
OKpays.com does not accept any legal responsibility for the use of its services for money laundering, terrorist financing, or the purchase of prohibited goods or services. However, the service is committed to taking all necessary measures to prevent the use of its services for such purposes.
By making an exchange, the user agrees to the terms and conditions of these policies, as outlined in exchange rules, and agrees to comply with them.
