AML/KYC Policy
The AML (Anti-Money Laundering Policy) is aimed at identifying illegal transactions related to terrorism financing, money laundering, and any other illegal activities. To identify such transactions, FastEx Service monitors such transactions for the presence and degree of risk in various zones, as well as for previous connections of the sender's address in the blockchain.
To prevent illegal operations, the Service establishes certain requirements for all Applications created by the User:
1. The sender and recipient of the Payment for the Application must be the same person. Transfers to third parties are prohibited.
2. Contact information entered by the User in the Application, as well as other personal data transmitted by the User to the Service, must be current and accurate.
3. When transferring from a bank card, the User must undergo a mandatory bank card verification procedure provided by the Service.
4. The Service reserves the right to refuse to provide access to the service to Users who are citizens of the following countries: Afghanistan, Albania, Angola, Algeria, Bangladesh, Bolivia, Botswana, Burma (Myanmar), Burundi, Chad, Congo, Conakry, Ivory Coast, Democratic People's Republic of Korea (DPRK), Equatorial Guinea, Eritrea, Ghana, Guinea-Bissau, Haiti, Guyana, Iraq, Iran, Lao People's Democratic Republic, Lebanon, Libya, Mali, Morocco, Nepal, Nicaragua, North Macedonia, Pakistan, Qatar, Saudi Arabia, Somalia, South Sudan, Sudan, Syria, Tunisia, Uganda, Vanuatu, Yemen, Zimbabwe.
5. The Service reserves the right to withhold a commission of up to 10% when refunding funds with high risk.
FastEx Service establishes its own verification procedures within the framework of anti-money laundering standards – the "Know Your Customer" (KYC) policy:
1. Users of FastEx Service undergo a verification procedure (provide a government identification document: passport or identification card). FastEx Service reserves the right to collect User identification information for the purposes of implementing the AML Policy. This information is processed and stored strictly in accordance with clause 3.9 of the Service Rules.
2. FastEx Service may also request a second document to identify the User: a bank statement or utility bill no older than 3 months, which indicates the User's full name and actual place of residence. The service also reserves the right to request photo/video verification of the client if there are suspicions of dishonesty in the information provided.
3. FastEx Service verifies the authenticity of documents and information provided by Users and reserves the right to obtain additional information about Users who have been identified as dangerous or suspicious.
If the User's identification information has been changed or their activity seems suspicious, FastEx Service has the right to request updated documents from the User, even if they have passed authenticity verification in the past.