Anti-Money Laundering Policy (Anti-Money Laundering Policy)
The SpbWMCasher service strongly warns users about the inadmissibility of using the platform to legalize funds obtained by criminal means, financing terrorism and any illegal actions. Using the service to purchase prohibited goods and services is strictly prohibited.
The legalization of criminally obtained funds is the process of concealing an illegal source of money by converting it into assets that look legal.
Basic provisions
In order to prevent illegal transactions, the Service sets strict requirements for all Applications created by Users:
1. The sender and the recipient of the Payment must be the same person. Transfers to third parties are prohibited.
2. All contact information entered by the User in the Application, as well as other personal information provided, must be up-to-date and reliable.
3. It is prohibited to create Applications using anonymous proxy servers or any other anonymous Internet connections.
Please read this policy and comply with all specified requirements to ensure the safety and legality of transactions.
The Anti—Money Laundering Policy (hereinafter referred to as the “AML Policy”) defines the procedures and mechanisms used by the SpbWMCasher Service to combat money laundering. The service adheres to the following principles:
1. Prohibition on establishing business relations with known criminals and/or terrorists.
2. The unacceptability of processing transactions related to known criminal and/or terrorist activities.
3. Prohibition on facilitating transactions that may be related to known criminal and/or terrorist activity.
4. The right to restrict or completely prohibit access to services for citizens of countries such as: Afghanistan, Bosnia and Herzegovina, USA, Democratic People’s Republic of Korea, Democratic Republic of the Congo, Eritrea, Ethiopia, Guyana, Iran, Iraq, Lao People’s Democratic Republic, Libya, Somalia, South Sudan, Sri LankaLanka, Sudan, Syria, Trinidad and Tobago, Tunisia, Uganda, Vanuatu, Ukraine.
5. Conducting customer verification procedures and transactions in accordance with established standards.
Compliance with this policy is mandatory to ensure the legality and security of all transactions through the SpbWMCasher Service.
The SpbWMCasher service implements verification procedures in accordance with the principles of combating money laundering, following the “Know Your Customer” (KYC) policy:
Users of the SpbWMCasher service are required to complete verification by providing a government identification document such as a passport or identification card. The Service reserves the right to collect user identification information in order to implement the AML Policy.
In addition, SpbWMCasher may request additional documents to verify the user’s identity, such as a bank statement or utility bill issued no earlier than three months in advance. These documents must contain the user’s full name and actual place of residence. In case of suspicion regarding the integrity of the information provided, the service has the right to request a photo or video for verification.
SpbWMCasher verifies the authenticity of the submitted documents and reserves the right to request additional information about users who may be assessed as dangerous or suspicious. If the user’s identification information changes or his actions arouse suspicion, the service has the right to request updated documents.
These measures are aimed at ensuring the safety and legality of transactions conducted through the SpbWMCasher Service.
Responsible for compliance with the AML Policy
An employee of SpbWMCasher is appointed responsible for compliance with the AML Policy. His responsibilities inсlude:
– Development and updating of internal policies and procedures for writing, reviewing, submitting and storing all reports required in accordance with applicable laws and regulations.
– Transaction monitoring and analysis of significant deviations from normal user behavior.
– Regular updating of the risk assessment related to operations.
The person responsible for compliance with the AML Policy has the authority to interact with law enforcement agencies that are engaged in preventing money laundering, terrorist financing and other illegal activities.
Transaction monitoring
Monitoring user transactions and analyzing the data obtained are key tools for risk assessment and identification of suspicious transactions. If there are suspicions of money laundering, the SpbWMCasher Service controls all transactions and reserves the right:
– Inform the relevant law enforcement agencies about suspicious transactions.
– Request additional information and documents from the user.
– Suspend or terminate the user’s account.
– Freeze assets and suspend the exchange until the circumstances are clarified.
– Return the funds to the user by canceling the exchange procedure, in accordance with the user agreement.
This list is not exhaustive. The AML Policy Compliance Officer monitors user transactions on a daily basis to assess whether suspicious activity needs to be reported.
SpbWMCasher uses a risk-based approach in accordance with international requirements to combat money laundering and terrorist financing. Thus, measures aimed at preventing money laundering and terrorist financing are correlated with the identified risks.
