1. General Clauses
1.1. The present AML/KYC Terms are prepared by ZOLVUS SRL . and describe the measures the Company is taking to prevent money laundering and financing of terrorism.
1.2. These Terms are based on the applicable laws and regulations and apply to all the services provided by the Company (hereinafter “Services”) on its website https://cryptocoinswap.io/ .
1.3. These Terms lay down requirements for screening the existing and potential Users in order to prevent transactions which may involve money laundering or financing of terrorism, and to ensure identification and reporting of such transactions in accordance with the applicable laws and regulations.
1.4. These Terms constitute an integral part of the Company’s Terms of Use. Any term that is not defined herein shall be interpreted in accordance with the definitions provided (if any) in the Company’s Terms of Use.
1.5. If you do not agree to these Terms, you must not access or otherwise use the Company’s Services
2. KYC/AML Measures
2.1. The Company assesses the nature and purpose of the User's activities to identify potential links to money laundering or terrorism financing. This evaluation is intended to gain insights into the purpose behind the User's actions, the nature of their activities, their risk profile, and, if necessary, the sources of funds.
2.2. The Company shall determine and implement due diligence measures based on the results of conducted risk assessment.
2.3. While conducting the risk assessment, the Company will pay special attention to circumstances which may indicate potential risk of money laundering or financing of terrorism.
2.4. The Company shall apply either normal KYC/AML measures, simplified KYC/AML measures, or enhanced KYC/AML measures, depending on the determined level of risk.
2.5. KYC/AML measures applied by the Company may include, but are not limited to, the following steps:
- Identifying the User and verifying its identity using reliable, independent sources, documents or data, including e-identifying;
- Screening the User against national and international sanctions lists;
- Requesting, obtaining, and assessing information related to the User, including but not limited to whether the User is a politically exposed person (PEP), a PEP's family member, or a PEP's close associate;
- Requesting and obtaining information from any third party, including but not limited to, government authorities
- Conducting ongoing KYC/AML checks on the User to ensure that the Company’s knowledge of the User and their source of funds is accurate and up-to-date.
2.6. To comply with the applicable KYC/AML obligations, the Company (or any third party appointed by the Company) has the right to:
- Request appropriate identity documents to identify the User;
- Request documents and information regarding the activities of the User and origin of funds;
- Screen the risk profile of the User, assess the risk whether the User is or may become involved in money laundering or financing of terrorism, and select the appropriate KYC/AML measures;
- Request the User to provide information regarding the source of wealth of the User, where appropriate;
- Re-identify the User, if there are any doubts regarding the correctness of the information received in the course of initial identification.
2.7. The Company may also apply continuous KYC/AML measures to ensure ongoing monitoring of Users and their activity. The ongoing monitoring of Users shall include the following steps:
- Keeping the documents, data and information obtained during the initial due diligence process up to date; and
- Paying particular attention to User’s actions that may lead to criminal activity, money laundering, or the financing of terrorism.
3. User Identification
3.1. When implementing KYC/AML measures, the Company shall ascertain the following:
- The identity of a User – a natural person using the Services;
- Whether the User qualifies as a PEP, a family member of a PEP, or a close associate of a PEP;
- The sources of wealth and funds;
- Any other information deemed necessary by the Company, e.g., supporting documents from government authorities.
3.2. The Company may request User to provide the following documents for the purpose of identification:
- Personal ID card;
- Passport or diplomatic passport;
- Travel document issued in a foreign country.
3.3. The Company may request the User to provide a copy of the page of their identity document which contains personal data and photo.
4. Risk assessment
4.1. The Company will determine a risk profile of a User based on information collected in accordance with these Terms.
4.2. The Company will apply one of the following risk categories:
- Low risk;
- Medium Risk;
- High risk.
4.3. The Company is entitled to apply any combination of AML/KYC measures based on a risk category of a User.
4.4. In accordance with applicable laws and international organization requirements, the Company may, as deemed appropriate, without the obligation to obtain the User's approval or provide any notification, report suspicious transactions to regulatory and/or law enforcement agencies.
4.5. The Company shall periodically refer to and consult lists published by local authorities and international organizations. These lists may include known terrorists or persons suspected of terrorist activities, terrorist organizations, high-risk countries, a list of countries subject to OFAC sanctions, jurisdictions with insufficient anti-money laundering procedures, and countries subject to sanctions. The purpose of this consultation is to determine whether the User, and/or the User's country of jurisdiction, is included in the aforementioned lists.
5. User’s covenants
5.1. The User hereby certifies that they have read and understood these Terms. The User shall operate in full compliance with the requirements and standards outlined in these Terms and with all applicable laws, regulations, and other requirements governing their activities as a client of the Company.
5.2. The User acknowledges their responsibility for their actions in accordance with the applicable AML laws and regulations. The User undertakes to assume full responsibility for any failure to comply with these laws and these Terms.
5.3. The User acknowledges that the Company reserves the right, without prior notice or liability, to refuse or discontinue providing its Services to the User if, in the Company's judgment, the User's risk profile is deemed unacceptable or if the User's actions are considered to pose a risk of money laundering or the financing of terrorism.
5.4. The User acknowledges that the Company may, at its discretion, update these Terms from time to time. Any modifications or amendments to these Terms will become effective upon posting the new Terms on the Website. Your continued use of the Services will be considered as acceptance of any changes made to these Terms from the previous version. If you disagree with the changes, you should stop using the Services.