ZOLT EXCHANGER KYC/AML POLICY
Zoltexchanger.com as an E-Currency Exchange service provider has a Responsibility and a commitment to prohibit and actively prevent Money Laundering and any activity that facilitates money laundering or the funding of terrorism or any other criminal activities. To fulfill this goal we have implemented a specific, comprehensive, internal Anti-money Laundering Policy.
WHAT IS MONEY LAUNDERING?
Money Laundering is the act of converting money or other monetary instruments gained from the illegal activity into money or investments that appear to be legitimate so that its illegal source cannot be traced. According to tough financial regulations, it is illegal for Zolt Exchanger its employees, customer or exchanger to knowingly engage, or attempt to engage in a monetary transaction in criminally derived property.
Money laundering is generally defined as engaging in acts designed to conceal or disguise the true origins of criminally derived proceeds so that the unlawful proceeds appear to have been derived from legitimate origins or constitute legitimate assets. Generally, money laundering occurs in three stages:
(1) Cash first enters the financial system at the "placement" stage, where the cash generated from criminal activities is converted into monetary instruments, such as money orders or traveler's checks, or deposited into accounts at financial institutions.
(2) At the "layering" stage, the funds are transferred or moved into other accounts or other financial institutions to further separate the money from its criminal origin.
(3) At the "integration" stage, the funds are reintroduced into the economy and used to purchase legitimate assets or to fund other criminal activities or legitimate businesses. Terrorist financing may not involve the proceeds of criminal conduct, but rather attempt to conceal the origin or intended use of the funds, which will later be used for criminal purposes.
1. The sender account of the payment must be the same person name account as the payee. Third party payment strictly prohibited.
2. All the contact detail stated in the User's profile and Orders must be truthful and correct.
3. Order formed through anonymous proxy-servers, or any other anonymous Internet connections, are strictly prohibited.
Prevent unlawful activity in order. the Service: - Strictly monitoring users transactions and users activity' behavior (also called "fraud prevention system"), blocking any suspicious activity or user account. - Sets limits on users ‘transaction, depending on the level of their verification and the country of residence.
CUSTOMER IDENTIFICATION AND VERIFICATION:
We collect certain customer identification information from each customer who opens or maintains an account. We record customer identification information, verification methods, and the results; documents are requested by all existing clients and prospective clients are notified that certain document is required in order to open or maintains an account. We verify customer identity through documentary evidence. We use documents to verify customer identity when appropriate documents are available. We understand that we are not required to take steps to determine whether the document that the customer has provided to us for identity verification has been validly issued and that we may rely on a government- issued identification as verification of a customer's identity. If, however, we note that any document shows some obvious form of fraud, we consider that factor in determining whether we can form a reasonable belief that we know the customer's true identity
Observation Know your Customer (KYC Policy)
We gather each customer identification Document and Address proof (i.e. PAN Card, Passport or Driving License), without verification we do not allow to user use of our service. We mandate each customer to update his profile time to time, in profile section user detail First, Last name, Address, City, zip, and Mobile number. More take care of miss-use of Document or
account we mandate user document name, profile name, Bank Account Name and E-Currency Account name must match.
-performs verification of the data and document provided by a user,
The Service reserves the right to suspend the account of the User and their Orders until the User provides the proof of the funds’ origin and other documents requested by the service in connection with the issue, in the following cases:
- if a violation of AML policy agreement;
- If order is suspended by the Fraud Prevention System;
- if the amount of transactions done by the User during the last 3 days totals more than 500 U.S. dollars(or the respective equivalent in other currencies.)
- In the case of a grounded suspicion of the User's abusive/illegal actions, which may or not involve money laundering. The User pledges to provide the required document during 7 days from the moment it was requested or ask for the cancellation of the transaction.
- In the case of the User's failure to provide the required documents, the Service reserves the right to refuse service in further, and users all Order refused and refund made to the user account in 24hrs.
-in case an episode of activity related to money laundering, financing terrorist organizations, fraud of any kind, as well as any other unlawful activities;
- in the case of a grounded suspicion that the ID provided by the User is fake/expired/invalid;
- in case the source of the User's funds is suspicious according to the information from a law enforcement agency;
- in the case of the User's attempts to inflict a negative influence over the hardware and software complex of the Service;
- in the case of the User's attempts to steal any data and/or other material or intellectual property of the Service;
- in the case of the User's attempts to cause damage of any kind to the Service.
Zolt Exchanger views money laundering as a serious criminal offense, and as such, complies with requirements intended to prevent money laundering.
(1) We are required to verify your identity and address.
ZoltExchanger requires all clients to provide their personal information that must be confirmed by the supporting documents you send us. We strictly comply AML policy. So we requested to our all valuable customer for Buy, Sell & Exchanger Digital currency your ZoltExchanger account must verify thereafter we can process your order, please cooperate us.
Supported Proof of Identity Documents Containing Name and Photo (any one):
2. PAN Card
3. Ration Card
4. Voter ID
5. Driving License
6. Addhar Card
6. Government Photo ID Cards
Proof of Address Documents Containing Name and Address (any one):
2. Bank Statement + Passbook
3. Ration Card
4. Voter ID
5. Driving License
6. Government Photo ID cards
7. Electricity Bill (not older than 3 months)
8. Water bill (not older than 3 months)
9. Telephone Landline Bill (not older than 3 months)
10. Property Tax Receipt (not older than 3 months)
11. Credit Card Statement (not older than 3 months)
Please make sure that the proof of ID & address documents meets the following requirements before uploading:
Identity Proof Documents requirements
1. We only accept government issued ID documents displaying your full name and your photo.
2. Identification document has a document number & Verification documents are valid and contain date of issue/expiration date (minimal validity of ID is one year)
3. Please note: Company access cards, certificates, student ID cards and other non-official documents are NOT accepted.
4. The documents are in English (Latin letters), otherwise certified translations should be provided.
5. Scanned images quality: color, high-resolution (at least 150 dpi). Verification documents must be standard full-sized pages (uncropped) you can upload files in JPEG, PNG, BMP, TIFF or PDF formats. Any unclear, altered, low-resolution, or poor quality images will be rejected. No more than 2 MB.
6. Your uploaded file name should be Rename of your documents type.
Address Proof Documents requirements:
1. We only accept legal and traceable documents (scanned papers) displaying your full name and residential address like a utility bill, stamped bank statement etc.
2. Please note Personal identification with address, envelopes, P.O. Box statements, electronic documents, and screenshots are NOT accepted.
NOTE - Avoid misuse of ID Proof and address proof, your bank account and our website account name must match with your uploaded documents.
(2) We are required to keep full records of all transactions together with identification provided.
(3) We are required to monitor any unusual or suspicious transactions of any size.
Any information about your identity is held confidentially and will help stop your identity being used falsely. Please note that Zolt Exchanger has the right to refuse a transaction at any time should suspicion arise that it may be connected to money laundering or any other criminal activity. Providing Zolt Exchanger with false verification documents or contact details will be deem as a misuse of our terms of service and you may be the subject of a criminal investigation. Zolt Exchanger will not do business with anyone suspected of or directly involved in money laundering or where funds have been sourced by any illegal activity.