AML and KYC Policy

In consideration of user safety and in adherence to legal compliance requirements applicable globally, xtraders645.com has established a comprehensive Know Your Customer (KYC) policy for customer identification and Anti-Money Laundering/Counter-Terrorist Financing (AML/CTF) measures, aligning with the standards imposed on banks and financial institutions.

These policies are designed to effectively combat money laundering and terrorist financing on our exchange by ensuring the proper identification of our account users and vigilant monitoring of their transactions. We are committed to identifying and halting transactions primarily aimed at concealing the illicit origin of funds, funding illegal activities, or engaging in other unlawful behaviors.

The specific details of our policies are treated as confidential and are intended for internal use only, with the aim of preventing their circumvention by dishonest or fraudulent users. We would like to acquaint you with some of the general rules and provisions of our policies that directly pertain to you and impact the services we provide.

User Identity Verification

It is mandatory for us to ascertain, with a high degree of certainty, the identity of individuals seeking to conduct transactions on our exchange. This necessitates the collection of Proof of Identity, the authenticity of which is verified using specialized software

Governmental documentation standards vary across countries.

Our customer support team will reach out to you to address any concerns and resolve issues that may arise.

If we cannot establish, with a high degree of certainty, that the submitted documents are genuine and indeed belong to you, we regret to inform you that we will be unable to authorize any transaction executions on your behalf.

Transaction Monitoring and Oversight

Every transaction undergoes scrutiny for signs of suspicious and unusual activities. AML specialists thoroughly analyze selected transactions, assessing them in relation to significant Anti-Money Laundering/Counter-Terrorist Financing (AML/CTF) risks. In specific cases, such transactions may need to be halted until clarification is obtained from the user.

Enhanced Verification Procedures

As your trading volume increases, our Anti-Money Laundering/Counter-Terrorist Financing (AML/CTF) verification responsibilities also escalate. Likewise, when your transactions are identified as "flagged" due to suspicion or unusual patterns, or when our assessment of your personal data designates you as posing a significant AML/CTF risk, additional verification becomes necessary

In such instances, we will request supplementary documentation to authenticate your precise place of residence, educational background, occupation, and the source of funds utilized on the exchange. If the information provided fails to meet AML/CTF requirements, we may be compelled to terminate our collaboration with you. Additionally, under certain circumstances, we are obligated to report your transactions to the relevant authorities.

Basic AML / CTF Rules

Company operating rules include:

1. No cash deposits or cash withdrawals processed under any circumstances.
2. No third party deposits, no joint or shared accounts, no management of the account on behalf of the user, etc.
3. No exceptions in the field of documentation required from users is allowed.
4. In cases of suspicion of AML/CTF risk, the right is reserved to refuse to process a User transaction at any time.
5. There is an obligation to report suspicious user behaviours to relevant authorities without obligation to inform the user. Informing the user is prohibited in certain cases.

Sanctioned countries

Consistent with our policies, we refrain from opening accounts or facilitating transactions for individuals, residents, or temporary visitors in countries where transactions are forbidden by international sanctions or internal legal regulations. This prohibition also extends to countries meeting specific criteria, such as those identified in the Corruption Perceptions Index by Transparency International, FATF warnings, and nations with weak Anti-Money Laundering/Counter-Terrorist Financing (AML/CTF) regimes as determined by the European Commission, due to their elevated AML/CTF risk levels.

Levels of KYC Verification

As your trading volume escalates, so does the associated Anti-Money Laundering/CounterTerrorist Financing (AML/CTF) risk. Our three-tier verification system operates on the fundamental principle that as the amount of money or cryptocurrencies you deposit or intend to withdraw increases, additional information about you and your funds is essential to mitigate AML/CTF risks, in compliance with legal mandates.

This model is a reflection of the collaborative efforts and insights of AML/CTF regulators and evolves in tandem with changes in the legal requirements of various countries. Periodic audits and assessments of the efficiency of our procedures result in alterations to deposit and withdrawal limits and processes. Rest assured, you will be promptly informed if any modifications impact your circumstances.