AML/KYC

This Know Your Customer (KYC) Policy is an integral part of the Kriptom Terms of Service. It is mandatory for you to read these terms before using any service provided by Kriptom.com. Please note that by accessing any service provided by Kriptom.com, you agree that you have read both the Terms of Service and this KYC Policy and that you have accepted the other instructions attached to these agreements by allowing the data transfer. This agreement includes your compliance with this policy to the fullest extent of your due diligence. If you do not agree to any provision of this policy or if you are unable to comply with our KYC requirements set out below, you should not use any service provided. Your continued use of the Kriptom services indicates that you have accepted and agree to comply with all features and updates within the KYC Policy or any agreement attached to this agreement.

1. Our Compliance Measuress

1.1. This policy defines the requirements for screening customers and their transactions to identify and prevent potential risks related to money laundering, terrorism financing, fraud, and other financial crimes or illegal activities. It reflects our commitment to safeguarding the security of our customers and partners.

1.2. This policy adopts a risk-based approach, evaluating and managing varying levels of risk linked to different clients and transactions to ensure a customized and efficient response to potential financial crime threats.

1.3. The policy aligns with globally recognized guidelines and recommendations established by the Financial Action Task Force (FATF), which sets international standards for combating financial crimes. By adhering to FATF standards, Kriptom.com strives to enhance the effectiveness of its compliance measures and ensure they remain adaptable to the ever-changing landscape of these threats.

1.4. This policy applies to all matters concerning financial transactions conducted on the Kriptom.com platforms.

2. Risk-based approach

2.1. Kriptom.com's KYC policy is aligned with FATF recommendations, specifically tailored to evaluate risks related to virtual asset service providers.

2.2. In alignment with our compliance policy and procedures, clients and their transactions are categorized into specific risk levels. This segmentation allows for a more focused application of resources, ensuring that higher-risk categories receive heightened scrutiny. The application of KYC procedures is tailored according to the assigned risk category, ensuring a proportionate and effective approach to risk management. By adopting this methodology, we not only comply with regulatory requirements but also strengthen our ability to detect and mitigate potential threats proactively.

2.3. We have continuous risk assessment procedures in place to ensure that client risk profiles and transaction risk levels are regularly reviewed and adjusted as needed. This process is aligned with evolving regulatory requirements, changing circumstances, and industry best practices, ensuring that our approach remains proactive and effective.

3. Transaction monitoring

3.1. Kriptom.com utilizes advanced technological solutions to perform real-time, in-depth blockchain analytics, allowing us to detect patterns that may indicate compliance red flags. When potential risks are identified, our system promptly generates alerts to trigger an immediate response protocol.

3.2. The security and compliance teams are responsible for evaluating these alerts and conducting thorough investigations in accordance with Kriptom.com's internal policies and regulatory requirements.

3.3. These alerts are managed with the highest level of confidentiality, fully complying with Kriptom.com's policies and regulatory obligations. We prioritize the privacy of your KYC and transaction data above all else.

3.4. Kriptom.com reserves the right to temporarily freeze any transaction if deemed necessary for the duration of an investigation or client verification process. If your transaction is delayed, please contact [email protected] for further assistance. We are committed to minimizing any inconvenience during this process and will resume normal operations as quickly as possible upon completion of the investigation and client checks.

4. Client checks

4.1. As part of Kriptom.com's commitment to delivering efficient and streamlined services without compromising on compliance, we offer a ‘free from sign-up,’ ‘no KYC,’ or ‘membership-free’ approach exclusively for scenarios identified as low-risk. However, if our monitoring system detects potential red-flag indicators, we will escalate the verification procedures and conduct a thorough client check.

4.2. Kriptom.com reserves the right to require clients to complete mandatory KYC checks on any transaction at its discretion. This action is triggered by certain factors identified during our ongoing risk assessment and monitoring processes. We implement these checks as needed to maintain the security and integrity of our platform and to ensure compliance with regulatory requirements.

4.3. The checks are categorized into two distinct levels: standard and enhanced. The criteria for determining whether a transaction or client is subject to a specific type of check are at Kriptom.com’s sole discretion, guided by our security and compliance protocols, as well as regulatory requirements.

4.4. As part of client verification, the following information and documents are required: full name, date of birth, address (with proof for certain jurisdictions), contact information (phone number, email address), government-issued identification documents (such as a national ID card, passport, driver’s license, or any other government-issued photo ID), details regarding whether the client is a Politically Exposed Person (‘PEP’) or associated with a PEP, and a selfie with the ID document.

4.5. Additionally, the following documents and information may be requested: a declaration outlining the expected pattern and volume of transactions; detailed information regarding the nature and purpose of transactions; documentation of the source of funds and source of wealth (such as bank statements, pay slips, contracts, business income documentation, etc.); proof of address (including recent utility bills, bank statements, property tax receipts, government-issued residence certificates); occupational information, employment verification, business registration documents for self-employed individuals or business owners, and any other documents or information at Kriptom.com’s discretion.

4.6. Clients may be asked to undergo a real-time liveness check, where their face is compared with the government-issued identification document they have provided.

4.7. Continuous monitoring and assessment of the client's transactions and activities are essential components of our due diligence process, ensuring that their risk status is regularly updated and any necessary adjustments to due diligence measures are made.

5. Client’s responsibilities

5.1. Clients must ensure that the information provided during the client verification process is accurate and up-to-date. This includes submitting valid and pertinent documents and details as specified in Sections 4.4 and 4.5 above. It is the client's responsibility to update their personal and financial information promptly to maintain compliance and accuracy. Inaccurate or outdated information may result in delays or restrictions on services. We recommend that clients regularly check and confirm their information to prevent any disruptions in their account operations.

5.2. Clients are encouraged to create a personal account upon their first use of our services and to periodically review and verify the accuracy of their account information. Kriptom.com recommends that clients perform this review at least once a year, or whenever there are substantial changes to their personal or financial circumstances.

5.3. Occasionally, Kriptom.com may request additional documentation or information, and the client is required to provide it as part of our continuous due diligence and monitoring processes.

5.4. Clients are encouraged to remain vigilant and report any suspicious transactions or activities they notice in their accounts.

5.5. Clients are required to comply with all terms and conditions set forth in Kriptom.com's Terms of Service and remain informed about any updates or changes to our policies, including this KYC Policy.

5.6. Clients must refrain from engaging in activities prohibited by Kriptom.com’s Terms of Service, including using the platform for fraudulent purposes, money laundering, terrorism financing, or any other illegal activities. Any violation of these terms will lead to the immediate termination of the client’s relationship with Kriptom.com and may result in legal consequences.

5.7. Clients are encouraged to follow ethical financial practices and avoid transactions that could be considered high-risk or linked to illegal activities. It is the responsibility of each client to ensure that their transactions adhere to both local and international laws and regulations.

5.8. In the event of an investigation or client verification process by Kriptom.com or relevant authorities, clients are required to fully cooperate by providing the requested information and adhering to the investigation procedures.

6. Data privacy and security

Kriptom.com is deeply committed to safeguarding the privacy and security of our clients' data. The trust placed in us by our clients is of utmost importance, and we recognize the responsibility of handling sensitive personal and financial information. To ensure the highest level of data protection, Kriptom.com utilizes advanced security measures, including encryption technologies, secure data storage solutions, and stringent access controls. We fully comply with applicable data protection laws and regulations, adhering to rigorous standards for data privacy and security to meet all legal and regulatory requirements. Please note that Kriptom.com retains information on suspicious transactions, including clients' personal data, for a period mandated by government authorities, which is no less than five (5) years. For a detailed understanding of our data privacy and security practices, clients are encouraged to review our Privacy Policy.

7. Miscellaneous provisions

7.1. Kriptom.com notifies its clients that our KYC measures are regularly reviewed and updated in response to changing regulatory standards and ongoing risk assessments. All policies and procedures undergo an annual review at a minimum. Clients are responsible for staying informed about any updates to our KYC policies. We recommend periodically reviewing our policy documents to ensure that you are familiar with the latest measures and requirements.

7.2. We encourage our clients to actively engage with us regarding our KYC policies. For any questions, clarifications, or feedback related to our KYC measures, clients can contact us at [email protected]

7.3. We encourage clients to report any suspicious activities they observe on our platform. If you notice any unusual transactions, behaviors, or have concerns about potential financial crimes or other illicit activities, please contact us promptly at [email protected] For a detailed understanding of our data privacy and security practices, kindly review our Privacy Policy.