KYC/AML Policy
Last updated: 27th of September, 2023.
To adhere to the ACT of 1 March 2018 on counteracting money laundering and terrorist financing of the Republic of Poland, the requirements of EU AML Directives, and best AML/CFT practices, Chain Valley Sp. z o.o has meticulously developed and implemented an AML/CFT Procedures. This program encompasses Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures, which are strategically designed to mitigate the risk of involvement in any form of illegal financial activity.
The management of our company recognizes the paramount importance of complying with AML and CFT regulations. Consequently, we are committed to upholding the stringent requirements outlined in our Procedures with the utmost precision and diligence.
Anti-Fraud Measures and one-off transactions.
Our platform offers users the flexibility to conduct occasional transactions, with a cap set at the equivalent of EUR 1000.00, without the need to establish formal business relationships with Chain Valley Sp. z o.o. During these transactions, we collect relevant data and implement robust anti-fraud controls to ensure the security of these transactions.
However, if a user surpasses these predefined limits or if our management deems it necessary to acquire additional transaction-related information, the user will be kindly requested to undergo a Know Your Customer (KYC) verification process.
It's important to note that in certain instances, irrespective of the transaction amount (even for amounts below EUR 1000.00), users may be required to complete KYC verification. This might be prompted by requests from our financial partners or could be a decision taken internally by Chain Valley Sp. z o.o to enhance security and regulatory compliance.
Know-Your-Customer measures
Our stringent verification procedures have been meticulously crafted to thwart the use of stolen identities and deter any illicit activities that might be associated with money laundering or terrorist financing.
To successfully complete the identity verification process, users are required to furnish their personal information, and residential address, and upload supporting documents, which may typically include a driver's license, passport, national ID card or residence permit. Additionally, users need to provide recent proof of residence to corroborate their residential address.
It's important to note that our Know Your Customer (KYC) verification process adheres to a risk-based approach. This means that depending on individual circumstances, we may request additional information pertaining to the nature of the business relationship and the source of funds from the user.
Rest assured, the information submitted by users undergoes a meticulous verification process, encompassing both automated and manual checks. This comprehensive approach is designed to ensure the authenticity and accuracy of the provided documents.
Ongoing monitoring for AML/CFT purposes
Our Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) measures have been thoughtfully developed to protect our platform from any involvement in money laundering or terrorist financing activities.
Our dedicated compliance officers play a pivotal role in enforcing these measures. They employ a risk-based approach while constantly monitoring transactional activities taking place on the exchange. Furthermore, all transactions on the platform are subject to automated scrutiny to identify any suspicious patterns via our AML system. If a transaction or a user's overall activity triggers suspicion, it initiates an investigation led by a highly trained compliance officer. These officers have the authority to temporarily halt transactions during the investigation.
We want to emphasize that user data is handled strictly in accordance with our company's Privacy Policy and the Terms of Use.
It's important to note that our services are not offered to individuals or legal entities that are subject to sanctions, including, but not limited to, those mentioned on the sanction lists of organizations such as the United Nations (UN), the European Union (EU), and the Office of Foreign Assets Control (OFAC).
The management of our company recognizes the paramount importance of complying with AML and CFT regulations. Consequently, we are committed to upholding the stringent requirements outlined in our Procedures with the utmost precision and diligence.
Anti-Fraud Measures and one-off transactions.
Our platform offers users the flexibility to conduct occasional transactions, with a cap set at the equivalent of EUR 1000.00, without the need to establish formal business relationships with Chain Valley Sp. z o.o. During these transactions, we collect relevant data and implement robust anti-fraud controls to ensure the security of these transactions.
However, if a user surpasses these predefined limits or if our management deems it necessary to acquire additional transaction-related information, the user will be kindly requested to undergo a Know Your Customer (KYC) verification process.
It's important to note that in certain instances, irrespective of the transaction amount (even for amounts below EUR 1000.00), users may be required to complete KYC verification. This might be prompted by requests from our financial partners or could be a decision taken internally by Chain Valley Sp. z o.o to enhance security and regulatory compliance.
Know-Your-Customer measures
Our stringent verification procedures have been meticulously crafted to thwart the use of stolen identities and deter any illicit activities that might be associated with money laundering or terrorist financing.
To successfully complete the identity verification process, users are required to furnish their personal information, and residential address, and upload supporting documents, which may typically include a driver's license, passport, national ID card or residence permit. Additionally, users need to provide recent proof of residence to corroborate their residential address.
It's important to note that our Know Your Customer (KYC) verification process adheres to a risk-based approach. This means that depending on individual circumstances, we may request additional information pertaining to the nature of the business relationship and the source of funds from the user.
Rest assured, the information submitted by users undergoes a meticulous verification process, encompassing both automated and manual checks. This comprehensive approach is designed to ensure the authenticity and accuracy of the provided documents.
Ongoing monitoring for AML/CFT purposes
Our Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) measures have been thoughtfully developed to protect our platform from any involvement in money laundering or terrorist financing activities.
Our dedicated compliance officers play a pivotal role in enforcing these measures. They employ a risk-based approach while constantly monitoring transactional activities taking place on the exchange. Furthermore, all transactions on the platform are subject to automated scrutiny to identify any suspicious patterns via our AML system. If a transaction or a user's overall activity triggers suspicion, it initiates an investigation led by a highly trained compliance officer. These officers have the authority to temporarily halt transactions during the investigation.
We want to emphasize that user data is handled strictly in accordance with our company's Privacy Policy and the Terms of Use.
It's important to note that our services are not offered to individuals or legal entities that are subject to sanctions, including, but not limited to, those mentioned on the sanction lists of organizations such as the United Nations (UN), the European Union (EU), and the Office of Foreign Assets Control (OFAC).
