The Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act 2006 designed to detect and prevent money laundering and terrorism financing. Cryptex24 takes the implementation of the AML/CTF Act seriously and has voluntarily taken comprehensive steps to implement an assertive AML/CTF Program which is benchmarked against the obligations set out with-in the AML/CTF Act and the AML/CTF Rule-set.
Key Components responsibilities in our AML/CTF Program
Сryptex24 Company pursues a clear and consistent policy against money laundering and any other illegal activities in the financial field. Following Сryptex24 policy, employers and customers (individuals and legal entities) of this exchange service have to abide by certain requirements and rules.
As a business that performs financial transactions between individuals and entities, Cryptex24 is responsible for and committed to compliance with all applicable laws and regulations regarding Anti-Money Laundering (“AML”). We will make reasonable efforts to detect and prevent people engaged in any criminal activity in any jurisdiction from using our account or transactional services (“the Services”).
Know Your Customer
Cryptex24 introduced a risk-based methodology based on the requirements of the AML/CTF Act and Rules to collect and verify certain information to confirm customer identities. Controls, processes, and procedures have been developed to capture this information based on Cryptex24's risk tolerance.
We are further required to obtain and record information and documentation that helps confirm your identity or provides additional information regarding your use of the Services. If we cannot confirm this information, we may require additional documents to verify your identity. We may ask for this information at any time before, during or after your use of the Services.
Suspicious Matter Reporting
Cryptex24 has implemented controls, processes and procedures to detect and report suspicious activities and transactions to relevant state or federal authorities.
Exclusions & Sanctions
Cryptex24 has implemented controls and processes to monitor customers and transactions against prescribed lists and/or Transaction Monitoring Process (TMP) Trigger Points, to ensure that we do not knowingly participate in any transaction that facilitates terrorism financing or violating any part of the the laws, which apply to traditional and financial sector participants.