Internal control rules for the prevention of money laundering and terrorist financing in the Multixchange service

Main provisions of the AML/CFT Policy of the Multixchange service

 

Internal control

Strict procedures have been developed to ensure compliance with regulatory requirements. These inсlude:

  • identification of clients and verification of provided data; special regime for working with politically exposed persons (PEP);
  • identifying unusual transactions and preparing suspicious activity reports (SARs);
  • storage of client documentation and transaction history.

 

Compliance Officer

The Authorized Officer is responsible for the implementation of the AML/CFT Policy. His/her duties inсlude:

  • development and updating of internal procedures; collection and analysis of information about clients;
  • investigation of suspicious transactions;
  • interaction with law enforcement agencies.

Staff training All employees undergo AML/CFT training, which is updated regularly. New employees receive instructions before starting work.

 

Verification procedures:

Clients undergo KYC verification before starting cooperation. For individuals, identity, documents and compliance with sanctions lists are checked. Legal entities undergo enhanced verification.

 

Monitoring and risk assessment:

  • A transaction monitoring systеm is used to detect unusual activity. The level of verification is determined by the client’s risk profile (low, medium, high).

 

Data storage:

  • Documents are stored for at least 5 years after the end of the relationship with the client.

 

How does the verification process work?

 

Client identification:

  • The client provides documents confirming identity (passport, driver’s license, etc. ) and residential address (utility bills, bank statements).

 

Selfie with a document:

  • A photo of the client with the document and a piece of paper containing the text: “I confirm my identity on the Multixchange platform” is required.

 

Verification of legal entities:

  • Business owners provide incorporation documents, information about beneficiaries and other information.

Peculiarities of working with clients

In case of suspicious transactions, employees have the right to request additional documents. If the client does not provide the necessary data or violates the rules, access to the service may be limited. The platform is not responsible for client errors, such as incorrect details or payment delays.

 

Data protection

All customer information is stored in accordance with the privacy policy. Data is used for internal purposes only and is not transferred to third parties, except in cases provided by law.


Client’s responsibility

The Client undertakes to:

  • provide reliable data; immediately report suspicious activity; comply with the laws of your country and platform; pay taxes yourself.

 

Changes in policy

The Platform reserves the right to amend the AML/CFT Policy without prior notice. The updated rules come into force immediately after publication.

 

Exceptional cases

The parties are released from liability for failure to fulfill obligations in the event of force majeure: natural disasters, military actions, sanctions, systеm failures and other unforeseen circumstances.

Now you know the basic principles of the platform and the requirements for users. Compliance with these rules guarantees the security and transparency of all operations.