1. Introduction
- CryptoGT is a brand name operated by Hatio Ltd a company registered company in Marshall Islands, with registration number 90645 and registered address at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 (the “Company” and/or “CryptoGT”).
2. Scope
- 2.1 The Anti-Money Laundering & Know Your Customer Policy (the ‘Policy’) is provided by the Company to its Clients and Partners in order to help them to understand the rules and the procedures followed by the Company in order to comply with the Anti- Money Laundering and Terrorist Financing laws (“AML/CFT Laws”), as well as Know-Your-Client ("KYC”) requirements.
3. Anti-Money Laundering (AML) Policy
- 3.1. The prevention of money laundering and terrorist financing is a major responsibility and aim of the Company. The Company is fully committed in preventing any money laundering and terrorism financing activities through its services and as such, in the Company’s efforts to combat such, the Company ensures that:
- 3.1.1 Identifies its Clients and/or Partners and ensures that they are indeed the persons who claims to be by requesting a photo of an identification document which is issued by an independent, reliable and reputable official source that carries the Client’s or Partner’s photo, full legal name, date of birth, issue and expiry date, signature and identification number;
- 3.1.2 Identifies and verifies the Client’s and/or Partner’s permanent address though the provision of a recently issued document
- 3.1.3 Carries out sufficient monitoring of the transactions and the business relationship to enable the detection of unusual and/or suspicious transactions.
- 3.1.4 Gathering, evaluation and examination of information related to suspicious transactions and reporting of suspicious transactions to the relevant authorities though the appropriate channels.
- 3.1.5 Carries on an on-going monitoring of any reported suspicious activities and closely collaborate with the relevant authorities.
- 3.1.6 Retains copies of the documents and information which are necessary to comply with the due diligence requirements, supporting evidence and records of transactions which are necessary to identify transactions and supporting records of correspondence with the Clients and/or Partners and other persons with whom business relationship is maintained for a minimum of 7 years, following the end of the business relationship and/or termination of the Client’s Agreement and/or Terms and Conditions and/or Partner’s Agreement between the Company and the Client and/or Partner or after the date of the execution of an occasional transaction;
- 3.1.7 Ensures that all staff members are fully aware of their legal obligations, according to the AML/CFT Law and are sufficiently trained in the appropriate KYC and AML procedures, as well as in what constitutes suspicious activity and the internal reporting process of such activity to the Compliance Officer of the Company..
- 3.1.8 Uses all resources and information available to ensure that all suspicious activities have been investigated.
4. Know Your Customer (KYC) Procedures
- 4.1The Company reserves the right to confirm and verify the identity of each person, either legal or natural, who registers on the Company’s website and opens an account with the Company either as a Client or as a Partner. Hence, as part of the Company’s rights to comply with applicable Anti-money laundering & Know Your Customer legislation, the Company might request its Clients and Partners to provide certain Verification Documents (the “Verification Documents”), which shall typically include but not limited to:
A. Proof of Identity
- 1 Physical Persons:
- i. Proof of Identity which can be a copy of the national identification card and/or driver’s license and/or passport front and back which has been issued within the last 10 years;
- 2 Legal Persons:
- i. Recent (up to 3 months) Certificate of good standing or recent (up to 3 months) Bank Statement on the name of the Legal Person;
- ii. Recent (up to 6 months) Corporate Documents of the Legal Person. These include Certificate of Incorporation, Certificate of Directors, Certificate of Shareholders, Certificate of Registered Address.
- iii. Memorandum and Articles of Association of the Company;
- iv. Resolution of the Board of Directors of the Legal person for the opening of the account and granting authority to those who will operate it;
- v. Declaration of the Ultimate Beneficial Owner;
- vi. Proof of Identity for all the Directors of the Company, UBOs (who hold more than 10%) and the Manager of the Account.
- vii. Proof of Address for all the Directors of the Company, UBOs (who hold more than 10%) and the Manager of the Account
B. Proof of Address
- i. Utility Bill such as electricity bill, water bill, gas bill, landline phone bill, TV/Internet bill, local authority tax bill, property tax, municipality fees and home insurance documents which includes the Client’s and/or Partner’s full name, full residential address, full name of the issuing institution/authority and issue date which must be no longer than 6 months;
- ii. Bank Statement/ Bank Confirmation which indicates the Client’s and/or Partner’s full name, full residential address, logo or clear stamp of the bank and issue date which must be no longer than 6 months;
- iii. Certificate of residence issued by local municipality, police station etc. which includes the Client’s and/or Partner’s full name, full residential address, full name of the issuing authority and clear stamp of the issuing authority.
- iv. Affidavit which indicates the Client’s and/or Partner’s full name, full residential address, signature and stamp of the public notary or a public’s official and/or any other Government issued document which includes the above-mentioned information.
C. Proof of Payment Method
- 1 Physical Persons:
- 1 Credit/Debit card (Front & Back):
- i. Full name of cardholder;
- ii. Date of expiry of the card;
- iii. Showing ONLY the last 4 digits (these should match with the card number from which the account was funded). Please make sure that the first 12 digits of the card and CVV code are covered/not shown; and
- iv. Signature on the designated space provided on the card.
- 2 Wire Transfers:
Confirmation of deposit through wire transfer or Bank statement must include:
- i. full name;
- ii. date of transaction;
- iii. reference number used when making the deposit;
- iv. amount deposited;
- v. bank account name/number where the funds were deposited.
- 3 Other Deposit Methods:
The Company in its sole discretion may request by the Client to provide any other document serving as proof of payment method as it deems necessary according to the deposit method used.
- 1 During the registration process the Client and/or Partner will be requested to provide the following personal details and/or data:
- i. Gender;
- ii. Date of Birth;
- iii. Nationality;
- iv. Telephone number;
- v. Passport or ID number;
- vi. Tax ID (where applicable);
- vii. Home Address;
- viii. Investor’s Information
- 4.2All Clients and Partners must provide a copy of their identification documents which need to be valid, not expired, in color and all details must be fully visible. Moreover, Clients and Partners need to make sure that the images uploaded are not blurry and all 4 corners are visible. Documents that do not meet the above criteria will not be accepted by the Company. The Company reserves the right in its sole discretion at any time to request by any Client and any Partner to upload, in addition to any copy or scanned copy of any document already uploaded, a photo of the original document for the Company’s perusal. In case where a Client and/or a Partner denies to provide such or the photo provided is unsatisfactory in the Company’s discretion, then the Company may take any actions as it deems fit and as described in para. 4.5.
- 4.3Moreover, the Company has the obligation to assess the purpose and intended nature of the business relationship as well as construct and monitor the Client’s economic profile, in order to get sufficient understanding of the Client’s business activities and source of funds and/or wealth. In this respect the Company reserves the right to request by the Client to provide any documentation necessary for the above mentioned purposes. For example the Company may request proof of source of funds which can include amongst other the following:
- a) recent payslip (up to 3 months); or
- b) bank statement demonstrating the last 3 months of income; or
- c) Tax return or tax certificate; or
- d) Written confirmation signed by the employer confirming Client’s annual salary; or
- e) Passport or ID number;
- f) Bank statement showing the balance; or
- g) Property sale agreement; or
- h) Annual income statement
- 4.4It is important that the Company’s Clients and/or Partners confirm to the Company’s principles and standards. Among other things, the following principles are considered as a part of the Anti-Money Laundering/Know Your Customer procedure:
- 4.4.1 The Company will not accept as Clients and/or Partners persons engaged in unethical behavior or in illegal activities;
- 4.4.2 The Company will not accept as Clients and/or Partners parties that cannot make a well informed and reasonable judgment as to the activities in which they are engaged.
- 4.4.3 The Company will not accept new Clients and/or Partners and may terminate the business relationship with existing Clients and/or Partners if the persons are unwilling to provide sufficient documents/data and information as requested by the Company and/or persons who provide false and/or edited and/or forged and/or incomplete documents and/or information according to the Company’s sole discretion.
- 4.4.4 The Company will accept only those new Clients and/or Partners who complete the appropriate account opening procedure and provide the Company with all necessary verification documents and information to the satisfaction of the Company.
- 4.4.5 The Company will accept a prospective or potential Client and/ or Partner only when it becomes fully satisfied that the Client and/or Partner complies the AML and KYC procedures to ensure that a new relationship with the potential Client and/or Partner does or will not negatively affect the reputation of the Company.
- 4.5The Company reserves the right to proceed with the verification process as soon as the Client’s deposits reaches the amount of higher than 5,000 USD or equivalent. When the limit is reached, the Client will be restricted from transferring any funds to his trading account and/or e-wallet. In these cases, the client must submit the ‘Verification Documents’ within a period of fourteen (14) days from the date the above-mentioned threshold is met. For deposited amounts below 5,000 USD the Client may not submit any ‘Verification Documents’ but he/she will not have the right to make any withdrawal from his/her account until the verification process is completed. Notwithstanding the above, the Company reserves the right in its sole discretion and if deems necessary, to request by the Client to provide the Verification Documents at any stage during the course of the business relationship.
- 4.6For Partners of the Company to be eligible for participation in the Partners Program, they must complete the account verification form and submit all Verification Documents prior to on-boarding which must be approved by the Company as per the Company’s verification process and requirements.
- 4.7In all cases and in order for Clients and/or Partners to be eligible to proceed with any withdrawal request, their Verification Documents must be approved by the Company as per the Company’s verification process and requirements.
- 4.8If, during the business relationship, a Client or a Partner fails or refuses to submit, within a reasonable timeframe set by the Company, the required documents, data and information and or provide insufficient document and/or information and data as requested by the Company and/or any violation of the present Policy is identified and/or is suspected in the Company’s sole discretion, the Company is entitled to take any actions it deems appropriate including but not limited to the following:
- 4.8.1 terminate the business relationship
- 4.8.2 nullify any profits of the Client and/or commissions of any Partner
- 4.8.3 close all accounts they hold with the Company
- 4.8.4 reject any withdrawal request
- 4.8.5 set the account to read-only where the Client and/or Partner will only be able to log-in in his/her portal without being able to proceed with any other action in relation to his/her account
- 4.8.6 retain any costs from any of the Client’s trading accounts and/or Client’s and/or Partner’s e-wallets if these are deemed necessary
- 4.8.7 take any other measure as described in the Termination and Default section of the Client’s Agreement and/or Terms and Conditions and/or Partner’s Agreement.
- 4.9Moreover, during the business relationship additional documents and/or updated documents may be requested by the Company. If the Client and/or Partner refuses to provide such documents without any legitimate reason, the Company is entitled to any action as described above.
- 4.10The Company has no liability for any claims, losses, damages, costs or expenses, including legal fees, arising directly or indirectly out of the failure and/or delay of any order and/or transaction and/or trading activity where the Client’s or Partner’s Verification Documents are pending.
- 4.11The Client and Partner warrants and represents that at all times all the information provided to the Company shall be true, accurate, up to date and complete and that the Client and Partner shall inform the Company in writing via e-mail (send to the Company from the Client’s or Partner’s registered e-mail address) or through the Client’s portal or Partner’s portal upon any changes in regard to the information provided. The Client and Partner also expressly acknowledge and agree that the provision of untrue, inaccurate, misleading, edited or otherwise incomplete information shall constitute a breach of the Company’s Terms and Conditions and/or Client’s Agreement and/or Partner’s Agreement.
- 4.12Client and Partner hereby acknowledge and agree that the Company has the right to disclose information and/or documents (including recordings and documents of confidential nature, card details etc) in the following circumstances:
- 4.12.1 Where required by law or a competent court
- 4.12.2 Where requested by any regulatory authority
- 4.12.3 To relevant authorities to investigate or prevent fraud, money laundering or other illegal activity
- 4.12.4 To credit reference and fraud prevention agencies, third authentication service providers and other financial institutions for credit reference agencies, fraud prevention agencies, third authentication service providers and other financial institutions for credit checking, fraud prevention, anti-money laundering purposes, identification or due diligence checks of the Client. To do so they may check the details the Client supplied against any particulars on any database (public or otherwise) to which they have access. They may also use Client details in the future to assist other companies for verification purposes. A record of the search will be retained.
- 4.12.5 Where necessary in order for the Company to defend or exercise its legal rights;
- 4.13The Company reserves the right to refuse to process a transfer and/or perform any other transaction including deposits, withdrawals, transfer-in, transfer-out etc. at any stage if it believes/suspects that the transaction is to be connected in any way to criminal activity and/or money laundering and/or a violation of the Company’s T&Cs and/or Client’s Agreement and/or Partner’s Agreement and/or any other legal document displayed on the Company’s website.
- 4.14Any disclosure of information in good faith by the Company or by an employee or director of the Company shall not constitute a breach of any contractual or legal, regulatory obligation and/or administrative prohibition on the disclosure of information nor does it imply any liability whatsoever on the Company and/or its directors and/or its employees, even if the circumstances did not allow them to know precisely what the principal illegal activity was and irrespective of whether illegal activity was actually committed.
- 4.15All data, information and documents provided by Clients and Partners are subject to the Company’s legal obligations under the applicable Anti-Money Laundering Legislation and regulations, to be kept for a period of seven (7) years from the date of termination of the business relationship.
D. Personal Information and data used for the construction of the Client’s and/or Partner’s economic profile.
5. Transaction Monitoring
- 5.1. The electronic monitoring of transactions is an issue that is receiving a great deal of attention by the financial services industry. More and more transactions are being undertaken electronically, without any human intervention, providing those involved in money laundering with greater opportunities to launder money and to remain undetected.
- 5.2. Transaction monitoring allows the Company to monitor Client’s transactions daily in real-time. By combining this information with analysis of the historical information and account profile, the software and/or any other mean used for transaction monitoring can provide the Company with a “whole picture” analysis of a Client’s profile, risk levels and predicted future activity and can also create alerts according to which suspicious transaction reports can be produced and filed. The transactions monitored include inter alia deposits and withdrawals, wire transfers and account trading activity. The transaction monitoring might also include sanctions screening, blacklist screening and Client’s profiling features though different software devices.
- 5.3. Transactions executed for the Client are compared and evaluated against the anticipated movement of the account, the standard turnover, the declared annual income and net worth, business and Client’s data/information held and according to the economic profile of the Client. Transactions executed for Partners are compared and evaluated against the current business information and performance expectations as declared by them during the registration. Significant deviations are investigated, and the findings are recorded in the file of the Client or Partner. The Company may in its sole discretion proceed with applying enhanced due diligence measures and request by the Client or Partner to provide any additional document and/or information and/or data as it deems necessary.