1. OBJECTIVE OF THE AML POLICY
CoinPiac is under the obligation to apply anti-money laundering (AML) measures in the process of delivering the services. CoinPiac staff is committed to pursue the highest standards of AML and Know Your Customer (KYC) compliance to mitigate the risk of our services being used to facilitate financial crimes.
We have implemented the AML Policy to ensure that all the necessary procedures are taken in order to achieve the full compliance of the services. In this AML Policy we are dedicated to follow the provisions specified in the Estonian AML laws, EU and international AML treaties.
2. WHAT IS AML POLICY?
AML Policy is the procedure to prevent CoinPiac services from being used for purposes of money laundering, terrorist financing or any other criminal activity. KYC measures are part of the AML Policy. The objective of KYC measures is to enable companies to know their customers and be able to mitigate the abovementioned risks. We may update such procedure in the future to assure the compliance with the laws and best AML practice.
In case of any potentially suspicious or unusual transactions we undertake appropriate measures to address those risks. All staff handling transactions may ask for additional documents such as proof of source of fund, employment etc., as deemed appropriate.
CoinPiac keeps a well-organized procedure of maintaining all records including customer’s identification documents and related data. All customer’s information and transactional history are stored confidentially and according to personal data protection laws.
In case of any suspicious activity, false documents or non-cooperation by the customer within the customer due diligence process, CoinPiac is obligated to reject the customer’s documents, close any existing accounts, and terminate the business relationship.