AML policy is also called the anti-money-laundering policy and the "Know Your Customer" policy (AML / KYC Policy).
1.1. This document is a Policy followed by Incore Finace OÜ, (hereinafter referred to as IncoreX, https://incorex.com), a company registered in Estonia at Harju maakond, Tallinn, Kesklinna linnaosa, Roosikrantsi tn 2-K389, 10119, in order to resist legalization (laundering) of proceeds from crime and financing of terrorism (AML). Any questions related to this policy should be addressed to: Finance OU at Harju maakond, Tallinn, Kesklinna linnaosa, Roosikrantsi tn 2-K389, 10119 or by e-mail to [email protected].
1.2 The main purpose of the AML Policy is to prevent and reduce the risk of the exchange being involved in any kind of illegal activity. is serious about any attempts to use its services for illegal purposes.
1.3 In accordance with all local and international standards, the IncoreX crypto-exchange implements more effective internal mechanisms and procedures that prevent:
• money laundering;
• financing of terrorist activities;
• trading of mass destruction weapons;
• bribery and corruption.
The AML / KYC policy also includes:
• mandatory verification procedure;
• presence among employees of the company official responsible for compliance with AML rules;
• tracking of all transactions;
• risk assessment.
1.4 IncoreX follows one of the main international standards for the prevention of illegal activities, namely CDD – Customer Due Diligence ("CDD"). IncoreX has implemented its customer verification procedures within the "Know Your Customer" procedure. Directly the customer identification procedure assumes that the employee of the IncoreX exchange collects all necessary identification information about the user - he may be required to provide the following documents:
1.4.1 Copy of passport / ID card;
1.4.2 Copy of receipt for utility bills;
1.4.3 Certificate of a stable financial position issued by a bank or an accountant.
1.5 To use payment bank cards at the IncoreX exchange, the client must undergo a special verification procedure in accordance with AML requirements.
1.6 According to existing standards, IncoreX has taken the following measures:
1.6.1 Has approved as a staff member to provide reports on suspicious activity related to money laundering. His direct responsibilities include ensuring not only effective implementation, but also compliance with all AML / KYC policy requirements. To perform his duties, he can:
• collect all necessary user identification information;
• carefully monitor transactions in order to detect the presence of deviations from normal activities in them;
• implement new user account management systems;
• regularly update risk assessments;
• independently create and update internal policies and procedures for the submission, review, completion and storage of all records and reports;
• provide law enforcement authorities with all necessary information about users if an employee has suspicions of a user's involvement in criminal activities.
1.6.2 Has established a risk-based approach to the assessment and management of financial risks in business related to money laundering;
1.6.3 Has implemented and applied a prudent approach to risk-based clients and identifies the person and verifies the users' addresses according to the principles of the "Know Your Customer" (KYC) system, which provides additional thorough checks of the "suspicious" counterparties that %s determines at its discretion.
1.6.4 Has implemented and used risk-based systems and methods to continuously monitor current client activity;
1.6.5 Follows a special procedure for the detection and reporting of suspicious activity.
1.7 IncoreX has the right to freeze the account of any user in the event that he / she is suspected / in suspicious activity that may be related to money laundering.
1.8 After the final confirmation of the user identity IncoreX has the right to refuse the potential legal liability for those situations when its services will be used for criminal activities.
1.9 According to the existing standards of practical activities to resist money-laundering, IncoreX reserves the right to require the client additional documents or any other additional information necessary for identification of the individual.