In order to counteract the legalization of proceeds from crime and the financing of terrorism, exchange offices conduct AML checks of transactions received from customers.
If the transaction is identified as high-risk, the exchange office may suspend the exchange operation until verification is carried out in accordance with FATF standards.
Administration of the Coinshop24 Service, due to the danger of crimes related to money laundering and the financing of terrorist activities,
has developed a policy to identify such transactions and other illegal activities.
To determine such transactions, Coinshop24 uses the service web.amlbot.com .
If the AML risk of a transaction exceeds the value of 70%, the service reserves the right to:
1. Suspend the transaction for a period of 14 days or withhold the user's funds until the incident is fully investigated.
2. Request a photo or video from the user with a document confirming the user's identity.
3. Request a Screenshot or Video from the user's personal account of the cryptocurrency withdrawal wallet;
4. To return digital assets only to the banking details from which the transfer was made or to other banking details, after full verification by the Service security service and user verification.
5. Request other materials and documents related to the application from the user.
6. To refuse the Client to withdraw funds to the account of third parties without explaining the reasons.
7. The refund will be processed by the Service within 14 (fourteen) calendar days, starting from the date when the User was notified with the decision of the Service regarding his request for a refund.
When making a refund, after passing the verification (verification), the user is obliged to confirm the details for receiving a refund. The commission for the refund is deducted from the client's funds.
If the user does not provide the requested information and does not respond to the service's requests within 3 calendar months, the funds withheld will not be refunded.