AML/KYC Policy
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Our Anti-Money Laundering and Anti-Terrorism Strategies for Secure Transactions

In order to maintain the security and legality of transactions, we take strict measures when we detect activities that might be linked to money laundering, criminal activities, sanctions evasion, terrorism financing, or the creation of weapons of mass destruction. We use a service called GetBlock.net to help identify these suspicious transactions. When the risk level of a transaction being involved in these illegal activities reaches 70% or higher, we have the authority to take several actions. Here’s a detailed look at our process and the steps involved.

There are a number of actions that we can take in this regard

Payment Interruption

If we suspect a transaction is connected to illegal activities, we can immediately stop the payment to prevent it from proceeding further.

Identity Confirmation

To verify the user’s identity, we may ask for a photo or video of the user holding an identification document, such as a passport or driver’s license. Additional information related to the transaction might also be requested to ensure its legitimacy.

Wallet Verification

To ensure the user controls the cryptocurrency wallet used, we might request a screenshot or video showing their personal account in the wallet. This helps us confirm the funds’ legitimate source.

Account Blocking and Information Sharing

If there is strong suspicion of illegal activity, we can block the user’s account and associated details. Furthermore, we may share this information with law enforcement agencies, regulatory bodies, cryptocurrency exchanges, and payment systems to facilitate further investigation.

Funds Retention

We have the right to block and hold the user’s funds until we are satisfied that the origin of the funds is legitimate. The user must provide all requested documents and information related to the transaction to prove the funds’ legality.

Funds Return

After thoroughly verifying the transaction and the user’s documents, we will return the cryptocurrency or other funds to the original account from which they were sent. We only return funds after completing a full security check to ensure everything is in order.

Non-Compliance Consequences

If a user fails to provide the requested information or respond to our requests within six months, the funds will not be returned. Instead, these funds will be used to cover the costs of investigating the transaction. This policy ensures users comply with our requests and helps maintain a secure and legal platform for all transactions.

Here are a Few Reasons Why These Measures are Necessary

Implementing these measures is vital for preventing illegal activities such as money laundering and terrorism financing. These actions are not only unlawful but also threaten global security and the integrity of financial systems. By employing advanced tools and stringent procedures, we can identify and stop suspicious transactions before they cause harm.

This is a Detailed Description of the Process

Monitoring Transactions

We continuously monitor all transactions using the GetBlock.net service. This service employs sophisticated algorithms to detect unusual patterns and assess each transaction’s risk.

Assessing Risk

Every transaction receives a risk score. Transactions scoring 70% or higher trigger our security protocols, prompting immediate action for further investigation.

Informing the User

When a transaction is flagged, we notify the user and specify the information needed to verify the transaction. Clear instructions are provided to help the user understand the required steps.

Verification

The user submits the required documents and information. Our security team reviews these thoroughly to verify the transaction’s legitimacy. This review may involve checking identity documents, transaction details, and wallet information.

Making a Decision

Based on the provided information, we decide whether to release the funds or take further action. If the user’s information is verified, we proceed with the transaction. If doubts remain, we may continue to hold the funds and conduct additional investigations.

A User’s Responsibilities are as Follows

As a user, it is crucial to understand your responsibilities:

Provide Accurate Information

Always provide truthful and accurate information during transactions. This ensures your transactions are processed smoothly without delays.

Respond Quickly

If we request additional information or documents, respond as quickly as possible. Delayed responses can lead to extended holds on your funds or other actions.

Keep Documentation

Maintain all records and documentation related to your transactions. This includes receipts, transaction IDs, and any correspondence with us. Having these documents readily available can expedite the verification process.

Non-Compliance

If you don’t provide the necessary information or fail to respond to our requests within six months, the funds related to the suspicious transaction will not be returned. Instead, these funds will be used to cover the costs of investigating the transaction. This policy encourages compliance and ensures we can effectively investigate and prevent illegal activities.

Final thoughts

Our primary goal is to ensure a safe and legal platform for all users. By using advanced monitoring tools and stringent verification processes, we can detect and prevent transactions related to illegal activities. We appreciate your cooperation in providing the necessary information when requested, helping us keep the platform secure. Remember, these measures are in place to protect everyone and ensure that the financial systеm remains trustworthy and reliable. It should be noted that during the making of any exchange, the User, in accordance with the terms of the exchange rules which are in force on PKR2DOLLAR, agrees to all of the terms of the policies and undertakes to comply with them.