AML and KYC Policy

The Central Bank of Cryptocurrency AML Policy is designed to prevent money laundering by meeting the UK AML legislation obligations including the need to have adequate systems and controls to mitigate the risk of being used to facilitate financial crime.

Central Bank of Cryptocurrency insists on a comprehensive and thorough KYC and AML compliance framework. This includes monitoring of suspicious transactions and obligatory reporting to local regulators and other compliance bodies. Central Bank of Cryptocurrency reserves the right to refuse registration to persons from jurisdictions that do not meet international AML standards.

Central Bank of Cryptocurrency reserves the right to carry out customer diligence verification of its users and their transactions. Enhanced customer review will be carried out periodically as part of our ongoing risk assessment. In addition to this, any attempt to abuse Central Bank of Cryptocurrency or its platform will result in immediate account suspension and reporting violations to respective authorities.

The Central Bank of Cryptocurrency AML and KYC policies are as follows:
• Transactions conducted via the Central Bank of Cryptocurrency platform will be subject to AML transaction monitoring.
• Identity and proof of address documents and transaction records will be maintained for at least six years and will be submitted to regulators as required without prior notification to registered users.
• Central Bank of Cryptocurrency may at any time without liability and without disclosing any reason, suspend the operation of your account. Central Bank of Cryptocurrency shall notify you after exercising its rights under this clause.

Registered members will be required to verify their identity in line with Central Bank of Cryptocurrency KYC policy. This includes submission of both government ID and proof of address. Valid ID includes a passport, national card, or driving license. Valid proof of address includes utility and rates bills not older than 3 months. Other forms of ID and address verification will not be accepted. Your account will be unverified until account validation has been completed.

Central Bank of Cryptocurrency is prohibited from transacting business with individuals, companies and countries that are on prescribed Sanctions lists. Central Bank of Cryptocurrency will therefore screen against United Nations, European Union, UK Treasury and US Office of Foreign Assets Control (OFAC) sanctions lists in all jurisdictions in which we operate.