Introduction
To reduce the possibility of fraud and illegal actions, the Exwell.io platform utilizes all available means to ensure the security of its clients and partners. A significant element of our security strategy is the detailed verification of all clients and the protection of financial transactions. AML/KYC methods are considered a primary mechanism for confirming the legality of actions by both individuals and organizations.
The Exwell.io platform actively operates a risk assessment system capable of automatically detecting suspicious transactions. In the case of suspicions, the transaction may be suspended, and the client will be asked to undergo the AML/KYC procedure. For confidentiality reasons, the details of the risk assessment criteria are not disclosed, however, our system successfully contributes to the prevention of fraud and money laundering.
Please note that Exwell.io may use the services of third-party service providers to carry out AML/KYC procedures. All personal data is securely protected by our privacy policy.
Exwell.io reserves the right to transfer data obtained during the AML/KYC process to law enforcement agencies upon official requests.
We do not engage in cooperation with individuals suspected of fraud or money laundering, or those whose funds come from illegal sources.
AML and KYC Methodology
1.The Platform performs AML verification for incoming transactions.
2.AML procedures include the use of specialized tools to analyze cryptocurrency transactions to identify funds with higher risks to the platform.
3.If the analysis of an incoming transaction shows an exceeded risk tolerance, the funds are subject to additional verification.
4.If the additional verification confirms that the funds are linked to illegal activity or money laundering:
4.1.The application is temporarily suspended.
4.2 The user should contact the support service with the transaction number to undergo verification. During verification, documents for identification, photo or video, as well as explanations about the origin of funds may be requested.
4.3 After analyzing the provided documents, measures are taken to exclude errors or falsifications. If necessary, additional checks are performed on questionable transactions.
4.4 If the verification is successful, the funds are returned to the agreed address, less the network fee.
5. The user undertakes to provide the requested materials, to await the results of the verification and to refrain from claims against the platform.
6. If the analysis of cryptocurrency assets reveals a risk higher than 60% or one of the following tags is detected:DARK SERVICE, SCAM, STOLEN, MIXING (MIXER), SEXTORTION, RANSOMWARE, HACK, PHISHING, TERRORISM FINANCING, FRAUD, BLACKLIST, STILL UNDER INVESTIGATION, CYBERCRIME ORGANIZATION, NARCOTICS, CHILD ABUSE, HUMAN TRAFFICKING, SANCTIONS, then the transaction may be blocked until the KYC process is completed.
7.The Platform reserves the right to share the data collected under AML/KYC procedures with the relevant authorities upon official request.
8. If a user is inactive for a long period of time and does not undergo AML/KYC, restoration of access to funds or resumption of transactions is possible only after undergoing KYC.
Disclaimer
Exwell.io emphasizes speed of service and strives to ensure full transparency of processes. Any changes or updates to the AML/KYC policy are communicated to users via email or other available communication means and are also posted on the official Exwell.io website.