KYC Policy

Introduction

The KYC (Know Your Customer) policy at criptiwave.net ("CriptiWave") is implemented in accordance with our Terms and AML Policy. The KYC policy is essential for preventing identity theft, money laundering, financial fraud, and terrorist activities. CriptiWave maintains a zero-tolerance policy towards fraud and employs all possible measures to prevent it. Any detected fraudulent activities will result in immediate account termination and documentation of the incident.

CriptiWave is committed to safeguarding the integrity of sensitive data such as account information and transaction details through various security measures and fraud controls. To secure your electronic transactions, we require certain information, including your preferred deposit method.

The Company's compliance officer has the authority to request additional documentation from any client to complete the KYC/AML procedure, especially if there are suspicions of money laundering or other dishonest activities. The Company reserves the right to terminate cooperation with any client who fails to clear suspicions. Any unlawful activity will be reported to the appropriate authorities.

KYC Process

CriptiWave requires users to provide documentation for the KYC process, depending on the transaction amount, user’s risk category or any other factors as may be decided upon discretion of the company (the list is not exhaustive):

• Identity document
• Proof of address document (not older than 90 days)
• Source of funds declaration and supporting document
• Live video verification
• Selfie with a note confirming the client’s name, date, and wallet number
• Screening checking through third-party provider

Transaction Identification Requirements

CriptiWave reserves the right to request any documentation necessary for the AML/KYC procedure. The required documents may vary based on transaction amounts. Clients are obligated to provide all requested documents to ensure compliance.

Definition and Identification of High-Risk Clients

The Compliance Officer will maintain and update a list of client types considered 'high risk,' necessitating enhanced due diligence procedures beyond standard Client Identification Procedures.

Identification Process:

To ascertain satisfactory evidence of a High-Risk Client’s identity, CriptiWave will undertake the following measures:

• Verify the client’s name and address
• Confirm the client’s authority to make investments
• Obtain additional documentation as necessary under the circumstances

Red Flags for High-Risk Clients:

• Suspicious cryptocurrency transaction patterns, such as high transaction frequency in a short time or rapid deposits and withdrawals in new accounts
• Transactions involving high-risk countries or jurisdictions or transferring currency to exchanges outside the client’s home country
• Structuring multiple transactions to avoid reporting thresholds
• Use of privacy coins, unlicensed exchanges, or proxies to maintain anonymity
• Transactions involving accounts with insufficient customer due diligence or those avoiding requests for identifying information
• Exploitation of elderly or financially vulnerable clients as mules for money laundering activities

Examples of High-Risk Clients:

• Senior Foreign Political Figures, their Immediate Family, and Close Associates (Politically Exposed Persons or PEPs)
• Senior Domestic Political Figures, their Immediate Family, and Close Associates (PEPs)
• Clients from or associated with Non-Cooperative Jurisdictions
• Clients with funds originating from accounts in 'offshore banks' or Non-Cooperative Jurisdictions
• Clients suspected of using funds for illegitimate purposes or aiding terrorist activities

Prohibited Jurisdictions

• Abkhazia
• Afghanistan
• Akrotiri and Dhekelia
• Antarctica
• Artsakh
• Belarus
• Burkina Faso
• Central African Republic
• Congo (Democratic Republic of)
• Crimea
• Donetsk People Republic
• Haiti
• Hawaii
• Heard Islands and McDonalds Islands
• Iran
• Iraq
• Kosovo
• Libya
• Lugansk People Republic
• Mali
• Myanmar
• Nicaragua
• North Korea (Republic of)
• Pakistan
• Palestinian Territory
• Russia
• Somalia
• South Ossetia
• South Sudan
• Syria
• Transnistria
• Us Minor Outlying Islands
• Us Virgin Islands
• USA
• Western Sahara
• Yemen
• Zimbabwe

High-risk Jurisdictions:

• Aland Islands
• Albania
• Algeria
• Angola
• Anguilla
• Antigua and Barbuda
• Argentina
• Armenia
• Aruba
• Ashmore and Cartier Islands
• Azerbaijan
• Bahamas
• Bahrain
• Bangladesh
• Barbados
• Belize
• Benin
• Bermuda
• Bhutan
• Bolivia
• Bonaire
• Bosnia and Herzegovina
• Botswana
• Bouvet Islands
• Brazil
• British Indian Ocean Territory
• British Virgin Islands
• Brunei
• Bulgaria
• Burundi
• Cambodia
• Cameroon
• Canada
• Canary Islands
• Cape Verde
• Caribbean Netherlands
• Cayman Islands
• Ceuta
• Chad
• Chile
• China
• Christmas Island
• Clipperton Islands
• Cocos (Keeling) Island
• Colombia
• Comoros
• Congo
• Cook Islands
• Coral Sea Islands
• Costa Rica
• Croatia
• Cuba
• Curacao
• Djibouti
• Dominica
• Dominican Republic
• Eastern Island
• Ecuador
• Egypt
• El Salvador
• Equatorial Guinea
• Eritrea
• Eswatini
• Ethiopia
• Falkland Islands
• Faroe Islands
• Federated States of Micronesia
• Fiji
• French Guiana
• French Polynesia
• French Southern Territories
• Gabon
• Gambia
• Georgia
• Ghana
• Gibraltar
• Greenland
• Grenada
• Guadeloupe
• Guam
• Guatemala
• Guernsey
• Guinea
• Guinea Bissau
• Guyana
• Honduras
• Hong Kong
• Hungary
• Iceland
• India
• Indonesia
• Isle of Man
• Israel
• Ivory Coast (Côte d'Ivoire)
• Jamaica
• Japan
• Jersey
• Jordan
• Kazakhstan
• Kenya
• Kiribati
• Korea (Republic of)
• Kuwait
• Kyrgyzstan
• Laos
• Lebanon
• Lesotho
• Liberia
• Liechtenstein
• Madagascar
• Madeira
• Malawi
• Malaysia
• Maldives
• Malta
• Marshall Islands
• Martinique
• Mauritania
• Mauritius
• Mayotte
• Melilla
• Mexico
• Moldova
• Monaco
• Mongolia
• Montenegro
• Montserrat
• Morocco
• Mozambique
• Namibia
• Nauru
• Navassa Island
• Nepal
• New Caledonia
• New Zealand
• Niger
• Nigeria
• Niue
• Norfolk Island
• North Macedonia
• Northern Mariana Islands
• Oman
• Palau
• Panama
• Papua
• Papua New Guinea
• Paraguay
• Peru
• Philippines
• Pitcairn
• Puerto Rico
• Qatar
• Reunion
• Romania
• Rwanda
• South Georgia and South Sandwich Islands
• Saba
• Saint Barthelemy
• Saint Helena, Ascension and Tristan da Cunha
• Saint Kitts and Nevis
• Saint Lucie
• Saint Martin
• Saint Pierre and Miquelon
• Samoa
• San Marino
• Sao Tome and Principe
• Saudi Arabia
• Senegal
• Serbia
• Seychelles
• Sierra Leone
• Singapore
• Sint Eustatius
• Sint Maarten
• Solomon Islands
• South Africa
• Sri Lanka
• St. Vincent and The Grenadines
• Sudan
• Suriname
• Svalbard and Jan Mayen
• Taiwan
• Tajikistan
• Tanzania
• Thailand
• Timor-Leste
• Togo
• Tokelau Island
• Tonga
• Trinidad and Tobago
• Tunisia
• Turkey
• Turkmenistan
• Turks and Caicos Islands
• Tuvalu
• Uganda
• Ukraine
• United Arab Emirates
• Uruguay
• Uzbekistan
• Vanuatu
• Vatican City State
• Venezuela
• Vietnam
• Wake Island
• Wallis and Futuna
• West Papua
• Zambia

Enhanced Due Diligence Measures

For high-risk clients, the enhanced due diligence procedure involves stricter compliance requirements, including but not limited to:

• Assessing the client’s business reputation through financial or professional references and media reports
• Investigating the source of the client’s wealth and the economic activities that generated it
• Reviewing public information for any criminal or civil enforcement actions
• Conducting face-to-face meetings to discuss account opening documents
• Investigating recent changes in the client’s ownership or senior management
• Visiting the client’s business location for further verification

The compliance officer may request additional documentation from high-risk clients and may cease cooperation if suspicions of money laundering or dishonest activities are not refuted.

For any inquiries or to exercise your rights, please contact us at support@criptiwave.net