ANTI-MONEY LAUNDERING AND COUNTER-TERRORIST FINANCING NOTICE OF ELIBRIA
Last updated on “1st of June 2024”
ANTI-MONEY LAUNDERING AND COUNTER-TERRORIST FINANCING NOTICE OF ELIBRIA
- Introduction
In accordance with the provisions of Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing, Elibria (“Company”, “We”) does not fall under the category of the obligated entity and is not required to comply with Anti-Money Laundering and Counter-Terrorist Financing (“AML/CFT”) requirements.
However, Сompany fully understands and recognizes the importance of the AML/CFT requirements and the AML/CFT risks that our Services, Products or Tokens may pose, so We are committed to complying with the AML/CFT requirements set forth in this Anti-Money Laundering and Counter-Terrorist Financing Notice (“Notice”).
The Company’s Notice has several important objectives, reinforcing our commitment to ethical business practices, and the prevention of financial crime. The main objectives of our Notice include:
- Establishing robust systems and controls to prevent money laundering and terrorist financing;
- Conducting Customer verification to identify our Customers and understand their location to minimize the risks of using the Company’s Services, Products or Tokens for illegal purposes.
We would like to note that this Notice is valid in conjunction with other Company documents, including Terms of Use, Cookie Policy, and Privacy Policy. All definitions in this Notice are used within the meaning of the Terms of Use.
- Customer Verification
To use our Services, Products or Tokens, Customers must create a Customer Account by registering on our Website. It follows that, although not required by law, a company may collect the following information from Customers:
- A valid email address.
- Name.
- Country.
The Company strictly adheres to the principles of transparency in business and the requirements of the AML/CFT. Therefore, we do not establish business relationships with Customers who:
- Refuse to provide relevant information;
- Try to deceive the Company by providing false information;
- Use VPNs or other methods to mislead the Company.
Such actions not only make it difficult to provide an appropriate level of Service but also reduce the efficiency of internal processes, creating AML/CFT risks.
- Prohibited Jurisdiction
To determine the prohibited jurisdiction, the Company uses the following legal sources:
- UN/EU sanctions lists
- FATF list of High-Risk Jurisdictions of February 2024
- FATF reports for each listed country
- Corruption Perception Index for 2023
- Verification of Customer Information
In order to make sure that the Customer is not located in any of the prohibited jurisdictions and to be able to provide Services, Products or Tokens to the Customer in the usual way, the Company reserves the right to take the following measures to verify the Customer’s data:
- The Company may check the IP address of the device through which the Customer interacts with the Website.
- The Company may use a third-party provider to monitor cryptocurrency transactions, providing an additional level of security and transparency. Monitoring of cryptocurrency transactions when making purchases of the Company’s Services, Products or Tokens may show where the cryptocurrency was sent from.
- Consequences of Violation of this Notice
If it turns out that the Customer is located in one of the prohibited countries or the Company suspects its Customer of committing an AML/CFT crime, the Company may perform the following actions:
- Permanently delete the Customer’s account.
- Remove the Customer’s license rights to use the Company’s Services and Products.
- Suspend a cryptocurrency transaction until the Customer provides explanation data.
In addition, if during the exchange of Tokens it is established that the Client is located in one of the prohibited countries, the Company is obliged to suspend any token transactions. In this case, the Client is entitled to a refund. The refund is made upon a written request from the Client and exclusively to a bank account opened in the European Economic Area on the name of the Сustomer.
The value of each refund is handled by ELibria on a case-by-case basis. When estimating the amount of the refund, the Products and Services already delivered and other circumstances that may also affect the amount of the refund are taken into account.
- Changes to this Notice
We reserve the right to modify or amend this Notice at our discretion. Any changes can be viewed in the “Last Updated” field above, so please check the section regularly.
If We make any material changes, We will post the new Notice on the Website, with a new effective date. If the Customer does not accept a new edition of the Notice, he/she must stop using our Services, Products or Tokens.
If you have any questions about these Terms, please contact Us via: connect@elibria.io