Anti-Money Laundering (AML) and Know Your Customer (KYC) Policy
The Anti-Money Laundering and Know Your Customer Policy (hereinafter referred to as the “AML/KYC Policy”) is established to protect Kamilexchange from being used in connection with any form of criminal or unlawful activity.
In line with applicable local and international regulations, Kamilexchange has implemented a robust internal compliance framework aimed at preventing money laundering, terrorist financing, human and drug trafficking, weapons proliferation, corruption, bribery, and other illicit activities. The company actively monitors user activity and responds appropriately to any signs of suspicious behavior.
Key Components of the AML/KYC Policy
The AML/KYC Policy includes the following core components:
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Customer Verification (CDD – Customer Due Diligence)
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Appointment of an AML Compliance Officer
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Ongoing Transaction Monitoring
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Risk-Based Approach to Assessment
Customer Identification and Verification Procedures
As part of Customer Due Diligence, Kamilexchange requires users to undergo a verification process using credible and independent documentation. This may inсlude:
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National identification card
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International passport
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Bank statement
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Utility bill
Kamilexchange reserves the right to collect, review, and store this information to ensure compliance with regulatory obligations. The company uses all lawful means to confirm the authenticity of submitted documents and may investigate any user deemed high-risk or suspicious.
Verification may be conducted not only at the point of registration but also on an ongoing basis, especially if user data changes or behavior appears unusual. Additional documentation may be requested at any time, even after previous verification.
Once the user’s identity is verified, Kamilexchange may disclaim liability for illegal actions committed using its services, provided all verification obligations were fulfilled appropriately.
AML Compliance Officer
A designated AML Compliance Officer is responsible for the enforcement and oversight of the AML/KYC Policy. This individual is tasked with:
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Collecting and verifying user identification
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Developing and updating internal AML policies and procedures
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Reviewing and storing compliance records
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Monitoring user transactions for unusual or high-risk activity
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Performing ongoing risk assessments
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Cooperating with regulatory and law enforcement authorities as required
The officer has full authority to liaise with enforcement agencies to prevent and investigate financial crimes.
Transaction Monitoring and Risk Analysis
In addition to identity verification, Kamilexchange utilizes behavior-based monitoring and data analytics to detect suspicious patterns. Compliance systems support:
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Daily screening of users against international sanction lists (e.g., OFAC)
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Monitoring of transaction volumes, patterns, and irregularities
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Case creation for detailed investigations
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Internal messaging and alerts
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Filing of suspicious activity reports (SARs), where necessary
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Document and case management
Actions in Case of Suspicious Activity
In the context of AML/KYC obligations, Kamilexchange reserves the right to:
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Submit reports of suspicious activity to competent authorities through its AML Compliance Officer
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Request further documentation or information from a user
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Temporarily suspend or permanently terminate a user account if there is a reasonable belief of involvement in unlawful activity
This list is not exhaustive; continuous monitoring enables the company to evaluate and report activities that may be suspicious or unlawful.
Risk-Based Approach
Kamilexchange applies a risk-based approach to identify, assess, and mitigate the risks associated with money laundering and terrorist financing. Mitigation measures are proportionate to the risk level identified in each case.
Cryptocurrency-Specific Measures
With respect to transactions involving cryptocurrency, Kamilexchange reserves the right to:
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Suspend a transaction and request identity verification
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Require documentation proving the source of funds used in an exchange
If a client refuses to comply with identity verification or fails to provide proof of the cryptocurrency’s origin, Kamilexchange may escalate the case and initiate an internal investigation, potentially involving relevant law enforcement or regulatory bodies for guidance on the withheld funds.
If all required documentation is submitted, Kamilexchange commits to completing the exchange or refunding the funds within seven (7) calendar days.
