Our AML policies, procedures and internal controls are designed to comply with money laundering regulations and prevent us from accepting payments that will expose us to possible criminal fines and penalties. Money laundering is the process whereby the proceeds of crime are transformed into ostensibly legitimate money or other assets, thereby making the illegal source of such assets or funds untraceable.
We view Money Laundering as a serious criminal offence, and as such, complies with regulatory requirements intended to forestall and prevent money laundering.
We have therefore devised the following measures to check such activities:
Verification of our customers.
Retaining transaction and verification documents for a minimum period of five years.
Setting a daily transaction limit for all transactions.
Constant regulation of deposits by the introduction of the Invoice System Monitoring and reporting any suspicious activities and transactions.
We reserve the right to refuse a transaction at any time should suspicion arises that may be connected to money laundering and/or terrorist financing or any other criminal activity. In addition, cinaexchange will report this suspicious activity to the proper law enforcement agency in order to comply with said regulations, and internationally accepted laws and customs which also prohibits us from disclosing this information to you.