ANTI – MONEY LAUNDERING AND KNOW YOUR CUSTOMER POLICY
This Anti-money Laundering and Know Your Customer Policy is an electronic agreement between you (hereinafter the “User”) and PayMIR that applies to your use of this Site, all services, products and content provided by PayMIR.
1. GENERAL PROVISIONS
1.1. By creating a User account on the Site or by using any of the Services, you acknowledge that you completely agree to this Agreement. 1.2. The purpose of the Anti-Money Laundering and Know Your Customer Policy (hereinafter - the “AML/KYC Policy”) is to identify, prevent and mitigate possible risks of Paymir.com being involved in illegal activity. 1.3. In conformity with international and local regulations PayMIR has implemented effective internal procedures to prevent money laundering, terrorist financing, drug and human trafficking, proliferation of weapons of mass destruction, corruption and bribery and to react correspondingly in case of any form of suspicious activity from its Users. 1.4. AML/KYC Policy includes Verification procedures, Compliance Officer, Monitoring Transactions, Risk Assessment.
2. VERIFICATION PROCEDURES
3. COMPLIANCE OFFICER
3.1. The Compliance Officer is the person, duly authorized by PayMIR, whose duty is to ensure the effective implementation and enforcement of the AML/KYC Policy. 3.2. It is the Compliance Officer’s responsibility to supervise all aspects of PayMIR anti-money laundering and counter-terrorist financing, in particular collecting Users’ identification information, establishing and updating internal policies and procedures for the completion, review, submission and retention of all reports and records required under the applicable laws and regulations, monitoring transactions and investigating any significant deviations from normal activity, implementing a records management system for appropriate storage and retrieval of documents, files, forms and logs, updating risk assessment regularly, providing law enforcement with information as required under the applicable laws and regulations. 3.3. The Compliance Officer is entitled to interact with law enforcement, which are involved in prevention of money laundering, terrorist financing and other illegal activity.
4. MONITORING TRANSACTIONS.
4.1. The Users are known not only by verifying their identity by analyzing their transactional patterns. Therefore, PayMIR relies on data analysis as a risk-assessment and suspicion detection tool. PayMIR performs a variety of compliance-related tasks, including capturing data, filtering, record-keeping, investigation management, and reporting. 4.2. System functionalities include: daily check of Users against recognized “black lists” (e.g. OFAC), aggregating transfers by multiple data points, placing Users on watch and service denial lists, opening cases for investigation where needed, sending internal communications and filling out statutory reports, if applicable; case and document management. 4.3. In connection with the AML/KYC Policy, PayMIR will monitor all transactions and it reserves the right to ensure that transactions of suspicious nature are reported to the proper law enforcement through the Compliance Officer; request the User to provide any additional information and documents in case of suspicious transactions; suspend or terminate User’s Account when PayMIR has suspicion that such User engaged in illegal activity. 4.4. If necessary PayMIR always uses the block chain monitoring tool. 4.5. PayMIR always provides specific verification and if necessary manual processing of transactions on the amount of equivalent or more than 1000,00 USD or its equivalent in any fiat currency or cryptocurrency.
5. RISK ASSESSMENT.
5.1. PayMIR, in line with the international requirements, has adopted a risk-based principle to combating money laundering and terrorist financing. This makes PayMIR to be able to ensure that measures to prevent an illegal activity are commensurate with the identified risks. The principle is that resources should be directed in accordance with priorities so that the greatest risks receive the highest attention.