Anti-Money Laundering (AML) and Know Your Customer (KYC) Policies:
1. Introduction: Eritrean Cryptocurrency Exchange is committed to upholding ethical and legal standards.
Our
AML/KYC Policy is designed to prevent illicit activities and comply with Armenian law.
2.Customer Verification: Before using our services, customers must provide:Full name,Address,Date of
birth,Nationality,Occupation,Source of funds
3. Ongoing Monitoring: We monitor transactions for unusual or high-risk activity continuously
4. Reporting Suspicious Activity: We promptly report any suspicious activity to relevant authorities.
5. Record Keeping: We retain customer information and transaction records for at least five years.
6. Staff Training: All employees receive AML/KYC training.
7. Risk Assessment:We regularly assess and update our risk assessment.
8. Compliance Review: An annual independent review ensures policy compliance.
9. Sanctions Screening: We screen customers against sanctions lists.
10. Reporting to Authorities: We cooperate with Armenian regulatory authorities.
11. Non-Compliance Policy: violations result in appropriate action, including account termination and
reporting.
12. Policy Updates: Our policy is updated to align with changing regulations and industry best
practices.
13. Conclusion: Eritrean is committed to maintaining integrity and compliance to protect our exchange
and
the financial system.