KYC & AML Policy

1. Our Commitment

CoinSpent is committed to preventing money laundering, terrorist financing, sanctions evasion and fraud. This policy describes the controls we apply to know our customers and monitor activity. It applies to every user and every transaction on the platform.

2. Customer Identification (KYC)

Before you can transact, we verify who you are. Depending on your country and the size of your activity, we may request:

3. Verification Levels

Limits and requirements may vary by country and may be changed to meet legal or risk requirements.

4. Sanctions and Restricted Persons

We screen customers and counterparties against applicable sanctions and watch lists. We do not provide services to sanctioned persons or to residents of jurisdictions where services are prohibited. We may decline or reverse transactions that involve restricted parties.

5. Risk-Based Approach and Due Diligence

• Each customer receives a risk rating based on geography, transaction patterns and verification results.
• Enhanced due diligence applies to higher-risk customers, including requests for source of funds or source of wealth.
• Politically exposed persons (PEPs) are subject to additional review and senior approval.

6. Transaction Monitoring

We monitor transactions for unusual activity, such as rapid movement of funds, structuring below limits, use of high-risk wallets, mismatched names between account holder and payout beneficiary, and activity inconsistent with a customer's profile. Payouts are made only to accounts in the verified customer's own name.

7. Suspicious Activity Reporting

Where we suspect illicit activity we may delay or refuse a transaction, freeze related funds, and file reports with the competent authorities as required by law. We are generally prohibited from informing the customer that a report has been made.

8. Record Keeping

Identification data, transaction records and correspondence are retained for at least five years after the end of the customer relationship, or longer where required by law, and are handled in accordance with our Privacy Policy.

9. Your Responsibilities

• Provide accurate, complete and current information, and update us when your details change.
• Respond promptly to requests for documents or information.
• Use only your own bank accounts and wallets.
• Do not use the platform to move funds of unlawful origin.

Failure to complete verification, or providing false information, may lead to restricted access or account closure.

10. Training and Governance

Our team receives regular AML and fraud-awareness training, and our controls are reviewed periodically and updated as laws, risks and typologies change.