The Company adheres to and complies with “Know your customer” principles, which aim to prevent financial crime and money laundering through client identification and due diligence.
The Company reserves the right, at any time, to ask for any KYC documentation it deems necessary to determine the identity and location of a user at cryptoleo.com. We reserve the right to restrict the service, payment, or withdrawal until identity is sufficiently determined, or for any other reason in our sole discretion based on the legal framework.
We take a risk-based approach and perform strict due diligence checks and ongoing monitoring of all clients, customers, and transactions. As per the money laundering regulations, we utilize three stages of due diligence checks, depending on the risk, transaction, and customer type.
SDD — simplified due diligence is used in instances of extremely low-risk transactions that do not meet the required thresholds
CDD — customer due diligence is the standard for due diligence checks, used in most cases for verification and identification
EDD — Enhanced Due Diligence is used for high-risk customers, large transactions or special cases.
Below you can find different types of documents and information that can be requested from you (Documents) depending on the screening type indicated above:
1.1. The minimum identification data set includes:
1.2. The actual identification documents are:
1.3. Additional identification documents are:
1.4. The documents provided might not be approved for the following reasons:
1.5. Once Documents are uploaded, the user will get a “Temporarily Approved” Status and the documents will now be on our side. The “KYC Team” will have 24 hours to go over them and email the user about the outcome: (1) Approved; (2) Rejected; (3) More information needed (with no further change in Status);
1.6. Users with “Temporarily Approved” Status can normally use the platform but their right to complete any withdrawals is limited.
1.7. Upon the results of the Documents analysis, the Company makes a final decision. When the KYC process is unsuccessful then the reason is documented and a support ticket is created in the system. The ticket number along with an explanation is communicated back to the user.
1.8. In the event, the user fails to pass a KYC check successfully, then he cannot make additional deposits or withdrawals of any amount.
1.9. If a user has passed the KYC process successfully then prior to any withdrawal, there is a detailed algorithmic and manual check on the activity and balance of the user to see if the amount withdrawn is a result of proper activity in the platform.
1.10. Under no circumstances may a user transfer funds directly to another user.