This Statement of Risks and Compliance should be read in conjunction with the Terms of Service (hereinafter as «Terms») CRYPTO EXPLORER DMCC 193946 («AWEX»).The purpose of disclosure is to create an understanding among customers of the existence of risks during use and/or trading on our platform.
We have developed and implemented the Program on Combating Money Laundering, Terrorist Financing and Trade and Economic Sanctions («POD/FT/Sanctions» or «Program») to ensure compliance of our platform with the legislation for trading digital assets. We conduct legitimate and transparent business activities and maintain a high reputation among our customers as well as regulators and the entire digital asset industry.
During operations, AWEX monitors the legal purity of assets:
We are a global platform or trading platform for digital assets, where traders act as buyers and sellers (commonly called market makers and marketers).To be clear, buyers and sellers trade with each other rather than with AWEX. We are not counterparties to the transactions.Our services are available through https://bankoff.pro and related software and/or mobile applications, as well as through a company registered in the UAE CRYPTO EXPLORER DMCC.
You should be aware that trading is risky.The risk of losses in trading or storing digital assets can be significant. So you should consider carefully whether trading is appropriate for you in light of your financial condition.
We understand that regulators have different approaches to digital asset laws and regulations, including some characterizing or defining digital assets as a convertible virtual currency (according to FinCEN USA) or virtual commodity (on Hong Kong).As a trading platform, we believe that the digital assets available on AWEX represent a new alternative asset class and therefore should not be considered as currency or money. Digital assets are not fiat money or fiat currency. Digital assets are NOT maintained (insured) by any government or central bank.
We may have a separate opinion on how to regulate the industry by public authorities, however, we will abide by the rules and laws of the countries in which we operate. We regularly communicate with public authorities on the best approach to regulating the business of digital assets.
We cooperate with governments, respect the rules and respect the laws. If law enforcement requests information from us as part of the investigation and suppression of illegal activities and crime, if it is not against the law, we will provide this information. This means that our platform is for law-abiding customers only. We welcome the opportunity to make money from your business, and in return demand that you act on our platform legally and follow all rules.
We have developed our System for Countering the Legalization (Laundering) of Proceeds of Crime, Financing of Terrorism and Financing of Weapons of Mass Destruction through a multi-level control system based on risk assessment. The first level includes a rigorous customer identification programme, including verification of the identity of clients, whether natural or legal persons.
In addition to the requirement to provide identity documents, we ask legal entities for a list of beneficial owners of natural persons in accordance with international standards recommended by the Financial Action Task Force (Chainalysis).
The second level includes a risk-based system that guarantees additional due diligence of clients. To do this, we check our customers (including beneficial owners) for compliance with legal/natural persons included in the «Hong Kong SAR Government Bulletin», sanctions lists of the US Office of Foreign Assets Control (OFAC) and the United Nations Security Council sanctions list, among others provided by the Government, of individuals and entities subject to sanctions. To protect our customers' reputation, we may consult any other lists at our discretion.
The third level includes continuous monitoring of suspicious activity. If our Program has reason to believe that suspicious actions have occurred, the system blocks the user. Suspicious transactions often do not coincide with normal and legal actions of the client. These are the main components of our compliance programme, but the most important link to these levels is our management team, including POD/FT staff, who provide training, oversight and maintain an appropriate compliance culture.
Digital trading is considered high-risk. Digital assets are NOT insured by any government or central bank. The risk of losses in trading or storing digital assets can be significant. You should consider carefully whether it is appropriate for you to interact, store or trade digital assets, given your financial condition.
If you have any questions or need help with our customer screening facilities, please contact our 24-hour customer service team, via live chat or by email. Please send your requests to: .
This «Risk and Compliance Disclosure» can be published in different languages. In case of any discrepancy, the Russian version shall prevail.