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AML/KYC rules

Anti-money laundering (AML) refers to laws and regulations intended to stop criminals from disguising illegally obtained funds as legitimate income.

Sawgus Digital LLC has established a stringent AML/KYC (Know Your Customer) policy to safeguard against the risks of money laundering and other illicit activities. Here’s a summary of the key elements of Sawgus Digital LLC’s AML/KYC policy:

1. Collection of Necessary Documents and Verification: Sawgus Digital LLC collects essential transaction documents and verifies the client’s identification data in accordance with its KYC Policy. During the KYC verification process, clients are typically asked to provide the following data:

  • Personal Information: This includes your full name, date of birth, and contact details, such as your residential address and phone number.
  • Government-Issued Identification: A copy of a valid government-issued identification document, such as a passport, driver’s license, or national ID card.
  • Proof of Address: To verify your residential address, you may be required to provide a recent utility bill or bank statement in your name.
  • Additional Information: Depending on the platform’s specific requirements, you might need to provide additional information, such as the source of your funds and the purpose of your transactions.

Please note that the exact data requirements may vary, but KYC is a standard procedure in the financial industry to verify the identity and legitimacy of customers.

2. Suspicious Activity Monitoring: The company diligently monitors all client transactions and operations for any signs of suspicious activity.

3. Prohibited Assets: Sawgus Digital LLC does not accept cryptocurrency coins originating from sanctioned platforms, including Garantex, DoubleWay, MEGA darknet market, Wasabi Wallet, Darknetone, 1xBit, Primedice, Bitpapa.com, Netex24.net, capitalist.net commex.com, and DuckDice. Transactions involving these coins require KYC verification, and the amounts may be subject to indefinite verification. Funds transferred from these services may be permanently blocked.

In addition, Sawgus Digital LLC also does not accept cryptocurrency assets associated with dark markets and other illicit services. Transactions involving coins from these sources will also require KYC verification.

4. Transaction Freezing and Withholding: During the AML/KYC procedure, Sawgus Digital LLC retains the authority to freeze and withhold exchange transactions for as long as necessary to conduct a thorough investigation and KYC verification. If the client fails to complete or pass the AML/KYC procedure, Sawgus Digital LLC reserves the right to terminate the execution of their transactions. Failure to pass KYC within 3 months of order creation will result in permanent transaction freezing, with the withheld funds covering the costs of investigating fund origin.

5. Information Sharing with Authorities: It’s important to note that all information provided by the client may be shared with relevant authorities upon request by law enforcement agencies, as directed by court orders, or at the request of payment systеm administrations.

In summary, Sawgus Digital LLC’s AML/KYC policy serves to prevent money laundering and other illegal activities by implementing stringent measures, including transaction verification, monitoring, and information sharing with authorities. Sanctioned coins are strictly prohibited, and transactions involving these coins may be frozen indefinitely.

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