KYC (Known Your Customer) policy - User Identification and Verification
The purpose of the user identification and verification is to prevent ZaRRio Holding INC. from being used with the aim of criminal activity (auction fraud, identity theft, etc.)
Changex.com collects certain user identification information from each user opening or maintaining an account AND creating the first order via Changex.com website. User may be asked to provide verification documents by ZaRRio Holding INC. Verification is required when the amount of a single order or the total sum of all client's orders is higher than USD 1,500 USD / EUR 1,500. The user shall be aware that the name, address, telephone number and any other personal identification information including documents (such as passport, national ID, telephone bills, electricity bills or other utility bills) must be true and contain correct details, pertaining to the user.
User will be asked to provide a scanned copy of the valid photo ID (passport or state issued ID) and a scanned copy of a recent utility bill displaying the current address of residence. Verification process is a one-time procedure. Once user receives the verified status, the client will not be required to send verification documents again.
The Anti-Money Laundering Policy
The Anti-Money Laundering Policy follows the standards of the Anti-Money Laundering and Combating of Terrorism Financing (hereinafter called to as the “AML”) methods of Changex.com.
Money laundering can be defined as a procedure for converting money or other material values gained illegally (by terrorism, human trafficking, child pornography, drug dealing, illegal arm trade, corruption, etc.) into money or investments that appear to be legitimate. The purpose of money laundering is to hide traces of illegal source of funds.
Changex.com is to execute due diligence whenever it is required to identify the customer, and within the entire period of business relationship with the customer. All conditions are indicated in the Terms and Conditions of our service.
The due diligence shall involve the following:
Identification of the ultimate beneficial owner;
Accumulation of information on the purpose and intended nature of the business relationship;
Collection of information necessary for constant monitoring of business relationship including scrutiny of transactions undertaken throughout the course of that relationship to ensure that the transactions being performed are consistent with knowledge of the customer and his/her business and risk profile;
Examination of the source of the funds involved in transaction.
The act of provision of false information to Changex.com, fake ID or false contact details will be treated as a misuse of the service. Changex.com is bound to report such cases to the authorities of the country where the illegal operations were executed.
All information must be recorded: identification data, due diligence, identification documents provided for account verification, information and documents on transfers, which require identification, other identification documents which can be required in the course of business relationship with the client.