Anti Money Laundering Policy

We strive to protect our Users from fraudulent and scam activities in the crypto assets arena. It is possible, that certain cryptocurrencies are used for scam or any other criminal activity, as defined by law. In order to prevent this, it is necessary to take measures to ensure customer verification and security of financial transactions. One of the best measures is AML procedure, which allows us to confirm, that you are a law-abiding individual before you being allowed to do any transaction with us..

Elotpayment.com service has a risk scoring system that is able to spot suspicious activity. If a transaction is flagged by the system, it is put on hold and the User is asked to pass AML verification. For the reasons of security, we are not able to disclose specific criteria of our system, however, it has proven to be very effective against money launderers, scammers etc.

Elotpayment.com service reserves the right to apply the AML procedure to certain Users, addresses and particular transactions of cryptocurrency and or other digital currency. Application of the AML procedure is based on Elotpayment.com service internal policies and aimed at preventing and mitigating possible risks of elotpayment service being involved in money laundering as well as any other illegal activities.

Please be informed, that Elotpayment service reserves the right to appoint Third-party service provider in order to fulfil AML procedure on behalf of Elotpayment service. While processing your information, such service provider completely complies our Privacy Policy in respect of your personal information.

Elotpayment service can provide the information collected during KYC procedure to the competent authorities upon legitimate request.

Elotpayment.com service will not enter a business arrangement with individual or entity suspected of or directly involved in money laundering, or in which the funds have been the source of illegal activity.

AML and KYC Procedure

AML/KYC procedure might be applied in respect to those crypto/digital assets payins, which are determined by our automated risk prevention system as suspicious. In these cases, Elotpayment service will contact the User by email registered email on file.

AML/KYC procedure includes confirming the identity of Users by means of:

  1. A high-quality photo of their ID (passport or driving license) valid in their country;

  2. Proof of the origin of funds;

  3. Any other applicable documentation.

Upon successful completion of the AML & KYC verification, the transaction that was put on hold will be processed.

In response to Elotpayment request for a user’s documentation, Elotpayment service takes all possible measures to recognize the deceptive documentation or other false information and reserves the right to investigate certain Users or transactions which have been detected to be risky or suspicious.

If there is any reasonable doubt that any information provided by User is wrong, untruthful, outdated or incomplete, Elotpayment service has the right to send User a notice to demand corrections or terminate all of the Services to the User.

Disclaimer

Elotpayment service keeps working on quick and transparent procedures updates that may be delivered to our Users via email and other means as well as on our website Elotpayment.com