AML/KYC Policy

Both international and local regulations require Alwaseet PS exchange service to implement effective internal procedures to prevent any illegal activity and take all necessary measures to do so.

1. Verification Procedures

1.1. Proof of identity

The verification procedure requires the User to provide the service administration with authentic documents (e.g., passport, ID card, utility bill, etc.). The service also reserves the right to additionally check certain Users who have aroused suspicion. To confirm identity, the User must provide one of the following documents, as well as a selfie with this document:

* You need to take a selfie holding one of the documents mentioned above and a sheet of paper with the following written on it: the current date, your order number, and "Alwaseet PS".

1.2. Address Verification

To verify the address, the User must provide one of the following documents (issued within the last 3 months):

1.3. Bank Card Verification

Users who want to make an exchange with a bank card must first verify it.

2. Risk Assessment & Transaction Monitoring

In accordance with international requirements, Alwaseet PS verifies transactions for risk using specialized AML services. A transaction may be rejected if its total risk score is too high.

The Service may refuse to provide services to the User if the risk in any of the following categories is significant: Illegal Service, Darknet, Ransom, Scam, Stolen Funds, Terrorism Financing, Sanctions, etc.

If a transaction is flagged with high-risk indicators, the User must pass a KYC check to verify their identity. After successful verification, any refund will be processed minus the network commission.

3. Exchange Conduct

The service warns users against attempts to use Alwaseet PS for money laundering, terrorist financing, fraud of any kind, or to purchase prohibited goods and services.

To prevent illegal activities, the Service sets the following requirements:

1. The sender and recipient of the payment must be the same person. Transfers on behalf of third parties are strictly prohibited.
2. All personal data provided by the User must be authentic and up-to-date.
3. If the service administration has reasonable suspicions that the user is attempting to conduct any illegal operation, the administration has the right to suspend the operation and request identification documents or other information related to the payment.
4. All information provided by the client may be transferred to regulatory and law enforcement authorities upon official request or court order.