AML Policy

KYC (Know-Your-Customer) and AML (Anti Money Laundering) Policies

ETHoutlet remains committed in providing a safe, globally-compliant and reputable service to its clients. As a company, we pride ourselves on the integrity and transparency of our business. For this reason, ETHoutlet relies on comprehensive and thorough KYC (Know-Your-Customer) and AML (Anti Money Laundering) policies.

ETHoutlet is legally registered and its infrastructure is physically located in Hong Kong. ETHoutlet insists on a comprehensive and thorough KYC (Know-Your-Customer) and AML (Anti Money Laundering) compliance framework. This includes the monitoring of suspicious transactions and obligatory reporting to local regulators and other compliance bodies.

Our AML and KYC policies differ depending on the country of origin of which our clients are located and furthermore recorded against through the ETHoutlet registration process. The specific AML and KYC policies as per regional jurisdiction are located below. Our robust compliance framework ensures that regulatory requirements are being adhered to at both a local and global level, instilling a level of trust and ensuring ETHoutlet will continue to operate indefinitely.

ETHoutlet reserves the right to refuse registration to persons from or in jurisdictions that do not meet international AML standards or could be considered as a Politically Exposed Person.

ETHoutlet reserves the right to carry out customer due diligence to verify its users and their transactions. Enhanced customer due diligence will be carried out periodically as part of our ongoing risk review and assessment. In addition to this, any attempt to abuse ETHoutlet or its platform will result in an immediate account suspension and reported to the respective authorities.

The ETHoutlet AML and KYC policies are as follows:

– Transactions conducted via the ETHoutlet platform will be subject to AML transaction monitoring.

– Identity and proof of address documents and transaction records will be maintained for at least six years and will be submitted to regulators as required without prior notification to registered users.

– ETHoutlet may at any time without liability and without disclosing any reason, suspend the operation of your account. ETHoutlet shall notify you after exercising its rights under this clause.

– Registered members of whom transactions involve fiat currency will be required to verify their identity and adhere to the ETHoutlet KYC policy. This includes the submission of both government ID and proof of address.

– Valid ID includes a passport, national card, or drivers license. Valid proof of address includes utility and rates bills not older than 3 months. Other forms of ID and Address verification will not be accepted. Your account will be unregistered until account verification has been completed.

– Suspicious transactions will result in a Suspicious Activity Report being submitted to the Joint Financial Intelligence Unit (‘JFIU’).

– In addition to the above documents, ETHoutlet reserves the right to request the following documentations for transactions exceeding the amount of HKD30,000 (not exclusive):

  • Occupation and annual income range
  • Source of funds
  • Nature of account activity