Jungliwin AML & KYC Policy
The following goals are the focus of this AML & KYC Policy, often known as a method on the prevention of laundering proceeds of crime and financing of terrorism:
- To raise employee awareness of the battle against terrorism funding and laundering of cash from criminal activity.
- To uphold one’s legal duties in relation to regional laws.
- To assess clients, deals, and services supplied using a risk-based perspective and to reduce such risks.
Know Your Customer (KYC) Procedures
International and national laws require Jungliwin, a Casbit Group N.V. company, to set up efficient internal policies and controls. These procedures are intended to stop crimes like bribery and corruption as well as the financing of terrorism, drug and human trafficking, the spread of WMDs, and laundering of cash. Additionally, Jungliwin is obligated to react right away to any questionable behavior displayed by its members.
Verification Procedures
Customer due diligence, often known as KYC, is one of the norms utilized around the world to stop illegal conduct. In compliance with KYC and anti-money laundering regulations, Jungliwin creates its own verification processes.
In order to complete the Jungliwin identity verification process, the User must submit papers, details from trustworthy, independent sources (such as a national ID, international passport, high-quality photo or selfie, driver’s license, bank statement, or utility bill).
The validity of the documents and details supplied by the Users will be verified by Jungliwin. Jungliwin retains the right to look into certain Users who have been deemed to be unsafe or suspicious and will use all legal means to verify identifying material.
Jungliwin retains the right to regularly confirm a User’s identity, particularly when that User’s behavior looked suspicious or out of the ordinary. In addition, even if users have previously passed identity verification, Jungliwin has the right to ask for current documentation from them.
Know Your Customer (KYC)
Following registration, the User must provide proper identification to Jungliwin in accordance with certain KYC requirements. Following the completion of the User’s Account registration, the User must go through the KYC procedure, and:
- Regardless of the amount, prior to the initial withdrawal of monies.
- When making a deposit of at least 2000 euros, or its equivalent in virtual currency.
- When a user deposits 7 500 euros (or its equivalent in virtual currency) or more within a month (via several payments).
Please take notice that Jungliwin reserves the right to demand you to complete a thorough KYC procedure under the current procedure prior to making your initial deposit of less than 2000 euros or its equivalent, if necessary to process payments through certain payment providers, organizations, or banks.
Jungliwin also reserves the right to carry out valid identification of a User under KYC procedures in situations not covered at the paragraph above if there are good reasons to suspect that the User may be engaging in fraud, money-laundering, or other abuse, or if the User has made numerous large withdrawals in a short amount of time.
In this case, Jungliwin will contact the User via email or another method to ask for the required information and documents, such as a utility bill that is no older than six months and verifies the User’s current address, a bank reference that is no older than six months, a high-resolution scanned copy of the User’s current driver’s license, or a photo of the User’s license that is both clear and high-resolution.