AML CTF Policy

Money laundering and terrorism financing (ML/TF) raises many challenges within the rapidly growing crypto industry. Therefore, COSMONYX takes a strict approach towards preventing such illicit activities.

The process of money laundering designates as disguising or hiding source of illegaly obtained funds in order to make them look legitimate e.g. channeling funds through the crypto industry. Companies that do offer crypto services, like us, are being targered by the criminals. In order to prevent these illicit activities, COSMONYX complies with local and international directives and regulations, that is designed to combat money laundering and terrorism financing.

COSMONYX AML/CTF Policy

The AML/CTF Policy (Anti Money Laundering & Counter Terrorism Financing Policy) consists of key elements:

Customer Due Diligence

Process that enables us to understand who our customers are, their intended nature of business relationship with us and the money laundering or terrorism financing risk they present.

Customer Identification & Verification Procedures

The controls we take in order to know with who we are conducting business with.

Beneficial Ownership

The controls we take in order to understand ultimate beneficial ownership(UBO) of a company or a third-party who is acting on behalf of someone.

Business Relationship

Establishment of purpose and nature of a business relationship that we are entering with the customer.

Sanction Screening

COSMONYX continuously screens entities and natural person's against OFAC and United Nation's sanction lists.

Risk Assessment

COSMONYX applies risk based approach in order to fight money laundering and terrorism financing. We periodicaly asses our risk profile, develop and implement processes and controls that is proportionate with identified risks.

Ongoing Monitoring

In order to fully understand our business relationships with clients, it's necessary to asses customer behaviour and mitigate risks that comes with it.

COSMONYX performs Ongoing Monitoring measures through the whole business relationship to ensure if the risk profile of the customer matches his behaviour taking into account the service provided.

Record Keeping

COSMONYX maintains and keeps relevant records, documents, data and information that is relevant in the process of investigation and prosecution of criminal property.

Suspicious Activity Reporting

COSMONYX is a regulated company and reports any suspicious activity or transaction's to the competent authority.