GRAVIEX Anti-Money Laundering Policy (AML)

Money laundering is the activity of converting money or other monetary instruments gained from illegal activity into money or investments that appear to be legitimate, so that its illegal source cannot be traced.

GRAVIEX strictly follows the provisions of the anti money laundering and counter terrorism financing policy. The Exchange therefore takes all necessary measures to detect and counter money laundering and terrorism financing. The internal rules are observed in accordance with the relevant international requirements.

1 General provisions

GRAVIEX  Anti-Money Laundering Policy  is designed to prevent money laundering by meeting international legislation obligations including the need to have adequate systems and controls in place to mitigate the risk of the Service being used to facilitate financial crime. This AML Policy sets out the minimum standards which must be complied with and includes:

  • Clients' identification and verification
  • Transactions Monitoring

2 Compliance Officer

The Compliance Officer is the person, duly authorized by GRAVIEX, whose duty is to ensure the effective implementation and enforcement of the AML/KYC (Know Your Customer) Policy. It is the Compliance Officer’s responsibility to supervise all aspects of GRAVIEX’s anti-money laundering and counter-terrorist financing, including but not limited to:

  • Collecting Users’ identification information.
  • Establishing and updating internal policies and procedures for the completion, review, submission and retention of all reports and records required under the applicable laws and regulations.
  • Monitoring transactions and investigating any significant deviations from normal activity.
  • Implementing a records management system for appropriate storage and retrieval of documents, files, forms and logs.
  • Updating risk assessment regularly.
  • Providing law enforcement with information as required under the applicable laws and regulations.

3 Clients' identification and verification  procedures

GRAVIEX has enabled its own procedures for determining compliance with the anti-money laundering standards and KYC policy. GRAVIEX Customers complete a verification procedure (they must provide a scanned copy of legal government-issued, identifying document with the picture of the customer on it. It may be a government-issued passport, driver's license (for countries where the driver's license is a primary identification document) or local ID card (no company access cards) if their withdrawal amounts exceeds the  limits established and specified for every cryptocurrency in the Funds section of  the Service. All legal methods for double verification of identification information will be used, and GRAVIEX verifies the authenticity of documents and information provided by Customers and reserves the right to request additional information on Customers who have been identified as dangerous or suspicious.

GRAVIEX reserves the right to collect Customers' identification information for AML Policy purposes. This information is processed and stored strictly in accordance with the GRAVIEX Privacy Policy. GRAVIEX is entitled to request documents from the Customer, even if they have been authenticated in the past.

4 Transactions Monitoring

The monitoring of the Customer's transactions and the analysis of the obtained data is also a tool for risk assessment and the detection of suspicious transactions. If money laundering is suspected GRAVIEX shall monitor all transactions and reserves the right to:

  • reporting of suspicious transactions to the relevant law enforcement agencies;
  • request the Customer to provide any additional information and documents;
  • suspend or terminate the Customer's Account.

The above list is not exhaustive and the Compliance Officer will monitor Customers’ transactions on a day-to-day basis in order to define whether such transactions are to be reported and treated as suspicious or are to be treated as bona fide.