AltSwap AML & KYC Policy

1. General Provisions

AltSwap adheres to international standards for combating money laundering, terrorist financing, and the proliferation of weapons of mass destruction (AML/CFT).

By using the AltSwap Service, the User confirms acceptance of this Policy and agrees to comply with all requirements aimed at ensuring the legality of transactions.

AltSwap reserves the right to conduct verification of Users and transactions to the extent necessary to comply with applicable laws, regulatory requirements, and internal security procedures.

2. Transaction Monitoring

All transactions processed through AltSwap are automatically screened using specialized blockchain analytics systems.

During the screening process, various risk factors are evaluated, including but not limited to:

• the origin of digital assets;

• transaction history;

• associations between wallet addresses and unlawful activities;

• inclusion of wallet addresses in international sanctions lists;

• any other indicators of elevated risk.

Based on the results of the analysis, each transaction is assigned an internal risk level.

3. High-Risk Transactions

If the results of the screening indicate an elevated level of risk or raise concerns regarding the origin of the funds, AltSwap reserves the right to:

• temporarily suspend the processing of the Order;

• request additional information or documentation;

• conduct an internal compliance review;

• refuse to process the transaction until the verification has been completed.

The User will be notified of the decision using the contact details provided when creating the Order.

4. Identity Verification (KYC)

To verify the User's identity, AltSwap may request one or more of the following documents, including but not limited to:

• a passport or other government-issued identification document;

• a selfie holding the identification document;

• proof of residential address;

• documents confirming ownership of a bank account or cryptocurrency wallet;

• any additional information reasonably required for identity verification.

The specific list of requested documents shall be determined individually based on the circumstances of each verification.

5. Source of Funds Verification

Where necessary, AltSwap may require documents or information confirming the lawful origin of digital assets or fiat funds.

Acceptable evidence may include, but is not limited to:

• cryptocurrency exchange account statements;

• cryptocurrency wallet transaction history;

• proof of income;

• contracts or agreements;

• documents confirming the sale of property or other assets;

• any other materials capable of establishing the lawful source of funds.
  

6. Verification Period
The duration of the verification process depends on the complexity of the individual case.

In most cases, submitted documents are reviewed within 1 to 5 business days.

If additional information is required or third parties become involved, the verification period may be extended but will generally not exceed 10 business days.

7. Refusal to Complete Verification

If the User fails to provide the requested information or refuses to complete the verification process, AltSwap reserves the right to discontinue processing the relevant Order.

In such cases, the digital assets may be returned to the original sender after completion of the internal review and the required security procedures.

8. High-Risk Transactions

If, as a result of the AML screening, digital assets receive a Risk Score of 70% or higher, such assets shall be classified by AltSwap as high-risk and will not be accepted for exchange until additional verification has been completed.

For such transactions, AltSwap reserves the right to:

• suspend the processing of the Order;

• request documents required for KYC verification and Source of Funds verification;

• refuse to execute the exchange transaction;

• initiate the return of digital assets to the sender's original wallet address upon completion of the verification process.

Refunds shall be made exclusively to the original wallet address from which the digital assets were received.

The following deductions may apply to any refund:

• applicable blockchain network fees;

• costs associated with AML screening;

• an AltSwap service fee of up to 5% of the transaction amount, but not exceeding the equivalent of 100 USDT, unless otherwise required by applicable law or the internal policies of the Service.

If, during the verification process, digital assets are found to be associated with fraud, terrorist financing, sanctions violations, money laundering, or any other unlawful activity, AltSwap reserves the right to refuse the transaction and to comply with all obligations imposed by applicable law, including cooperation with competent governmental authorities.

9. Right to Refuse Service

AltSwap reserves the right to refuse to process any transaction without providing a reason in cases where:

• there are indications of a violation of applicable law;

• false or misleading information has been provided;

• the lawful origin of funds cannot be verified;

• the transaction involves sanctioned wallet addresses;

• there is a risk of the Service becoming involved in unlawful activities;

• any other circumstances exist that may threaten the security or integrity of the platform.
  

10. Cooperation with Government Authorities
Where required by applicable law, AltSwap may disclose available information to competent governmental authorities, law enforcement agencies, financial regulators, or other authorized organizations.

Any disclosure shall be limited to the extent necessary to comply with applicable legal obligations.

11. User Obligations

The User represents and warrants that he or she:

• acts on his or her own behalf;

• uses only digital assets lawfully owned by the User;

• does not conduct transactions on behalf of third parties without proper legal authorization;

• does not use AltSwap for unlawful purposes;

• provides accurate and truthful information upon the Service's request.

The User bears full responsibility for the accuracy and completeness of all information provided.

12. Limitation of Liability

AltSwap shall not be liable for delays in processing Orders resulting from:

• AML/KYC verification procedures;

• actions of governmental authorities;

• operation or congestion of blockchain networks;

• technical failures of third-party services;

• circumstances beyond the reasonable control of AltSwap.

13. Amendments to this Policy
AltSwap reserves the right to revise this Policy at any time in order to comply with applicable legislation, recommendations of international organizations, and internal risk management procedures.

Any updated version of this Policy shall become effective upon its publication on the official AltSwap website unless another effective date is expressly specified.