Policy on compliance with AML requirements

99rates AML / KYC Policy

Legality. Transparency. Financial Security.

 

99rates implements a policy aimed at complying with international standards in anti-money laundering (AML) and customer identification (KYC/KYB).

We adhere to principles of integrity, legal responsibility, and full transaction transparency. All actions are focused on user protection and legal compliance.

 

🟨 Key Provisions

 

▪ Comprehensive approach to managing financial and legal risks

▪ Mandatory client identification and data verification

▪ Analysis of fund sources and transaction monitoring

▪ Prevention of service use for illegal purposes

▪ Compliance with sanctions, tax regulations, and international reporting

 

🟨 Client Identification and Verification

 

Each client must complete verification before using the platform, including individuals and legal entities. We may request:

 

▪ valid passport, ID card, or driver’s license

▪ selfie with the document and a sheet with the current date and signature

▪ information about ultimate beneficiaries (for companies)

▪ purpose of using the platform and description of expected activity

 

In some cases, enhanced verification may be required with video confirmation.

 

🟨 Enhanced Checks for Suspended Operations

 

If an operation is temporarily suspended due to internal review, the client must undergo advanced identification, including:

 

A photo of one document: passport, ID card, or driver’s license

 

A selfie with the document and a handwritten note with current date and signature

 

Answers to the following questions:

▪ Which platform did the funds come from? — provide withdrawal history screenshots and links to both transactions in a blockchain explorer

▪ What was the payment for or what was the legal basis?

▪ State the amount, date, and exact time of the transaction

▪ Who was the communication with? — include screenshots of correspondence proving the transfer

 

☑ The platform reserves the right to request additional documents or screenshots. Each case is reviewed individually and requires convincing proof of the client's good faith.

 

🟨 Transaction and Asset Source Control

 

All transactions on 99rates undergo multi-level monitoring:

 

▪ automatic and manual transaction activity control

▪ check of transaction alignment with declared purposes

▪ detection of unusual routes or transfer structures

 

Users must confirm the legal origin of funds. Acceptable sources include:

official income, investment profits, sale transactions, contractual payments, etc.

 

🟨 Crypto Asset Self-Check Recommendation

 

If there are doubts about the origin of crypto assets, we recommend assessing the risk in advance via open analytics tools such as:

🔗 https://crystalintelligence.com 

 

Ensure the reliability of assets before exchange.

 

🟨 High-Risk Services

 

The platform discourages use of assets from services that:

▪ have high levels of anonymity

▪ are unregulated under AML standards

▪ are involved in investigations or linked to illicit operations

 

⚠ High-Risk Platforms

To meet AML standards, we do not recommend using funds from anonymous, sanctioned, or untrustworthy services.

Transactions from such sources may be blocked.

 

📌 👇 Below is a list of such sources (updated regularly):

 

 

📌 Special Note:

Rapira and Capitalist are not supported. Transfers from these systems are automatically blocked or sent for re-check.

 

📌 Transactions from such platforms may be suspended or rejected.

 

🟨 Refund Terms

If the transaction is deemed unsuitable:

▪ the refund is issued exclusively to the original payment details
▪ standard refund time — up to 7 business days from the moment the decision is confirmed
▪ the decision is based on internal review and response from the partner platform, if applicable
▪ Following the AML check, funds are returned to the sender in full, without any additional deductions
▪ if the user refuses to provide the required verification data, the refund is processed within 7–10 business days or may be referred to competent authorities; assets are not held indefinitely
▪ each case is considered individually, and the service may request additional information or documents to safely complete the refund

 

🟨 Liability for Policy Violation

 

99rates reserves the right to:

 

▪ refuse operations without explanation

▪ temporarily or permanently restrict account access

▪ provide data to authorities upon valid request

▪ suspend activity pending internal review

▪ reject refunds if false data is provided or verification is refused

 

🟨 Prohibited Actions

 

Strictly forbidden on the platform:

 

▪ money laundering and criminal income legalization

▪ terrorist financing

▪ participation in illegal or gray schemes

▪ using the platform to hide income or evade taxes

 

Any violation is treated as a serious offense and may lead to account suspension and referral to authorities.

 

🟨 Why This Is Important

 

AML/KYC policy:

 

▪ ensures the safety of all service participants

▪ ensures legal compliance

▪ minimizes legal and operational risks

▪ strengthens client and partner trust

 

99rates is more than just an exchange. It’s a platform built on honesty, transparency, and user protection.