Anti Money Laundering and Customer Identification Policy
- This document is an extract of the “Anti Money Laundering and Customer Identification Policy” (hereinafter as “AML” Policy) prepared and applied by Shinrai Kft. (Hereinafter as MrCoin).
- The complete Anti Money Laundering and Customer Identification Policy is available here.
- If you have any questions about this policy, please contact us.
- MrCoin, as a provider of exchange services between virtual payment instruments and regulatory money, is subject to DIRECTIVE (EU) 849/2015 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL and Act nr. LIII of 2017 on the prevention and deterrence of money laundering and financing of terrorism (hereinafter as Pmt.); it shall accordingly apply the provisions of the current legislation on the prevention and deterrence of money laundering and financing of terrorism.
- A Pmt. applies to any entity established in Hungary or in another Member State of the European Union or in a third country and, through its permanent business unit established in Hungary, including a branch office, directly offers customers specific services in Hungary in the form of a permanent domestic presence, thus it shall also be applied to MrCoin's activities .
- The Policy shall be applied to all natural and legal persons using MrCoin's services, and to all MrCoin's representatives, employees, workers as well as agents, proxies and cooperating partners serving for the performance of its obligations defined in the present policy and with whom MrCoin comes into contact in connection with its business activities
- The Policy covers activities aimed at preventing and deterring money laundering and financing of terrorism, risk classification, screening and monitoring of clients, performance of tasks related to the reporting and registration of suspicious financial transactions, suspension of transactions, and implementation of financial and property restrictive measures (objects covered).
- MrCoin's purpose with this AML Policy is not only to comply with the legal provisions and requirements currently in force, but also to express that it will take very serious measures against any form of unlawful use of the services it provides.
- In money laundering, perpetrators want to make the proceeds of crime look like income of legal origin. MrCoin will not tolerate any of its customers trying to misuse the services provided by MrCoin for any such purpose.
- In the event that any of MrCoin's customers is suspected of abusing MrCoin's services for the purpose of money laundering, MrCoin reserves the right to suspend pending transactions until the completion of the internal investigation. MrCoin also reserves the right to report suspicious activity to the police or the competent authority without the knowledge and information of the client.
In accordance with the relevant current best practice guidelines, MrCoin
- has appointed a person responsible for official reports of money laundering,
- developed a risk-based approach to assessing and managing business-related money laundering risks,
- has established and operates risk-based customer due diligence processes and obtains the documents required to prove identity and address in accordance with the “know your customer” (KYC) principle. For higher risk customers, who are appointed as such in the sole discretion of MrCoin, enhanced customer due diligence will take place.
- has established and operates risk-based systems and procedures in order to continuously monitor the activities of customers,
- has processes in place to identify and report suspicious activity.
- The transaction of any customer may be suspended in the event that MrCoin suspects the customer of deceptive, fraudulent or any activity related to money laundering.
As part of the AML Policy, we ensure that any customer who has agreed to use our service also agrees to provide us, upon request, with a high-resolution copy of each page of the documents required to prove their identity and / or address ( 300 DPI) in color, scanned or photocopied format, including but not limited to:
Documents proving identity:
- A valid passport issued in an EU country or a valid passport issued outside the EU
- Both sides of a valid identity card
- Both sides of a valid driver's license
Documents proving the address:
- Authority card proving the address (Address card)
- Utility bill for the address - gas bill, electricity bill, landline phone bill
- Bank statement containing the home address
- Documents proving identity:
- Customer identification process
- Copies of documents sent to us must be high-quality, high-resolution color copies. If the document has multiple pages, each page must be sent. Otherwise, we reserve the right not to accept copies of documents submitted.
- We also reserve the right to request additional documents at any time to verify the identity of the customer or to request any additional information necessary to comply with anti money laundering regulations.