Anti-Money Laundering Policy

Anti-Money Laundering Policy is an agreement between CforCoins and the users. It is expected of the users to abide by the rules and regulations given below. CforCoins expects honesty from its users. Users are expected to carefully go through, read, re-read and agree to the terms provided below only when completely understood how the site works.

Records

1. Maintenance

CforCoins will maintain a detailed record of all user transactions including the date and time of the transactions, the parties involved in the transactions, the nature and currency used in making the transactions and also the amount that was transacted. The website will maintain a record of all suspicious transactions including deposits and withdrawals. A separate record will be maintained of all checks, demand drafts, all electronic payments and pay orders including those of third parties. A record of money transferred to self or other users in or out of India is also maintained by the site. Any other money transfer made by any name, letters of credit, guarantees, bills and checks is regularly maintained.

2. Procedures

CforCoins will maintain a detailed record of all user transactions including the date and time of the transactions, the parties involved in the transactions, the nature and currency used in making the transactions and also the amount that was transacted. The website will maintain a record of all suspicious transactions including deposits and withdrawals. A separate record will be maintained of all checks, demand drafts, all electronic payments and pay orders including those of third parties. A record of money transferred to self or other users in or out of India is also maintained by the site. Any other money transfer made by any name, letters of credit, guarantees, bills and checks is regularly maintained.

3. Disclosure

It is expected of CforCoins to adhere to and cooperate with the government and the authorities that enforce law, the police, investigating agencies and the Courts of India. Therefore, as and when it is required and asked for, CforCoins will have to disclose information of its users saved on the website. In order to make sure no illegal activities are taking place in CforCoins and to protect the property, rights and safety of CforCoins and that of the third-party and public, CforCoins will have to disclose the personal information of its users when required.

4. Retention

CforCoins will maintain records from the point of cessation between CforCoins and the user up to ten years of ordinary transactions and twelve years of suspicious transactions along with the identity of the user in the form of hard and soft copy as directed by the laws or regulations.

Process of Verification

  1. As mentioned in this policy, while opening an account on CforCoins the users are expected to submit all required documents and details. CforCoins will make a check of the user's documents and identity of the user based on the given documentation whenever a user opens an account.
  2. Once the identity of the user is determined, CforCoins will proceed to verify the user.
  3. If the user is:
    • An individual person, then the user is required to submit one copy of any official document along with his or her current address and one copy of his or her latest photograph.
    • A company, then the user is expected to send one copy each of their registration certificate, authorization letter, partnership letter and other required documents.
    • A partnership firm, then the user is required to submit one copy each of their registration certificate, authorization letter, partnership letter and other required documents.
  4. CforCoins will keep a close eye on the users all the time and keep a check on their transactions, profile and the sources of their funds.
  5. If ever CforCoins comes across any user maintaining an account under a fictitious name, CforCoins will immediately terminate the user's account without any prior notice.

User Obligations

By accepting the terms and conditions of this website the user agrees to maintain honesty and dignity and not indulge in illegal activities involving money laundering and/or being involved in a kind of illegal act.

Approval of the Government

This agreement has been made keeping in mind the laws and regulations of handling cryptocurrencies and bitcoin according to the Government of India and if ever the Government of India finds anything illegal or invalid in the following agreement, the agreement will immediately dissolve without any prior notice to the users. By accepting the terms and conditions of this website the user agrees to the risks involved in such investment.

Notifications

The terms and conditions of this website may be changed and updated from time to time. The date of revision will be uploaded on the website along with the revised draft. It is expected of the user to go through the terms of this website more often to be well-informed. Use of the website after the changes being made will be considered as approval of the users to the terms and conditions.

Notices

CforCoins will communicate notices, notifications and other information with the users through electronic mail service and any other communication service. By agreeing to the terms and conditions of this website the users agree to receive such messages. CforCoins is not responsible for the security of the emails sent to the users as the internet is not a very safe place and the website is not responsible for the email once it is sent to the users. CforCoins will send all email to the users on the email address provided by them during the registration of their accounts. Any changes made to the information provided must be brought into notice of the website immediately.

If you would like to know more about our AML policy then please, email us at support@cforcoins.com