Introduction
Swappix makes every effort to prevent fraud and illegal activities, protecting its users and partners. Specific measures are taken to verify clients and ensure the security of financial transactions. The AML/KYC procedure is considered one of the best ways to confirm the legitimacy of clients, whether individuals or legal entities.
Swappix uses an automated risk assessment system to detect suspicious activity during operations. If the system marks a transaction as suspicious, it will be halted, and the user will be prompted to undergo AML/KYC verification. Our risk assessment criteria are confidential for security reasons, but they effectively combat money laundering and fraud.
Swappix reserves the right to use third-party service providers to conduct the AML/KYC procedure. These providers adhere to our Privacy Policy to protect users' personal data.
Information obtained as a result of the AML/KYC procedure may be disclosed to law enforcement agencies upon an official request.
Swappix will never enter into agreements with individuals suspected of money laundering or illegally obtaining funds.
AML and KYC Procedure
The AML/KYC procedure applies to operations that our risk system flags as suspicious. The user must contact our support team and provide the transaction ID.
This procedure includes verifying the user's identity and, sometimes, confirming the legitimacy of fund ownership by providing documents.
After receiving documents, Swappix conducts authenticity checks and reserves the right to investigate suspicious users or transactions.
Transactions will be executed only after the successful completion of the AML/KYC procedure.
Swappix reserves the right, upon receiving information from competent authorities, not to take action regarding client funds during the investigation of suspicious transactions.
Due to blockchain specifics, if a user does not complete the AML/KYC procedure for an extended period, fund refunds or exchange resumptions are possible only after KYC completion.
Disclaimer
Swappix aims to provide fast service and make processes as transparent as possible. Any changes or updates to the AML/KYC procedure will be communicated to users via email and on the official swappix.io website.