KYC & AML Policy

Pledge

1. You pledge to abide by the KYC and AML policies, and shall not attempt to violate its terms and conditions. Within reasonable controllable scope, the Company shall take necessary actions and measures to protect you from money laundering, and provide safe services.
2. KYC and AML are comprehensive international policy systems that include an understanding of the policies under the jurisdiction you are in. Through strict compliance frame work, the Company will ensure compliance with the local and global regulatory requirements and standards.

Contents

1. The Company immediately updates and announces the revision of related laws and regulations.
2. The Company will announce and update the guidelines and rules for operating this website, and the employees of the Company will provide the services in accordance with the principles and rules.
3. The Company designs and operates strict internal monitoring and transaction control procedures, and will form a professional team responsible for anti-money laundering.
4. The Company will develop risk management plans, and conducts due diligence and ongoing supervision.
5. The Company will review the recorded transactions, and inspect on regular basis.
6. The Company will report suspicious transactions to the relevant institutions and authorities.
7. The documents for proof of identity and transaction records will be maintained for a minimum of 5 years. The Company will not provide any notice when evidential documents are submitted to the regulatory authority.
8. The use of credit cards during transactions is prohibited.
9. The citizens under the jurisdiction of high risk and non-cooperative countries as specified in the Financial Action Task Force (FATF) are not permitted to register as member of this website, or use its services.
10. The Company will participate in the trainings organized by the competent institutions and authorities, and provides training for its employees on a regular basis.
    
    

Confirmation and Verification of Identity Information

1. Identity Information
   
   
   1. Your information collected by the Company in accordance with the laws and regulations of the jurisdiction in which you are located may vary, and in principle, if you are registered, the following information will be collected.
      • Basic personal information: Your name, address (place of residence), date of birth, nationality, and other available information. Identity verification shall be based on documents issued by a public agency, such as a passport, identification card, or a resident registration issued by another jurisdiction.
      • Valid photos: You shall provide your photo taken with your ID card held to your chest.
      • Contacts: phone / cell phone number, and valid email address.
      • The Company may request you to provide additional information that meets the KYC and AML obligations in accordance with applicable laws and regulations.
        
        
   2. If you are a company or other type of corporation, the following information will be collected to determine the final beneficiary of your account or your trust account.
      • Confirmation of your corporate registration (corporate registration) and company’s business registration certificate, copy of company constitution and memorandum, and shareholder list and identification document of major shareholders. If the company’s address does not match the place of business, additional documents may be requested.
      • Other verification documents: The documents issued by the competent authority, and other documents deemed necessary considering the laws and regulations of the jurisdiction in which you are located, and the specific nature of your organization.
      • If you are a company or other type of corporation, the following information will be collected to determine the final receiver of your account or your trust account.
   3. Identification information is only accepted in Korean and English. If your identity information is not in one of the two languages, you shall need to formally notarize the identity information by translating it into English.
      
      
2. Verification and Approval
   
   
   1. You shall provide both the front and back of your identification (resident registration card, driver’s license, passport, etc.).
   2. You shall provide a photo with your ID card held to your chest.
   3. Copies of the supporting documents shall be verified against the original documents. However, if a reliable and appropriate certifier can prove that the copy is an exact copy of the original, it may be accepted. Such certification bodies include embassies, etc.
   4. Identity verification of the ultimate beneficiary and controller of the account shall be based on whether the account is privately owned by an actual individual capable of its own control and decision, as well as if an ongoing transaction is performed by another person. If you are a corporation, the identity of the shareholder (e.g. holding at least 10% of the shares in the business) shall be verified. In general, the shareholders holding 25% of the company’s shares are considered to have an average level of risk and the shareholders holding more than 10% of the shares are considered to have high risk, and their identification shall be verified.
      
      
3. Transaction Supervision
   1. The Company regularly sets and adjusts the maximum transaction amount safety reasons.
   2. If the transaction is concentrated to a single customer or unreasonable situations occur, the Company’s professional team will determine its suspiciousness on its own discretion.
   3. If a transaction is found to be suspicious, necessary restrictive actions may be taken, such as temporarily suspending or canceling such a transaction. If deemed necessary and possible, the transaction may be cancelled without notifying you.
   4. The Company reserves the rights to refuse membership applications if it does not comply with the international standards for anti-money laundering, or if it is a high risk customer. The Company also reserves the rights to suspend or terminate any transaction that is identified as suspicious based on its evaluation.

Anti-Money Laundering System

1. The Company manages the legal system, the financial system, and international cooperation in a comprehensive manner as a legal and institutional device to detect and prevent the laundering of monies created by various crimes or frauds.
2. Suspicious Transaction Report (STR)
   1. For the transactions of 20 million KRW or more, or 10,000 USD or more that are suspected to be related to money laundering connected to a specific crime or allegations of tax evasion using foreign exchange transactions and reported to the Financial Information Analysts (FIU) by financial institutions, the Company will actively cooperate.
3. Currency Transaction Report (CTR)
   1. It is a system that makes reporting obligatory when a bank has a cash transaction volume of 50 million KRW or more in a day, and complements the Suspicious Transaction Report, which the Company actively cooperates.
4. Customer Due Diligence (CDD)
   1. The financial institution confirms the identity of the customer who trades over 20 million KRW in a single transaction, whether it is an actual person, and transaction purpose so that its services are not used for illegal activities such as money laundering. When requested by a financial institution, the Company will provide the customer’s identity information.