AML Policy
Anti-Money Laundering Policy
Introduction and Objective
CoinsSend is committed to maintaining the integrity of its crypto-processing platform and preventing its use for any form of illicit financial activity. This Anti-Money Laundering Policy ("AML Policy") outlines the principles and measures we follow to deter and address money laundering, terrorist financing, and other illegal or unethical use of our Service.
Although CoinsSend operates as a privacy-focused, non-custodial crypto service without formal user identification (no mandatory KYC), we recognize our responsibility in helping combat financial crime. We have zero tolerance for money laundering, the financing of terrorism, or any other illicit activity on our platform.
1. No KYC Requirement – Philosophy and Limits
1.1 Policy on User Identification:
CoinsSend does not require standard "Know Your Customer" (KYC) identity verification from its users to access the Service. We do not ask you to submit passports, IDs, selfies, proof of address, or other personal documents in order to use our crypto-processing features. This policy reflects our mission to provide a fast, efficient, and privacy-preserving service accessible globally.
1.2 Acknowledgment of Risk and Regulatory Expectations:
We acknowledge that by not performing KYC on all users, there is an inherent risk that bad actors might attempt to exploit the Service. CoinsSend addresses this risk through alternative means such as transaction monitoring and risk profiling.
1.3 Reservation of Right to Request Information:
While our default stance is not to collect personal data, CoinsSend reserves the right to request additional information or documentation from users on a case-by-case basis if a transaction or activity is flagged as suspicious or high-risk.
2. Transaction Monitoring and Risk Management
CoinsSend employs a combination of automated systems and, where necessary, manual review to monitor cryptocurrency transactions for signs of illicit activity.
Our monitoring systems analyze transaction patterns, amounts, frequencies, and connections to known high-risk addresses or entities. We utilize blockchain analytics tools and maintain updated lists of sanctioned addresses and suspicious patterns.
3. Prohibited Activities and User Responsibilities
Users must not use CoinsSend to engage in, attempt to engage in, or facilitate any criminal or illicit activity, including but not limited to:
- Money laundering or attempting to disguise the proceeds of crime
- Terrorist financing or providing support to terrorist organizations
- Sanctions evasion or transactions with sanctioned entities
- Fraud, scams, or other deceptive practices
- Any other illegal activities under applicable laws
4. Enforcement: Actions We May Take
When our monitoring detects potential violations of this AML Policy or suspicious activity, CoinsSend may take appropriate actions including:
- Delaying or blocking suspicious transactions pending review
- Freezing accounts or funds associated with suspected illicit activity
- Requesting additional information or documentation from users
- Terminating user accounts that violate our policies
- Reporting suspicious activity to appropriate authorities
5. Cooperation with Law Enforcement
CoinsSend is committed to cooperating with law enforcement agencies, financial regulators, and other competent authorities in the global fight against money laundering and terrorism financing.
We will respond to valid legal requests for information and may proactively report suspicious activities when required by law or when we believe it is necessary to prevent harm.
6. Continuous Improvement and Training
CoinsSend understands that an effective AML program is not static. We are committed to continuously improving our policies, tools, and team awareness to stay ahead of potential abuse.
We regularly review and update our monitoring systems, train our team on emerging risks and typologies, and adapt our procedures based on regulatory developments and industry best practices.
7. Conclusion
CoinsSend's approach to AML can be summarized as "privacy for the innocent, scrutiny for the suspicious." We believe in providing a privacy-preserving service while maintaining robust controls to prevent misuse.
By using CoinsSend, you agree to comply with this AML Policy and understand that we may take necessary actions to meet our legal and ethical obligations in this area.
If you have any questions about this AML Policy, please contact us at compliance@coinssend.com.