CTF AML

Understanding CTF/AML

The cryptocurrency sector is governed by various rules andregulatory frameworks, making it essential for most crypto services toimplement Anti-Money Laundering (AML) and Know Your Customer (KYC) processes.At YDPay, our commitment is to safeguard our clients from scams and fraudulentactivities within the crypto ecosystem, ensuring compliance with all applicablelaws and regulations. A crucial aspect of this commitment involves the KYC/AMLprocedures we have in place.

These procedures verify the legitimacy of transactionsconducted by our clients, affirming that you are a compliant individual withoutany legal issues that could attract regulatory scrutiny.

KYC/AML Process

YDPay employs an automated system for transaction monitoringand screening as part of our AML/KYC procedures. If a transaction is flagged assuspicious, the transaction will be paused, and the client will be asked toverify counter side and reasoning. The system utilizes a specific set of undisclosedcriteria to identify potential risks; publicizing these criteria could lead toattempts to manipulate the system.

This methodology has proven effective in distinguishinghonest users from potential money launderers and fraudsters, allowing us to quicklyrespond to potential threats.

Each KYC case is handled uniquely. If a transaction isflagged, the affected client will see a special notification on their exchangepage along with a "Verify" button, which leads to our KYC partner.

Through our collaboration with our third party provider,clients can complete the verification process by following the link providedbeneath the "Verify" button. The verification interface is designedto be user-friendly. Clients will have three days to complete the verification.Should a client choose not to undergo the KYC process, they may decline (inwhich case, please contact support@YDPay.io) and will receive a refund.

Once YDPay receives confirmation from our complianceprograms that the client has successfully completed the KYC process, thetransaction will proceed, and the exchanged funds will be sent to thedesignated wallet address.

We are dedicated to maintaining our reputation as atrustworthy, compliant exchange service suitable for all users, whether theyare casual participants in the cryptocurrency market or seasoned traders andminers. Therefore, YDPay reserves the discretion to implement the KYC/AMLprocedures for specific clients, wallet addresses, and certain assets.

YDPay does not condone money laundering or any other illegalactivities. Consequently, we do not engage in agreements with individuals orentities suspected of involvement in such actions. If any customer funds arebelieved to be associated with illegal activities, our KYC process will be adjustedaccordingly—our support team will provide further details in such cases.

Clients who prefer not to reveal their identity for anyreason and refuse to provide required documentation will have their KYC/AMLprocess marked as unsuccessful, leading to a refund of their deposited funds(minus network fees) to the original funding address within 24 hours.Additionally, YDPay reserves the right to blacklist these addresses, preventingfuture deposits.

If a client provides fraudulent documents during the KYCprocess, the same procedure follows: the process will be deemed failed, andfunds will be refunded (less network fees) within 24 hours, with thepossibility of blacklisting the involved addresses.