AML & KYC Policy
Know-Your-Customer and Anti-Money Laundering policy (“KYC & AML Policy” or “Policy”) sets out our commitments against money laundering, financing of terrorism, and related illegal activities. It describes the policies and procedures instituted by us to ensure that our Services are not being used by the users to facilitate commission of any criminal offences, including but not limited to those under the Prevention of Money Laundering Act, 2002 and the Unlawful Activities Prevention Act, 1967. Though we do not qualify as an entity obligated to follow the compliances prescribed under the above laws, this Policy has been prepared to ensure transparency of trading and to ensure the prevention of money laundering and other illegal activities. This Policy is a part of and must be read with the UniPeer Terms of Use https://unipeer.exchange/. Capitalized terms used in this policy shall have the same meaning as provided in the Terms, unless defined otherwise.
DEFINITIONS
(i) In case of companies, the natural person who has ownership of over 25% (twenty five per cent) of the shares, is entitled to over 25% (twenty five per cent) of the profits, or has the power, directly or indirectly, to appoint or elect more than half of the board of directors of such company, as the case maybe; (ii) In case of partnership firms/Limited Liability Partnerships, the natural person who has ownership of over 15% (fifteen per cent) of the capital or is entitled to over 15% (fifteen per cent) of the profits of such firm, as the case maybe;“Identification Document(s)” refers to: (i) Permanent Account Number (PAN) card; (ii) Aadhaar Number; (iii) such other document as may be notified by the Company from time to time;“Sanction Lists” refer to lists of natural and juridical persons included under any list circulated by the Reserve Bank of India and the United Nations Security Council, including without limitation, the ISIL and Al-Qaida Sanctions List and the 1988 Sanctions List.“Suspicious Transactions” refers to the following activities, whether attempted or executed: (i) Terrorist financing: transactions which to a person acting in good faith appear to be any funds collected to be used, in full or in part, by any terrorist or related organization, or in order to carry out any of the activities relating to terrorism, or terrorist acts; (ii) Unusually Complex: transactions which to a person acting in good faith appear to have been structured in a manner of unusual or unjustified complexity; (iii) Malafide Purpose: transactions which to a person acting in good faith appear to have not been transacted for bonafide purpose or have a sound economic rationale. (iv) Money Laundering: transactions which to a person acting in good faith appear to involve proceeds of any offence listed in the Schedule to the Prevention of Money Laundering Act, 2002.
POLICY CHANGES
We may change and update this Policy from time to time. Such changes may be made without prior notice, but any changes will only apply to activities and information on a going forward, not retroactive basis. You are encouraged to review this Policy whenever you access UniPeer.
YOUR OBLIGATIONS
3.1. You must ensure that any personal information and/or Identification Documents submitted by you belong to you.3.2. You must keep all information about you that your share with us in pursuance of this Policy up to date.3.3. In case you are acting on behalf of a juridical person, you must identify the Beneficial Owner and also assist in verification of the identity of such Beneficial Owner and any individual who purports to act on behalf of such juridical person.
PURPOSE OF THIS POLICY
In order to mitigate its risks relating to money laundering and other illegal activities, we intend to follow a holistic due diligence procedure. This procedure shall help us verify our users and obtain sufficient information about them. In order to achieve the same, this Policy has been put in place with the following elements: (i). Customer Acceptance Terms; (ii). Risk Management Procedure; (iii). Customer Verification Procedure; and (iv). Transaction Monitoring Terms.
CUSTOMER ACCEPTANCE TERMS
5.1. The Company will at the time of opening a UniPeer Account require that you undergo a verification process by submitting your Identification Documents and such other details, as mandated under of this Policy;5.2. The Company may at any time thereafter, while you continue to hold a UniPeer Account with us, for any reason whatsoever, ask you to: (i) Furnish such other details as may be deemed necessary by the Company to verify your identity. (ii) Require you to submit such additional information and/or data as may be directed by a competent enforcement authority. (iii) Require you to certify that your bank account through which you transfer funds to your UniPeer Account, is held by you only with a scheduled commercial bank compliant with all Know Your Customer (KYC) procedures mandated under the applicable laws.5.3. The Company may, in its sole discretion, refuse to open any new accounts, terminate existing user accounts after giving due notice, or refuse to process any transactions on UniPeer if it is unable to ensure compliance with any of the aforementioned conditions, either due to non-cooperation by the user or due to the details provided by the user being found enlisted on any Sanctions Lists or unreliable or unverifiable to the Company’s satisfaction.
RISK MANAGEMENT PROCEDURE
We will categorize our users, including you, into low, medium or high risk categories, after undertaking an appropriate risk assessment of each user based on the following factors (including without limitation): (i) Sufficiency and adequacy of identification information; (ii) Users social and/or financial status; (iii) Nature of user’s business/vocational activities; or (iv) Guidance notes circulated by various governmental and inter-governmental organizations.You acknowledge that to maintain the integrity of the Risk Management Procedure, we will keep your risk categorization and any data related thereto confidential. You will not be entitled to seek disclosure of your risk categorization. However, we may disclose your risk categorization data to the competent enforcement authority if we find that a particular user has executed or is likely to execute any Suspicious Transaction.
USER IDENTIFICATION PROCEDURE
7.1. We will, during activation of user Accounts or at any time thereafter while your continue to use the App, require you, to furnish the following details: (i) In case of individuals - front and back copy of the PAN Card, front and back copy of the AADHAAR live photo; any other documents pertaining to business/financial status of such individual as may be prescribed by us from time to time; (ii) In case of companies – one copy each of the Certificate of Incorporation; Memorandum and Articles of Association; Board resolution authorizing to transact on UniPeer; Identification Documents containing identification and address details of the individual authorised to transact on behalf of the company, along with a copy of the authorization document; (iii) In case of partnership firm/Limited Liability Partnership – one copy each of the Registration/Incorporation Certificate; partnership deed; Identification Documents containing identification and address details of the individual authorised to transact on behalf of the LLP/partnership firm, along with a copy of such authorization document.;7.2. For the purposes of identifying the user, we may rely on appropriate and licensed third party service providers to authenticate the Identification Documents and other incidental details provided by the user.7.3. Any transaction under the Services may be processed only after such is completed.
TRANSACTION MONITORING TERMS
All transactions executed and/or attempted to be executed on the App are regularly monitored by the Company, both manually and through use of software based algorithms
8.1. The Company may, from time to time, undertake necessary investigation in order to identify and examine transactions inconsistent with any user’s risk profile, sophistication, and expected usage pattern.
8.2. The Company reserves the right to terminate the UniPeer Account, restrict and/or prevent access the App, or report to the appropriate enforcement authorities the activities of any user in respect of transactions identified under this Clause 8 (Transaction Monitoring Terms).
MAINTENANCE OF RECORDS
The Company will maintain and preserve the following information and/or data: (i) Records of all transactions executed on the App, for a period of at least 5 (Five) years from the date of each transaction. (iii) Identification records of users (including but not limited to the Identification Documents submitted pursuant to Clause 7 (Customer Verification Procedure) above), during the subsistence of and for a period of at least 5 (Five) years from the date of termination of such UniPeer Account.
COMPLIANCE, DISCLOSURE, AND NOTICES
10.1. The Company may share, from time to time, information regarding transactions identified under Clause 8 (Transaction Monitoring Terms) of this Policy, identification information of such users, or any other information mandated under the applicable law, with the appropriate enforcement authorities.10.2. In order to improve the integrity and transparency of transactions on the App, you are encouraged to report any information you are privy to or become privy to in the future regarding any Suspicious Transactions or transactions you have find or have reason to believe are dubious in nature, to us by writing to us at support@unipeer.exchange. 10.3. In order to ensure compliance with this Policy and/or the applicable laws, the Company may be required to send you notices from time to time. All such notices will be sent to such address as provided by you under Clause 7 (Customer Verification Procedure) of this Policy. Where you are required to share any information according to the procedures contained in this Policy, such communication may be made by you electronically by sending an email to support@unipeer.exchange.You may also contact us at the following address: SmacoTeq PVT Ltd.
