AML Policy Kayocredits


  1. To acquire KayoCredits(KYO) tokens, you will need to register on our Website and perform a Whitelisting/Know Your Client (“KYC”) procedure. By Registering you agree to
    • provide accurate, current and complete information about yourself
    • where possible, maintain and promptly update your information from time to time as necessary
    • maintain the security of your password and accept all risks of unauthorized access to your account and the information you provide to us, and
    • immediately notify us if you discover or otherwise suspect any security breaches related to the Website, the KYO tokens, or the information provided to 5 us. You are only allowed to create one registration account and KayoCredits will block multiple accounts of the same User.
  2. KYC procedure is a customer identification process to ensure that each User is appropriately verified. It is not only a legal requirement to assess and monitor risks, to prevent doing business with a money launderer, terrorist or other criminal, even more importantly, KYC is a fundamental practice to protect a project and its supporters from fraud and losses due to illegal funds and transactions. You acknowledge and agree that to ensure the safety of the Users’ accounts, to counteract money laundering and to enforce is internal security policy, KayoCredits shall use internal controls and programs for such control to be maintained. KayoCredits, through these programs and controls, shall collect and store information about the Users and their transactions, including, but not limited to, personal information about you, such as your personal document ID number, scan of your ID document, your name, address, nationality and any other information required by us. Also, KayoCredits shall ask you to provide your Digital Assets wallet address, which you will be, unless expressly provided otherwise by KayoCredits, obliged to use when making a contribution during the crowdsale. Personal information, which we shall collect and store, may be provided to us upon registration of your Account or requested by us upon transactions effected, as well as indirect information, including IP-addresses, information about the operating system used, software configuration and other information collected with the use of “cookies” technology to create statistical reports. We will strive to perform KYC check within 48 hours, whereas sometimes the process may last longer.
  3. If your proposed purchase is flagged through our internal controls, KayoCredits may require additional identification information depending in case of any suspicious activity that may be indicative of illegal activity. Identification of bank accounts may also be required. You accept and agree that in cases where KayoCredits has valid reasons to believe that your Account is used for money laundering or for any other illegal activity, or that you have concealed or reported false identification information and other details, and also if there is a valid reason to believe that the transactions effected via your Account were affected in breach of this Agreement, KayoCredits shall be entitled to require you to provide any additional information and documents to clarify the circumstances. Transactions may be frozen until the documents are reviewed by us and accepted as satisfying the requirements of the legislation for counteracting laundering of incomes from criminal activities and financing of terrorism.
  4. KayoCredits can request from you any additional identifying information and support documents at any time at the request of any competent authority or in case of application of any applicable law or regulation, including laws related to anti-money laundering (legalization) of incomes obtained by criminal means, or for counteracting financing of terrorism. By agreeing to this Agreement, you acknowledge and agree that we maintain verification levels that require User participation and verification to obtain, with leveled permissions based on User supplied information, our ability to verify it, and our internal policies. You accept that you may not be able to achieve your desired level of verification, and we reserve the right in our sole discretion, to determine the appropriate verification 6 level for any User, as well as the right to downgrade Users without notice and to not verify the User at all. We may, from time to time, implement policies restricting verification levels by nationality, country of residence, or any other factor. This may affect your right to purchase KYO Tokens or withdraw KYOs from your Account, and you indemnify KayoCredits against any losses associated with an inability to purchase or withdraw KYOs based on your verification level. In highly unlikely cases, where you would be initially approved in the KYC procedure and we would later on realize that you are from Restricted Use Areas (newly added or existing), we will return Digital Assets paid by you to your address and we shall not issue/ you will not be able to withdraw KayoCredits tokens from your Account. You expressly agree and acknowledge that this might occur and you hereby indemnify KayoCredits against any losses associated with such event and your inability to purchase or withdraw KayoCredits.