At Wiz Exchange, we prioritize maintaining a secure platform for all of our users. As part of our commitment to preventing financial crimes, we have implemented an Anti-Money Laundering (AML) and Know Your Customer (KYC) policy. This policy ensures compliance with legal and regulatory requirements aimed at curbing illegal financial activities.
Wiz Exchange is dedicated to safeguarding its services against being misused for money laundering, terrorism financing, fraud, or any illegal activity. This policy outlines the steps we take to adhere to global standards for financial integrity, promoting a secure and transparent exchange environment for our customers.
We strongly caution our users against engaging in activities that involve money laundering, terrorist financing, or any illegal transactions. Wiz Exchange, including its team members, service administrators, and domain owners, is not responsible for misuse of its platform by third parties. Users are fully accountable for their actions, and any illegal activity may result in immediate service suspension or legal consequences.
To maintain the integrity of Wiz Exchange, we have established the following user obligations:
Transactions must be made between the same sender and recipient. Transfers made on behalf of third parties are strictly forbidden.
Users must ensure that all provided personal and contact information is complete, accurate, and up-to-date at all times.
Users are prohibited from utilizing anonymous internet services such as proxy servers, VPNs, or Tor networks to access or use Wiz Exchange.
Wiz Exchange implements comprehensive verification procedures to meet international standards in customer due diligence. This process ensures that all users' transactions are legitimate and transparent.
To successfully complete the verification process, users may be required to submit the following documents:
We utilize advanced verification methods to confirm the authenticity of the documents and data provided by our users. In certain cases, additional investigation may be conducted if a user's identity raises concerns.
User accounts will undergo periodic identity checks, particularly if there are updates to their information or if suspicious activities are detected. Wiz Exchange may request updated documentation from users even if they have been previously verified.
Any personal and sensitive data provided during the verification process will be securely stored, processed, and shared in line with Wiz Exchange’s Privacy Policy and relevant data protection regulations.
If, after verification, a user’s account is linked to illegal activity, Wiz Exchange reserves the right to refuse service and take appropriate actions to protect the platform and its users.
Users wishing to use payment cards must complete the required verification steps as per the instructions provided on the Wiz Exchange website.
Wiz Exchange is legally obligated to verify the origin of funds used by users for trading activities. We may request additional documentation to ensure that all funds used comply with applicable regulations.
Wiz Exchange appoints a dedicated compliance officer responsible for ensuring adherence to our AML/KYC policy. This individual oversees the collection and verification of user identification data, updates internal procedures, monitors transactions for suspicious activity, and liaises with law enforcement agencies when necessary.
Our system provides several compliance features, including user data collection, transaction filtering, record management, investigation tracking, and mandatory reporting. The system also checks users against global blacklists, aggregates transactions, and flags accounts for additional scrutiny if required.
Wiz Exchange employs behavioral analysis tools to monitor user activity. This helps detect potential risks and suspicious behavior by assessing transaction patterns, providing an additional layer of fraud prevention.
We apply a risk-based approach to assessing and addressing potential threats related to money laundering and terrorist financing. Our procedures are designed to be proportional to the risks identified through ongoing assessments.
In the event of suspicious activity, Wiz Exchange reserves the right to suspend user transactions and request further documentation. All suspicious activities will be reported to relevant authorities, and the user may be required to provide additional evidence to continue using the platform.
User privacy is a priority at Wiz Exchange. All employees are bound by strict confidentiality agreements, ensuring that any sensitive information, including suspicious transactions, remains protected. However, disclosures to government agencies and law enforcement bodies are allowed when required by law.
All information shared regarding questionable transactions will be kept confidential, including information transferred to third parties.
This confidentiality obligation continues even after employees leave the company or are reassigned to other roles.
The confidentiality of user data is exempt when shared between financial institutions within the Wiz Exchange service group, provided it is for anti-money laundering and anti-terrorist financing purposes.
Wiz Exchange acknowledges that, while it strives to prevent any misuse of its platform, it does not bear legal responsibility for the actions of users who engage in illegal activities. By using our services, users agree to comply with the AML/KYC policies and all terms set forth by Wiz Exchange.