KYC/AML Policy | Quan2um

KYC/AML

Quan2um Exchange AML  Policy 

Quan2um strictly complies with all applicable anti-money laundering laws and FATF, OECD recommendations, to ensure the protection of clients' assets. We have created a dedicated internal compliance department, which is responsible for developing and implementing the AML policy, which applies to all our employees and all our Customers who register on the website https://quan2um.com (Website). 

The role of the KYC/AML Compliance Department is to ensure that the conditions of the current national and international anti-money laundering and asset laundering legislation are met, both with respect to transactions on the platform and with respect to documents and information provided by our clients. By registering on the Website, the Client fully accepts the terms of this Policy, including the following provisions and requirements:

1) AML requirements apply equally to all our customers. However, we may ask clients who participate in trading in both digital and fiat currencies to provide additional information and documents depending on their verification level. The conditions and verification requirements applied to Customers when creating a personal account are given in Appendix 1 of this Policy.

It is prohibited to establish business relations and provide access to Quan2um mobile and web services with a Client who has not passed the account verification procedure and whose identity has not been identified in accordance with the norms and requirements of current national and international regulations. 

2) Any User who has successfully passed the KYC/AML verification procedure for a certain Verification Level gets access to the full set of Quan2um services, in accordance with this Level.

3) The Company undertakes to carry out all necessary KYC/AML procedures as soon as possible. However, in some cases it may take up to 10 business days.

4) The Client undertakes to provide the information and documents necessary for verification of the appropriate Level, as well as any other additional information and documents necessary to meet the requirements of KYC/ AML, if necessary, fill out additional KYC questionnaires at the request of the Company.

The verification requirements applied to Clients when registering a corporate account are given in Appendix 2 to this Policy.

5) Any bank or other account in a credit or financial institution to which the Client's assets are withdrawn must belong exclusively to the Client. Withdrawal to third-party accounts that do not belong to the Client is prohibited.

At the request of the Company, the Client is obliged to provide documents confirming the ownership of the account/accounts or the account/accounts used in business relations with the Company.

6) Internal transfers of Clients who have not passed the KYC/AML procedure are prohibited and are not accepted by the Company for execution.

7) The Company reserves the right to transfer the Client's information, including transaction records, to the relevant authorities when required by law and without obtaining the Client's prior consent.

8) In order to fulfill possible obligations to provide the Client's personal and financial information to the relevant authorities, the Company will store this information for as long as required by law, but not less than five years from the date of termination of business relations with the Client.

9) The Client is obliged to comply with all relevant national and international laws aimed at combating fraud, money laundering, terrorist financing and other illegal activities. In addition, the Client undertakes not to participate directly or indirectly in any illegal actions when using the services of the Website.

The Client guarantees the unconditional accuracy of the data provided to the Company for KYC/AML procedures. 

10) By transferring funds to an Account opened with the Company, the Client guarantees that he has received these funds from a legitimate source, and declares that he is the rightful owner of the funds and has the right to transfer.

At the request of the Company, the Client undertakes to provide documents confirming the legality of the origin of funds transferred to an account opened with the Company.

11) The Company reserves the right to unilaterally suspend the execution of business relations established with the Client by blocking the Client's account until additional (enhanced) KYC/AML procedures are carried out, including, but not limited to: suspend any transaction, incoming or outgoing; and carry out internal investigation and apply due diligence measures whenever there are grounds to suspect fraud or other illegal activities related to the Client's account. Such grounds include, among other things, deposits from accounts, wallets and sources that do not belong to the Client, or in respect of which there is information about the transfer of assets of illegal origin to them earlier, cancellation of transactions, requests for refunds, as well as withdrawals to an account other than the one used to make the deposit.

If an internal investigation is deemed necessary, the Company may suspend the execution of business relations with the Client and temporarily block operations on the Client's account until the investigation is completed and due diligence measures are applied in an enhanced manner.

12) When applying due diligence measures in an enhanced manner and conducting internal investigations, the Company will adhere to current national legislation, generally accepted international industry practice and FATF, OECD recommendations.

In the process of conducting an investigation or applying enhanced verification measures to the Client, the Company may request additional information from the Client required by the investigation, including (but not limited to): evidence of the origin of funds, ownership of accounts, information about the final beneficiary of the Client, confirmation of the place of residence or location, information about the Client's relationship, copies of card statements and bank account.

In case of any doubts about the authenticity of the scanned images and photographs provided, the Company may require that the original documents be sent by mail or otherwise delivered in paper form, or electronic images of notarized or legalized copies of the original documents be provided.

13) If the Client refuses to provide the documents and information requested by the Company, the Company may refuse to establish business relations with the Client or block the Client's current account if the business relationship was established earlier. This also applies to cases when a bank or other account with a credit or financial institution, or the payment method chosen for the withdrawal of assets, differs from the one that was originally used when establishing a business relationship or for making a deposit.

14) Citizens and residents of the following countries, as well as legal entities registered in these countries, cannot use the Company's Website and Services: Afghanistan, Bosnia and Herzegovina, Guyana, Iran, Iraq, North Korea, Laos, Ethiopia, Pakistan, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, Uganda, Vanuatu, Yemen, Albania, Bahrain, Botswana, Dominica, Fiji, Grenada, Jamaica, Jordan, Malaysia, Morocco, Namibia, New Caledonia, Oman, Qatar, Samoa, Swaziland, United Kingdom, United States of America (including all U.S. territories such as Puerto Rico, American Samoa, Guam, The Northern Mariana Islands and the U.S. Virgin Islands (Santa Cruz, St. John and St. Thomas).

15) The Company is not responsible for blocking, suspending or canceling the Client's account or for refusing to conduct any transactions on the grounds listed in this AML Policy, the User Agreement and other legal documents published on the Quan2um website.

16) The Company is not obliged to disclose the reasons for any decisions, favorable or unfavorable, regarding the opening, suspension or closure of accounts for the Client, execution of trading orders, requests for additional information and documents, or internal investigations.

17) This AML and KYC Policy is an integral part of Quan2um's Customer Service Terms. The Company reserves the right to cancel the Client's account in case of non-compliance with the terms of this Policy.

18) The Client has the right to create only one account when establishing business relations with the Company (one corporate and one personal account).

Appendix 1


Verification requirements and conditions applicable to Personal Account Clients

In accordance with the requirements of international norms and regulations, as well as the requirements of the Estonian Law on the Prevention of Money Laundering and Terrorist Financing, Quan2um is obliged to identify the identity of the Client before giving him the opportunity to use the services of the Website and establish business relations with the Client. In some cases, Quan2um may request information about the source of financing of its clients, as well as track all current transactions. In some cases, users may be asked to answer additional questions or undergo an in-depth due diligence.

All identification information provided by the Quan2um Client must be completely reliable. 


When establishing a business relationship with Quan2um, the Client is given the right to choose the Verification Level of his account. During the KYC/AML procedure, the Client provides the following information:

Does a person exercise or has he exercised state authority, is he a politically significant person (RER)

Is the Client a close relative, family member or employee of a person exercising or having previously exercised state authority

Is the person under sanctions 


Base Level:


To verify the account of the “Base” Level, the Client must provide the following information:

Full name of
the Country of residence
Date of birth
Address of residence or information about the place of residence
E-mail for information exchange with the Company
Phone number
Client's field of activity
Photo of the identity document on both sides (for multi-page documents, the first, second pages, the rest on request)
The photo of the account owner (on which the face is clearly visible) together with the identity document provided for verification.

User access with Base level verification:


The amount of funds for input/output (up to 1000 EUR per month)

Trading

P2P (receiving/sending up to 1000 EUR per month)

Profi Level:


To verify the account of the “Profi” Level, the Client must provide the following information:

Full name of
the Country of residence
Date of birth
Address of residence or information about the place of residence
E-mail for information exchange with the Company
Phone number
Client's field of activity
Photo of the identity document on both sides (for multi-page documents, the first, second pages, the rest on request)
Video of the account owner (on which the face is clearly visible)
Other documents at the additional request of the Company: certificates of the Client's bank or financial accounts, certificates of payment of bills at the place of residence, information about the financial condition of the Client and his sources, and others

User access with Profi level verification:


The amount of funds for input/output (up to 10,000 EUR per month)

Trading

P2P (receiving/sending up to 10,000 EUR per month)


The “Individual” level:


To verify an account of the “Individual” Level The Client must provide information on the request of Quan2um in an individual manner established by the Company.


User access with “Individual” level verification

The amount of funds for input/output (over 10,000 EUR per month)

Trading

P2P (receiving/sending over 10,000 EUR per month)

Appendix 2


Verification requirements applicable to corporate account clients

KYC verification procedure for corporate clients

All institutional and corporate clients undergo a mandatory detailed KYC procedure, which includes filling out a special KYC questionnaire for corporate clients, to receive this questionnaire, you must send a request to the email address: KYC@quan2um.com . The Client's representative filling out the questionnaire and uploading the documents required for KYC must have legal authority to do so.

Failure to comply with KYC requirements will result in refusal to register an account if a potential Client does not already have an account with the Company; as well as in the cancellation of an existing account if the Client is already registered with the Company.

The Company may block, suspend or terminate the Client's account if the Client is unable or refuses to provide all additional information and documents that are requested under the KYC procedure.

After filling out the questionnaire and downloading all the necessary documents, the Client is invited to wait for the response form of our KYC team, which will contain further instructions.


The list of documents that must be provided for the registration of a corporate account:

- certificate of registration;

- memorandum and articles of association;

- certificate of position (no older than 3 months);

- appointment of the corporate director/CEO (minutes of the shareholders' decision, minutes of the meeting, etc.);

- confirmation of the working address (bank statement, office lease agreement or utility bill, which indicates the name and address of the company, not older than 3 months);

- a document confirming the appointment of an authorized representative; 

- personal ID of the authorized representative;

- personal ID and proof of residence for each of the active directors;

- personal identity card and proof of residence for each of the shareholders and beneficiaries owning 25% or more of the shares in the company;

- personal identity card and proof of residence for each individual shareholder;

- a complete list of corporate shareholders with supporting documents for each of the 4 listed above;

- proof of ownership of the web domain.


Additional documents for enhanced verification on demand:


- a reference letter from the bank with the Client's financial details, which will be used for payments in fiat currency;

- corporate financial statements or bank reports for the last 3 months;

- additional documents confirming the origin of funds (tax returns, audit reports, etc.).