1. Purpose and Basis
In light of the severe risks that money laundering poses to digital asset trading—such as fostering corruption, degrading social standards, harming user rights, disrupting platform stability, and increasing legal and operational risks—Megabit has established this guideline to comprehensively comply with anti-money laundering (AML) and anti-terrorism financing (ATF) laws, and to prevent money laundering and terrorism financing activities.
2. Scope
This guideline applies to all users registered on the Megabit platform (hereinafter referred to as “the platform”). Users must follow this guideline while adhering to the anti-money laundering and anti-terrorism financing laws of their respective countries or regions. If the laws in the user’s country or region are more stringent, those local regulations should be followed.
3. Anti-Money Laundering and Anti-Terrorism Financing
The purpose of this guideline is to prevent criminals from using the platform to conduct transactions that conceal or disguise the source and nature of the proceeds from illegal activities such as drug crimes, organized crime, terrorism, smuggling, corruption, financial fraud, and disruptions to financial management. To this end, the platform will take necessary measures in accordance with relevant laws and Megabit’s anti-money laundering regulations to prevent and respond to money laundering activities.
4. Basic Principles of Anti-Money Laundering
The platform conducts customer risk monitoring based on the following principles:
•Comprehensive Principle: Consider all potential money laundering risk factors and perform comprehensive risk monitoring for all customers.
•Prudence Principle: Enhance customer identity verification capabilities based on a thorough understanding of the customer and conduct risk monitoring with caution.
•Continuity Principle: Continuously monitor customer risk and adjust measures as needed based on actual circumstances.
•Confidentiality Principle: Strictly keep customer identity information, transaction information, and risk level information confidential, except as required by law or regulatory requirements, and not provide such information to any unit or individual.
•Tiered Management Principle: Regularly review basic information based on customer risk levels and conduct more stringent reviews for high-risk customers.
5. User Document Review
The platform will verify and record the information submitted by customers in accordance with Megabit’s anti-money laundering customer identification system. If the platform has doubts about the documents provided by a customer, it has the right to verify them with the relevant authorities or departments.
6. Low-Risk User Monitoring
The platform will monitor low-risk users according to specific requirements of Megabit’s anti-money laundering regulations. Additionally, the platform reserves the right to adjust the risk levels of low-risk users.
7. High-Risk User Monitoring
The platform will review high-risk category customers every six months, including updating their basic identity information and understanding their source of funds, use of funds, economic status, or business conditions.
8. Important Notes
Users should be aware of the following:
•Account Lending Prohibition: Accounts must not be lent to others.
•Identification Document Lending Prohibition: Identification documents must not be lent or rented.
•Disclosure of Important Information Prohibition: Accounts, passwords, and other important personal information must not be disclosed, rented, or lent.
•Cooperation with Identity Verification: Users should actively cooperate with the platform’s customer identity verification processes.
9. Reporting Suspicious Activities
If a user notices any account activity that may involve money laundering or terrorism financing during transactions, they should report it to the platform.
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