Regulatory compliance for anti-money laundering (aml) and counter-terrorist financing (ctf)
CENTRALEX takes compliance extremely seriously and has, therefore set out the following provisions relating to AML and CTF guided by applicable rules and regulations.
Our AML Policy contains Anti-Money Laundering (“AML”) AML and Counter-Terrorist Financing (“CTF”) provisions, as mandated by the Money Service Operator Ordinance (“MSO”), the Anti Money Laundering and Counter-Terrorist Financing Ordinance (“AML CTFO”) and other relevant Hong Kong and International Law, and any other rules and regulations regarding AML. These standards are designed to prevent the use of CENTRALEX services to aid money laundering or terrorist financing activities. We take compliance very seriously. It is our policy to take all necessary steps to prohibit fraudulent transactions, report suspicious activities, and actively engage in the prevention of money laundering and related acts that facilitate money laundering, terrorist financing, or any other financial crimes.
In the event that you are suspected of being in breach of any AML compliance provisions, you agree that we have the right to suspend your transaction, User Account, and access to CENTRALEX until a thorough investigation in partnership with Law Enforcement Agencies has taken place.
Should your User Account or any other account registered to or associated with the same CENTRALEX Account be proven to be in breach of any such provision, you agree that we have the right to close your User Account.
In the event that you are the owner and/or designated representative of a CENTRALEX Account that is or has any associated account suspected of being in breach of any AML compliance provision, you agree that we have the right to suspend the associated CENTRALEX Account, all its associated accounts, and your access to CENTRALEX, until a proper investigation has taken place. Should this CENTRALEX Account or any associated account be proven to be in breach of any such provision, you agree to forfeit any and all funds in the Fiat Account and/or Crypto Asset Account associated with this CENTRALEX Account to the appropriate authorities.
AML Policy focus
Our AML Policy also focuses on the detection and prevention of fraudulent activity in the following ways:
- Identification and assessment of fraud-related risk areas;
- Procedures and controls to protect against identified risks;
- Allocation of responsibility for monitoring risks; and
- Procedures for the periodic evaluation of revision of the anti-fraud procedures, controls, and monitoring mechanisms.