AML and KYC

KYC & Gaambit AML Policy

This Policy is an integral part of the Gaambit Terms of Service.

Carefully study the document, it contains the regulation of your rights and obligations.

The rules for the provision of services by the Gaambit service, the Privacy Policy, the AML/KYC policy, any related documents and annexes to them determine the procedure for using the services provided by Gaambit (including the website and all web applications). If you do not accept these Terms, you may not use the Services.

By creating an account, using any web applications, URLs controlled by Gaambit, you fully agree to the Terms and Policies, thoroughly understand the content of these documents and fully accept them.

1. The Gaambit Service operates on the basis of the legislation of the state specified in clause 1.3 of these Terms, as well as ratified international agreements:

1.1. Guidance for a risk-based approach to virtual assets and virtual asset service providers (FATF).

1.2. 5AMLD EU – Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC and 2013/36/EU (Text with EEA relevance).

1.3. Specially Designated Nationals And Blocked Persons List (SDN) Human Readable Lists OFAC – List of Specially Designated Nationals and Blocked Persons ("SDN List") and all other sanctions lists, maintained by OFAC, including the List of Foreign Sanctions Evaders, the List of Sanctions Acts Against Iran Not Included in the SDN, the List of Sectoral Sanctions Identification, the List of Foreign Sanctions Financial institutions subject to correspondent or account-through account sanctions, as well as sanctions from the non-SDN list of the Palestinian Legislative Council.

2. In order to minimize the risks of money laundering and terrorist financing, the Service reserves the right to refuse to provide exchange services at any stage in the event of assumptions that the exchange is in any way related to the purposes of money laundering, financing of terrorism or other illegal activities in accordance with the legislation of the state placement of the Service, the state of which the User is a resident, or in accordance with international law.
3. The protection of Users' personal data is ensured by the Service in accordance with the current legislation of the country where the Service is located and the Convention for the Protection of Individuals with respect to automated processing of personal data (EDS No 108).
4. The methods of processing and protecting the Users' personal data are governed by the Regulation on the Processing and Protection of Personal Data published on the Service's website.
5. In the event of detection of falsification (compromise) of communication flows or any negative impact on the normal operation of the program code of the Service, which is directly or indirectly related to the User's Application, the execution of the Order by the Service is suspended, and the parameters of the Order are recalculated for the funds already received in accordance with the current conditions or, in case of disagreement of the User with recalculation, return of Funds to the User's details.
6. Any disputes related to the terms of these Rules, the parties to the offer undertake to settle through negotiations. In case of failure to reach an agreement, all disputes are subject to resolution in accordance with the the legislation of the state of the Defendant's location.
7. Information on exchange transactions is stored in the database of the Service and is a priority source to which the parties to the offer established by these Rules are guided in disputable situations.
8. Responsibility

8.1. The Service is not responsible to the User for financial losses caused by illegal actions of third parties.

8.2. The Service is not responsible for any delayed or unrealized Orders caused by an error of the Payment System or the bank specified by the User in the completed Order. The User agrees to by the fact that in this case all claims will be sent to the relevant Payment System or bank. At the request of the User, the Service assists in providing documents confirming the using the services of the Exchange Service, when the User submits a complaint or request to the administration of the relevant Payment System or bank.

8.3. The Service does not verify the legality and legality of the User's possession of cryptocurrency, electronic money or fiat currency participating in a particular Operation. Service presumes good faith and the legality of the User's possession, use and disposal of bank cards (accounts) and the Funds on them specified by the User during the Payment. The Service is not responsible for the possession, use and disposal by the User of bank cards (accounts) and Funds that do not belong to him/her. All risks and responsibilities for the possession, use and disposal of bank cards (accounts) and Funds on are the responsibility of the User.

9. In case of acceptance of these Rules, the User confirms that:

9.5. The User does not belong to the following category of persons:

• Individuals on the OFAC Specially Designated Nationals And Blocked Persons List (SDN) Human Readable Lists, as well as other OFAC lists and lists.

https://home.treasury.gov/policy-issues/financial-sanctions/specially-designated-nationals-and-blocked-persons-list-sdn-human-readable-lists;

• Individuals and legal entities are U.S. citizens and residents who are prohibited by U.S. regulations (legislation, trade embargo, acts of the President of the United States, economic sanctions, etc.) use the Service.

10. The User undertakes not to disrupt the operation of the Service by interfering with its software or hardware, as well as by distorting the parameters (commands) transmitted to the Service.
11. If as a result of the User's actions, regardless of his intent or negligence, damage was caused to the Service, the User undertakes to compensate for such damage in full.
12. In the event that the User has received a payment under the Order more than specified in the Order, the User undertakes to make a refund to the details provided by the Service. Transfer fee in such a is paid by the exchange office.
13. The User acknowledges and agrees that the Service does not act as a financial advisor, does not provide investment advisory services, and any information transmitted by the Service The User should not be considered as advice or guidance for action.
14. The User is aware of and assumes all risks associated with the circulation of cryptocurrency.
15. In order to minimize the risks of money laundering and terrorist financing, the Service reserves the right to refuse to provide services at any stage if it is assumed that the request is in any way related to the purposes of money laundering, terrorist financing or other illegal activities in accordance with the legislation of the state location of the Service, the state of which the User is a resident, or in accordance with international law.