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AML/KYC POLICY

Updated

This document was last updated on January 20, 2025.

Introduction

ROOEX LIMITED is committed to preventing its platform from being used for money laundering or other suspicious activities. This policy outlines the comprehensive measures the company implements, in alignment with applicable regulations and best practices.

Policies and Procedures

The Board of Directors of ROOEX LIMITED approves the Anti-Money Laundering (AML) and Know Your Customer (KYC) policies. These policies are reviewed and updated at least annually, or as needed, to reflect changes in laws and industry standards.

Customer Identification

ROOEX LIMITED is committed to identifying every customer using its virtual currency trading platform through robust Identification and Verification (ID&V) processes.

Account Opening Procedures

All users must provide proof of identity before engaging in any transactions. The verification process is mandatory and applies to both individuals and corporate entities.

Proof of Identity

For Individual Users:

  • Full Name
  • Date and Place of Birth
  • Email Address
  • Contact Phone Number
  • Residential and Mailing Address (P.O. Boxes are not acceptable)
  • Valid Photo Identification (Passport, government-issued ID, Social Security Number, Employee ID, or Individual Taxpayer Identification Number)
  • Proof of Address (e.g., utility bill, phone bill, bank statement, credit card statement)

For Corporate Users:

  • Company Name
  • Account Representative
  • Proof of Business Address and Mailing Address (if different)
  • Valid Photo Identification for Directors (as listed above for individuals)
  • Company Incorporation and Business Profile

Verification

Users can digitally upload documents, and these must be verified before any account is established. Multi-factor authentication is employed to ensure effective identification, especially considering account size or other risk factors.

Verification Methods Include:

  • Obtaining and verifying proof of address.
  • Confirming account holder details via phone.
  • Evaluating financial statements for business accounts.
  • Cross-referencing identification information with reliable third-party data sources.
  • Reviewing notarized or certified documents as needed.

If documents fail to verify the true identity of the account holder, the account will be closed.

Suspicious Transactions and Activity Reporting

ROOEX LIMITED actively monitors for suspicious activities. Unusual transactions that lack logical explanation or may indicate illegal intent are thoroughly reviewed. Upon identifying potential suspicious activities, the Compliance Officer will determine if a report to law enforcement is necessary.

Reporting Responsibilities

The Compliance Officer is responsible for consulting with senior management to determine the suspicious nature of transactions. Appropriate filings are made as necessary.

Record Keeping

ROOEX LIMITED enforces a stringent record-keeping protocol to ensure:

  • Storage of identity documentation provided by customers.
  • Detailed records of the methods and results of customer verification.
  • Transaction and identification records are retained for at least five years.

AML Audit

The Compliance Officer oversees the annual audit of AML protocols and submits the audit results and recommended corrective actions to senior management for review and implementation.