High-Risk Transaction Protocol

Transactions flagged with a risk score above 50%—or linked to suspicious activities—trigger enhanced due diligence. Prohibited activities include:

• Darknet Services
• Illegal Services
• Gambling
• Exchange Fraud
• Scams
• Stolen Funds
• Mixing Services
• Sanctions Violations
• Terror Financing

What Is AML and What Is It For?

Anti-Money Laundering (AML) is a set of measures to combat money laundering, terrorist financing, and the creation of weapons of mass destruction. This procedure includes identification, storage, and mutual exchange of information about customers, their profits, and transactions between financial organizations and government agencies. Most classical financial institutions use AML measures to verify businesses that deal in cash or use cash as one of their main assets.

They also check those businesses that have money in different accounts, regularly transfer it to other countries and banks, buy futures, and other cash settlement instruments. In other words, all businesses that have the potential to circumvent financial monitoring and launder funds are subject to verification.

Why Does ChinaitechPay Have and Implement an AML Policy?

As an electronic money exchanger, ChinaitechPay is bound by regulatory obligations and must implement measures to combat fraud, money laundering, and the financing of terrorist activities.

Our Anti-Money Laundering (AML) policy has been meticulously crafted to prevent money laundering, adhering to local AML legislation. This includes the establishment of robust systems and controls to mitigate the risk of our firm being utilized for financial crimes.

ChinaitechPay has robust policies, controls, and procedures in place to detect, prevent, and report suspicious activities. To comply with local requirements and global sanctions, we conduct customer account screenings against government watchlists. Additionally, we may request documentation to verify your identity or for business verification purposes.

To comply with local requirements and global sanctions, we compare client accounts with lists of undesirable clients. Furthermore, we may request documentation to verify your identity or business details.

Should reasonable suspicions arise from the administration of ChinaitechPay that the User is attempting to utilize our services for money laundering or any other illicit activities, the administration reserves the right to:

• Suspend the execution of the User’s exchange operation;
• Request identification documents (passport, ID card, or driver’s license);
• Request a selfie-video from the User with the identification document and an exchange feature, with the current date spoken on video;
• Request additional information related to payments, such as the platform through which the funds originated.

If possible, provide screenshots of the sender’s wallet or platform withdrawal history, along with links to both transactions in the explorer. Specify the service you received funds from, the transaction amount, the date and time of execution, and the contact person you communicated with. If available, include screenshots of the correspondence with the sender, including the confirmation of sending funds.

Typically, when a transfer is deemed “High Risk Score” or for other reasons, ChinaitechPay’s User funds are frozen on exchanges and other custodial wallets where ChinaitechPay accepts funds. In such cases, ChinaitechPay forwards the requirements of the exchange or payment system. Additionally, ChinaitechPay cannot process orders or refund funds that it does not possess. Funds are not credited to the ChinaitechPay account but are held in arrest, stored, and awaiting a decision from the exchange (or payment system).

This decision is then pending a review from the exchange’s security department, the FBI, or the police of the country that imposed sanctions and arrested the sender. If the User fails to provide the necessary information, and the deanon process does not occur, ChinaitechPay has no grounds to review the matter. Consequently, the possibility and timing of unlocking the funds remain uncertain.