AML Policy

Anti-Money laundering is defined as any process involving the concealment of the origins of illegally obtained money, typically bymeans of transfers involving foreign banks or legitimate businesses. Criminals specifically target financial services firms through which they attempt to launder criminal proceeds without the firm’s knowledge or suspicions. Blockshield.finance FAGlobal Finance OÜ (14768224) FVT000497 license, platform allows customers to buy, sell, trade and hold digital and fiat currencies (“exchange services”). As such, and in response to the threat of money laundering activity being conducted through the exchange, quube.exchange has adopted an anti-money laundering policy which is followed by all of its employees, officers, agents, owners and directors. In all instances of fiat currency trading quube.exchange adopts the KYC and AML standards of the customer’s country of residence and follows all relevant regulatory and legal frameworks. In the absence of appropriate explicit frameworks speaking to digital currencies our company adopts the most stringent relevant standards of compliance in Effect Globally and follows established industry practices. Our KYC and AML Policy sets out minimum standards of compliance and establishes a Risk Based Approach (RBA) towards assessing and managing the money laundering and terrorist financing risks to the company.

These include:
• Verifying customer identification using a multi-level system;
• Filing reports as required by local regulations;
• Creating and retaining encrypted records in multiple locations;
• Responding to law enforcement requests;
• Determining and obtaining necessary Licensing in countries of operation;
• Compliance with local regulatory requirements;
• Employee and Compliance Officer training;
• Ongoing transaction monitoring which seeks to identify Layering and Placement of all currency;
• Identification of cryptocurrency transactions onto relevant Blockchains.

Blockshield.finance also prohibits transactions with individuals, companies and countries that are on prescribed Sanctions lists and therefore screen against UN, EU, UK Treasury and US Office of Foreign Assets Control (OFAC) sanctions lists in all jurisdictions in which we operate and prior to customer verification. Additionally, in response to the global reach of the IRS through FATCA (Foreign Account Tax Compliance Act) and the uncertainty surrounding the legal repercussions of so accepting, quube.exchange regrettably does not accommodate US customers wishing to trade in fiat currencies at this time. If you’re a resident of one of the following countries, you will be restricted from accessing Blockshield.finance services.

Afghanistan
Bosnia & Herzegovina
Burma; Burundi
Central African
Republic
Congo
Cote D’Ivoire
Cuba
Eritrea

Iran
Iraq
Lebanon
Liberia
Montenegro
Nigeria
North Korea
Republic of Guinea
Serbia

Somalia
South Sudan
Sudan
Syria
Tunisia
Yemen
Zimbabwe
United States of America