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Exrates Launches AML Strict Policy

As part of strengthening AML control in the cryptocurrency industry, Exrates has begun developing a unique account tracking system. It aims to verify deposits and curb money laundering attempts.

The exchange management was forced to take such measures because of increasing pressure from regulators. We strive to comply with the high rank of cryptocurrency exchange and ensure the security and legality of transactions.

What for?

Combating money laundering reduces the risk of illegal transactions. This may prevent a financial institution from engaging in any kind of illegal activity. We are well aware of this and strive to implement the AML policy in full compliance with all local and international standards.

What is done?

The first on the road to creating an effective on-board AML strategy was the creation of a special commission to combat the laundering of proceeds from crime. The employees who entered it began to develop primary AML events. They should provide wide coverage, be simple enough to implement and reliable.

Currently, the sources of funds are monitored on the stock exchange and checks are being conducted to make sure that they cannot be obtained by criminal means. Countering the legalization of profits and the prevention of the financing of terrorism increase the trust of users and regulators.

To this end, we also:

1 - Negotiations are ongoing with representatives of suppliers of ready-made solutions for the analysis of sources of funds.

2 - A study of ongoing transactions.

3 - A risk assessment system has been introduced.

As part of its activities, the commission collects user data, carefully monitors deposits and transactions to detect suspicious activities, implements new control systems, regularly reviews risks and updates the mechanism for assessing them.

Attention. Within the framework of the generally accepted AML policy, in case of suspicious transactions, the exchange reserves the right to demand from users any documents to confirm the legal origin of deposits.

What's  up?

We are constantly developing our AML system and can offer our customers the best trading conditions on our platform. You can send any questions regarding the ongoing monitoring, as well as suggestions to us by e-mail.

Fulfilling the orders of the SEC and a number of other regulatory bodies, other exchanges do the same:

Cryptocurrency exchange IncoreX has developed a special policy.

CEX.IO exchange has introduced mandatory verification.

Bittrex has tightened its KYC and AML policies.


Exrates will work regularly in this direction so that you, our customers, can have 24/7 access to the most secure and efficient platform. Stay tuned for our updates!

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