AML Politikası

1. Purposes and Basis

In view of the fact that money laundering will undermine the development of digital goods trading, facilitate and breed corruption, pollute social morality, damage the legitimate rights and interests of Users, destroy the foundation for the sound operation of digital goods trading, increase the legal and operational risks of digital goods trading projects, Farmskins formulates these Anti-Money-Laundering Rules (AML) in accordance with the Terms and Conditions of Farmskins and other relevant documentation, so as to prevent money laundering and terrorist financing and fully comply with relevant regulations against money laundering and terrorist financing. By the very nature of its businesses, Farmskins will have a portfolio of clients worldwide. This international presence may trigger queries or requests for information from other law enforcement authorities. Farmskins shall therefore abide to the different laws and legal requirements imposed by the authorities in Cyprus. These rules outline the procedures to be followed in order to prevent money laundering, terrorist financing and corruption. Farmskins does not wish to be manipulated by money launderers or terrorists or to become associated with money laundering or terrorism in general. Its aim is not merely to comply with its legal obligations, but to effectively minimise the risk of exploitation by criminals. Thus, the anti- money laundering, terrorist financing and corruption policies are based on the requisite highest standards.

2. Scope of Application

These Rules shall apply to all visitors and users on Farmskins. The Users shall implement the provisions of these Rules in accordance with the anti-money laundering and anti-terrorist financing laws and regulations of the country or region where they are located and within the scope prescribed by the laws and regulations of the region or country where they are located. Where there are stricter requirements in the country or region where the users are located, such requirements shall prevail. These rules are governed by and shall be construed in accordance with the laws of Cyprus.

3. Basic Principles of Farmskins against Money Laundering

Farmskins monitors User risks according to the following principles:

• The principle of comprehensiveness. Farmskins will take into account all kinds of risk factors on the basis of which Users may be suspected of money laundering, and monitor risks of all Users in an appropriate manner.
• The principle of prudence. On the basis of fully understanding the Users, Farmskins will improve its ability to authenticate User identities, and monitor User risks in a prudent way.
• The principle of sustainability. Farmskins will pay appropriate attention to User risks and respond to risks on the basis of actual and specific circumstances of each risk.
• The principle of confidentiality. User identity information, transaction information and risk level held by Farmskins shall be kept strictly confidential and shall not be provided to any entity or individual unless it is required by law or regulatory authorities.
• The principle of hierarchical management. Farmskins will regularly review the basic information of the Users according to the risk level of each User. And the review of Users with a higher risk level shall be stricter than that of Users with a lower risk level.

The staffing structure of Farmskins team for advancing the fight against money laundering shall be determined on the basis of regulatory requirements and location-specific conditions. The main responsibilities thereof include:

• to implement relevant rules against money laundering and plans of the guidance group for money laundering affairs;
• to implement various assignments;
• to analyze and identify the identity and background of any User with a suspicious transaction as well as each such suspicious transaction;
• to assess and adjust the risk level of Users;
• to conduct due diligence and continuous supervision of Users;
• to review and regularly examine transactions that have occurred;
• to report suspicious transactions to the competent authorities;
• to assist in the investigation at the request of any competent authority.

4. Due Diligence and Identity Verification

Following the basic principles and understanding Users, Farmskins conducts due diligence of Users in cases determined as suspicious and/or for the limited list of transactions for preventing any possible fraud activity in the future and/or for users from the territory identified as high-risk and Farmskins has the right to conduct enhanced due diligence.

Customer Due Diligence (CDD) and, where applicable, Enhanced Due Diligence (EDD) are conducted exclusively through the Farmskins authorized third-party verification service, Sum and Substance.

The scope and type of information requested for Due Diligence purposes may vary depending on the User’s jurisdiction, applicable requirements, and the assessed risk level associated with the User’s location or activity.

Farmskins does not collect, process, or store copies of identification documents or other personal data submitted for verification purposes.

All such data is processed directly by the authorized verification provider in accordance with applicable data protection laws, including the General Data Protection Regulation (GDPR).

5. User Data storage system

Farmskins establishes a system for the storage of Users’ identity information and transaction records, and properly preserves documents and data such as User identity information and transaction records so as to facilitate money laundering investigation and supervision and regulation, and prevent the loss, damage and disclosure of such information.

6. Identification of Suspicious Transactions

Farmskins has the right to verify the following suspicious transactions and suspicious accounts:

• where an account that has been inactive for a long time is suddenly reactivated, or there is a sudden abnormal in-flow of balance deposit in an account with unusually small or large amounts flow, within a short period of time;
• where a large number of accounts are opened or cancelled without any justifiable reason, and a large amount of currency is deposited prior to such cancellation of accounts;
• there is any suspicious lump-sum deposit of large amount in the account of an User;
• where the User excessively frequent purchases within a certain period of time;
• other suspicious trading situations identified by Farmskins.

7. Identification of Terrorist Financing

If Farmskins suspects that an User’s transaction or attempted transaction is related to terrorism, terrorist crime, any terrorist organization, terrorist or people engaged in terrorist financing activities, it shall adopt appropriate measures, regardless of the amount of fund or value of digital goods involved.

8. Cautions to the Users

The Users shall pay attention to the following cautions:

• the Users are forbidden from lending their account details to any other person;
• the Users are forbidden from renting out or lending their identity certificates;
• the Users are forbidden from renting out, lending or disclosing important personal assets information, such as the User’s account details and password;
• Users shall actively cooperate with Farmskins in User identification.

9. Confidentiality in Anti-money Laundering

Any staff member of Farmskins that comes across any information relating to anti-money laundering through his or her performance of duties relating to money laundering or his or her work shall strictly comply with confidentiality requirements and keep confidential all the User identity information, suspicious transactions, terrorist financing transactions and other information that he or she may obtain. Such staff member may not provide such information to any organization, individual or any unrelated staff member of Farmskins.