AML | KYC Policy

Money laundering is a huge problem worldwide. Unfortunately, while cryptocurrency means cheaper, faster international transactions, it also makes the crypto sector ripe for criminal activity, such as money laundering and terrorist funding.

To stay ahead of this, regulatory bodies are installing staunch anti-money laundering (AML) legislation. This helps prevent money laundering through cryptocurrency exchanges and custodian services. Strong AML programs include foolproof KYC processes to identify and verify users. With this, authorities hope to root out suspicious activity in the crypto sector.

However, for crypto exchanges and wallets, this also means more expensive onboarding, which is peppered with friction and can be vulnerable to data breaches. Unsalable manual KYC processes simply aren’t going to cut it in a world where regulation is increasing at an alarming rate.

Therefore, we have included a third-party KYC and AML solution that provides industry-standard AIbased KYC verification systems. This will enable a more robust and easier user onboarding experience.

As part of Dhicoins' policy to prevent money laundering and illegal financial activities, we require our clients to complete the AI-based Know-Your-Customer (KYC) verification generated upon signup.

Dhicoins reserves the right to verify a user’s identity on an ongoing basis, especially when their identification information has been changed or their activity seems suspicious (unusual for the particular User). In addition, Dhicoins reserves the right to request up-to-date documents from the Users.

Even if a user has passed identity verification in the past, Dhicoins may still request up-to-date documents. This is to ensure that users' identities remain accurate and up-to-date and to provide a safe and secure platform for the crypto community.

If a user fails to complete the KYC procedure, they will be ineligible to access the services from Dhicoins.