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 to 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, 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 which provides industry standard AI based KYC verification systems. This will enable more robust and easier user onboarding experience.

As part of Dhicoins policy to prevent money laundering and prevent illegal financial activities we require our clients to follow two simple steps:

1. Complete the AI based KYC verification generated upon signup.
2. Source of Fund or Salary such as salary slip and bank statement.

Dhicoins reserves the right to verify User’s identity in an on-going basis, especially when their identification information has been changed or their activity seemed to be suspicious (unusual for the particular User). In addition, Dhicoins reserves the right to request up-to-date documents from the Users, even though they have passed identity verification in the past.

Failure to complete the KYC procedure will lead to customers not able to access the services from Dhicoins.