Compliance-control of LLC "ElCrypto"

In order to prevent the use of LLC “ElCrypto” (hereinafter, the Company) as a tool for the financing of terrorist activities and the legalization (laundering) of criminal proceeds, as well as to protect the business reputation of the Company and its clients, the Company takes measures to counter the financing of terrorist activities and the legalization (laundering) of criminal proceeds.

The Company’s policy in order to counter the financing of terrorist activities and the legalization (laundering) of criminal proceeds is aimed at achieving the following goals:

• compliance with the requirements of the legislation of the Kyrgyz Republic and international requirements in the field of countering the financing of terrorist activities and the legalization (laundering) of criminal proceeds (hereinafter – PFTD/LPD) in the field of virtual asset exchange;
• generalization of the experience of international financial institutions in the field of PFTD\LPD for further use in their activities;
• preventing the involvement of the Company (employees of the Company) in customer transactions (schemes) using products and services as legal instruments used to commit illegal transactions related to the financing of terrorist activities and the legalization (laundering) of criminal proceeds;
• protection of the business reputation of the Company and its clients, minimizing the likelihood of the Company’s compliance risk, as well as reputational, operational and other risks.
• continuous updating and improvement of the Internal Control Program in order to counter the financing of terrorist activities and the legalization (laundering) of criminal proceeds of the Company, taking into account the development of international practices and adaptation to new services, products and risks.

Thus, for the purposes of PFTD/LPD, the Company approved:

• An internal control program to counter the financing of terrorist activities and the legalization (laundering) of criminal proceeds in LLC “ElCrypto”.

The internal control program for the purposes of the Company’s PFTD/LPD provides for the following activities:

• implementation of customer due diligence measures using a risk-based approach;
• suspension of operations (transactions) and application of targeted financial sanctions;
• submission to the Financial Intelligence Agency of information and documents, reports on transactions (transactions) subject to control and reporting;
• ensuring the storage of information and documents about transactions (transactions), including those obtained as a result of due diligence of clients;
• training of the Company’s employees on PFTD/LPD issues;
• ensuring the fulfillment of other duties provided for in the legislation of the Kyrgyz Republic in the field of PFTD/LPD.

For the effective implementation of programs aimed at implementing measures in the field of PFTD/LPD, the Company has established a Compliance Control Department.

Thank you in advance for your understanding regarding the provision of Questionnaires and necessary documents required to establish contractual relations with the Company, as this is necessary in order to comply with the law and protect the reputation of the Company.