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AML check
What is an AML check?
What is an AML check?
Kuna Support 2 avatar
Written by Kuna Support 2
Updated over a week ago

Let's start with the terminology:

AML is an anti-money laundering measure that must be strictly observed by all financial companies operating in the European Union and the United States.

KUNA is also subject to the settlement because it operates according to European standards and has a European license.

Anti-money laundering (AML) checks are one of the customer identification measures required by regulated businesses to comply with anti-money laundering and financial crime prevention laws.

In simple terms, it is a check of crypto transactions for "purity". For any licensed platform, it is important to control the origin of funds.

Why is it important?

1. Pure cryptocurrency - we monitor the receipt of funds and do not allow the use of cryptocurrency received from sanctioned services and wallets, so you use only pure cryptocurrency on our platform.

2. Security factors:

  • If you buy cryptocurrencies, you need to be sure that your assets will not become sanctioned.

  • The AML procedure is aimed at detecting suspicious transactions before they reach the service wallet

  • As soon as a transaction from a sanctioned service enters the service's balance sheet, all funds of this service increase their risk percentage, which is why it is important to track them before crediting.

  • The AML regulations do not provide for expiration dates, and the receipt of dirty cryptocurrency on the service can contaminate your funds, so such a check is a guarantee of the safety of your savings.

3. Reputation - the verification does not allow transactions related to the aggressor country and all countries, citizens, and services from the sanctions list, so you can be sure that your transactions and assets are not related to the sponsorship of terrorism and money laundering.

What should you do if your transaction is under AML review?

If you have received a letter from [email protected] about the verification, please read it carefully and provide the requested information in response, your prompt response will help us resolve the issue as soon as possible.

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