Anti-Fraud & Counter Terrorism Financing Policy
In the event of a conflict between Arwena LTD and a Client, terms expressed in English and expressed in any other language, the terms expressed in English shall prevail over those expressed in any other language.
Arwena Limited recognizes that decentralized and distributed digital currency and payment systems in which payments are processed and secured by advanced cryptography and distributed computing power instead of a central bank, corporation or government pose a risk of illegal uses (as do all financial systems). Arwena Limited. believes, however, that the legitimate use of math-based currency networks provides untold benefits and efficiencies within the global economy.
Arwena Limited. innovative services and established specific controls address those risks as required by the law. It is the policy of Arwena Limited. to comply with applicable standards regarding anti fraud and identity verification, and to detect and prevent the use of its Service for fraud or to facilitate criminal or terrorist activities.
While Arwena Limited is committed to protecting its users’ privacy, it will not allow people to use its Services to commit fraud or other crimes, finance terrorist activities, or facilitate other illegal conduct.
Having in mind that (1) cryptocurrencies are transferred peer-to-peer, therefore, the “middleman” is cutting out, (2) cryptocurrencies transfers are recorded in the distributed public ledger and anyone has access to these transfers, and (3) the risk that anyone would attempt to use Arwena Limitedplatform to be used for illegal activities is very low, Arwena Limitedaims to prevent and, detect all and any attempt to commit any illegal act by anyone who use its services platform or it is connected with the Company.
The management of The Company places extremely high importance on assisting in discovering any fraud scheme. These policies are to be read by and adhered to by all officers, employees,associates, and agents of The Company.
This Policy applies only to customers who has opened an account with Arwena Limited.
Arwena Limitedoffers an online trading platform through www.xtexchange.com (“Arwena Limited”) that allows people to place interchange orders on Contracts denominated solely in cryptocurrency. The Company also offers, tools that allows people to deposit or withdraw cryptocurrency units to and from an account via Peer-to-Peer Network. The Company doesn’t offer financial services/investment services/fiat to crypto conversion/crypto to fiat conversion services.
By using Arwena Limitedplatform, customers can open a long or short positions using deposited crypto units as leverage, or hold crypt units indefinitely. In order to prevent any abuse, all crypto deposits and withdrawals form customer accounts must be made from the same cryptocurrency Wallet. For avoidance of doubt cryptocurrency withdrawals must be made to the same cryptocurrency wallet that was used by registered customer. Registered customers are not required to disclose their identities.
3. RECORD KEEPING
When transferring cryptocurrency, the Company will record in its database at least the following information:
- The execution date of the transmittal order.
- The Bitcoin Transaction Identifier (“Txid”)
- The Bitcoin address.
- The amount of the transmittal order.
- The Bitcoin trading account number of the recipient.
For each transmittal order that The Company accepts, it will retain in its files any payment instructions received from the transmitter with the transmitter order and any form relating to the transmittal of funds that is completed by the person placing the transmittal.