At Nebeus, we are committed to complying with European Anti-Money Laundering (AML) regulations and the AMD 5 Directive. To ensure the security and integrity of transactions made between Money Accounts and Crypto Accounts, we have introduced new rules effective from 29/12/2022. This article aims to provide clarity on the AML review process and measures we have implemented to maintain regulatory compliance.
Review Process for New Accounts:
To facilitate a smooth and timely payment processing experience, we recommend following these guidelines:
1. Automatic Processing: Deposits, including those from third parties, are automatically processed. However, transactions involving third-party payments, particularly on recently created accounts, may pose a higher risk. In such cases, we will conduct an analysis of the transaction risk before approving withdrawals.
2. Document Submission: In higher-risk cases, we may require you to provide supporting documents that validate the source of funds received from the third party. Acceptable documents include purchase agreements, invoices, loan agreements, marriage certificates, and quotes. If you are unable to provide the requested documents, we may hold the withdrawal temporarily for security reasons. Alternatively, you can proactively contact us with proof of funds, allowing us to expedite the approval process.
Review Process for All Accounts:
1. Deposits from Your Own Banking Accounts: Nebeus considers the amounts deposited into your account when assessing the AML risk rating. In certain cases where a higher risk is identified, we may request additional documents as source of wealth, such as job contracts, salary records, tax returns, or financial account statements.
2. Top-Up with Card or Apple Pay: Our compliance team ensures the security and authenticity of card transactions. In exceptional circumstances, we may request evidence to verify your identity as the cardholder. This may include a selfie holding the card, a statement showing the top-up transaction, and your full name. If you use a digital card or Apple Pay, please provide the statement of the actual card displaying the top-up transaction, your bank details, and your full name.
Account Closure and Claims:
1. Account Closure: In the event that our compliance team suspects suspicious or illegal activity associated with your account, we may be required to close it. Please note that an account closure fee of 10€ will be charged. If your account still contains funds, you will receive a notification to withdraw the balance within 48 hours. The minimum withdrawal amount is 10€.
2. Claims: Any claims arising from intentional fraud, intentional misrepresentation, or willful misconduct will be notified to you. For each returned claim, a fee of 10€ will be charged.
Exchange transactions involve exchanging the fiat or cryptocurrency you hold for an equivalent value of another fiat or cryptocurrency. This process is not subject to the additional AML review process mentioned above.
We appreciate your understanding and cooperation in complying with these AML regulations. Should you have any questions or require further assistance, please do not hesitate to contact our dedicated support team.
Thank you for choosing Nebeus as your trusted financial services provider.