KYC / AML

XPBEE Group adheres to the highest standards in the fight against money laundering (AML) and combating the financing of terrorism (CTF).
Our policy is aimed at actively preventing risks associated with these threats. To assist government authorities in combating terrorism financing and money laundering, the law requires all financial institutions to collect, verify, and register information identifying every client opening an account. We are obligated to report suspicious client activities related to money laundering.

What is money laundering?

Money laundering is the process of transforming funds obtained illegally (fraud, corruption, terrorism, etc.) into other assets that appear legitimate to hide or distort the true source of these funds. The money laundering process is divided into three consecutive stages:

1. Placement. Funds are converted into financial instruments (check, bank account, transfer) or used to purchase goods that can be sold. To avoid suspicion, funds can be deposited in parts — this is called "smurfing."
2. Layering. Funds are moved between accounts and other financial instruments to obscure their origin and complicate tracking.
3. Integration. Funds re-enter the economy as legitimate assets for purchasing goods and services.

XPBEE actively prevents any actions related to laundering illegal funds. The AML policy prohibits the use of the company's services for money laundering, terrorism financing, or other criminal activities. XPBEE does not accept or pay out cash under any circumstances and reserves the right to suspend client operations that may be connected to illegal activity.

Company Procedures

XPBEE complies with all necessary measures according to applicable laws and regulations. The AML policy is implemented through the following mechanisms:

1. "Know Your Customer" (KYC) policy and due diligence
2. Monitoring of client activities
3. Record keeping

Know Your Customer (KYC)
To fulfill KYC and AML obligations, every client company must undergo a verification process. Before XPBEE begins cooperation, the company verifies the authenticity of the client’s or counterparty’s identity. Special attention is given to clients from countries with insufficient AML standards and high crime risk.

Know Your Customer KYC

To fulfill KYC and AML obligations, every client company must undergo a verification process. Before XPBEE begins cooperation, the company verifies the authenticity of the client’s or counterparty’s identity. Special attention is given to clients from countries with insufficient AML standards and high crime risk.

Individual Clients

Clients must provide the following documents for identity and address verification:

1. Passport, driver's license, or national ID card
2. Document confirming residence (utility bills, bank statements, etc.)

Corporate Clients

If the company is not publicly listed, the following documents are required:

1. Certificate of registration
2. Articles of incorporation
3. Board resolution appointing authorized representatives
4. Documents verifying the identity of directors and ultimate beneficiaries

Monitoring Client Activity

XPBEE monitors client activity to identify suspicious transactions that do not match the client’s profile. In case of suspicion, the company is obligated to report this to regulatory authorities.

Record Keeping

All transaction data and identification documents are kept for a minimum of 7 years after the account is closed.

Record Keeping

If money laundering or other criminal activity is suspected, XPBEE acts in accordance with the law and informs the regulatory authorities. The company reserves the right to temporarily block the suspicious account or terminate its relationship with the client.

Account Deletion

If you want to delete your account on the XPBEE platform, please follow this link: Request for Account Deletion.
After filling out the form, you can submit a request to delete your data. We will process your request within 3 business days. After account deletion, all related data will be permanently lost.

Please note that the deletion process is final, and your data cannot be recovered. We will also send you a confirmation email that all your data has been deleted.

If you have any questions or need further assistance, please contact our support team at support@xpbee.pro.