Anti-Money Laundering & Counter-Terrorism Funding Policy
KP Asset Management Pty Ltd, trading as Chillur, is enrolled and registered under the Australian Transaction Reports and Analysis Centre (AUSTRAC) to provide Digital Currency exchange services. Our registration number is DCE100577202-001.
As a requirement of this registration, we are required to follow the requirements of the Anti-Money Laundering and Counter-Terrorism Financing policy.
The goal of this policy is to monitor and prevent:
- Money Laundering: Where illegally obtained funds, such as those generated from practices like tax evasion, corruption and bribery, people smuggling and arms trafficking, enter the financial system. These funds are mostly generated in cash and converting it to other forms makes it widely usable.
- Counter Terrorism Funding: Where funds raised from individuals, through activities like kidnapping and extortion, or through businesses like diamond trading or real estate investment could be used to support terrorism worldwide.
- Fraud: When someone attempts to deceive another through false representation or activities.
In April 2018, AUSTRAC determined that cryptocurrency exchange could be used for these activities and requires all providers to carry out due diligence and know our customer (KYC) procedures by requiring all service providers to verify a user’s name, address and date-of-birth.
We use the Australian Government approved RapidID verification system to verify our customers to ensure that they are who they say they are and that their funds are coming from a legitimate source – their bank accounts.
By verifying your account with us, you become an integral part of the fight against terrorism funding, money laundering and fraud.