AstralX is a digital asset trading platform that adheres to the highest ethical standards and upholds principles of compliance. We recognize the importance of Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) efforts and are dedicated to establishing effective AML/CFT policies and procedures to safeguard our platform from illicit activities and provide a secure and reliable trading environment for our customers.
1. Mist AML Platform: AstralX utilizes the Mist platform for AML and CFT purposes, a robust tool equipped with multidimensional, comprehensive, and rich visual control components. Its purpose is to help Astral efficiently identify and respond to malicious address data and address entity label data.
- Multidimensional Data: The Mist platform provides multidimensional data analysis capabilities, allowing Astral to observe and analyze user transaction behaviors from different perspectives. This includes detailed scrutiny of transaction data in terms of timelines, geographical distributions, frequencies, and other dimensions. The multidimensional data view helps the exchange gain a comprehensive understanding of user behaviors and swiftly identify abnormal or suspicious transaction patterns.
- Malicious Address Data: The Mist platform monitors and screens users' digital asset addresses through an integrated malicious address database. This database contains data associated with illegal activities such as money laundering, terrorist financing, and fraud. By comparing transactions with this database, Astral can promptly detect and prevent transactions related to malicious addresses, ensuring platform security and compliance.
- Address Entity Label Data: The Mist platform also offers comprehensive address entity label data, classifying and marking entities behind different addresses. These labels cover various entities such as individual users, businesses, government agencies, etc., assisting the exchange in identifying potential high-risk entities. By accurately defining address entities, Astral can better understand its user base and conduct corresponding risk assessments and due diligence.
- Visual Control Components: The Mist platform incorporates abundant visual control components that allow Astral to intuitively view and analyze vast amounts of AML/CFT data. Users can utilize interactive charts, graphs, maps, and other visualizations to delve into data correlations and patterns. This visualization capability enables the exchange team to swiftly identify risks, optimize decision-making, and strengthen monitoring and response to suspicious activities.
2. AML/CFT Principles and Methods: We strongly support AML/CFT efforts and consistently conduct due diligence on customers and natural persons acting on their behalf. When dealing with customers, we adhere to high ethical standards, diligently avoiding any business relationships that may involve money laundering or terrorist financing. Additionally, we commit to collaborating with relevant authorities to prevent and combat money laundering and terrorist financing threats.
3. Risk Assessment and Mitigation: We conduct risk assessments on customers, products or services, and geographical locations, and implement appropriate risk mitigation measures based on the assessment results. For customers under suspicion, we conduct enhanced due diligence and closely monitor their transaction activities to ensure the platform operates securely and compliantly.
4. Handling of New Products, Business, and Technology: In cases involving new products, business, and technology, we conduct thorough risk assessments, with particular attention to potential anonymity features of digital tokens, to ensure compliance with AML/CFT requirements.
5. Customer Due Diligence (CDD): Astral strictly adheres to the principle of not opening anonymous accounts or accounts with fictitious names. We report suspicious transactions with regards to the source of customer funds and cooperate with financial intelligence units. For customers engaging in transactions or transferring the value of digital tokens with us, we implement CDD measures and regularly review customer information, especially for high-risk customers with enhanced monitoring.
6. Identification and Verification of Customer Identity: To ensure the authenticity of customer identity, we collect full names, unique identification numbers (such as ID card numbers, birth certificate numbers, or passport numbers), and birthdates. For corporate or legal entity customers, we also gather information related to their legal form, organizational structure, and the authorities with the power to bind the corporate or legal entity.
7. Identification and Verification of Beneficial Owners: We conduct inquiries to identify any beneficial owners related to customers and take reasonable measures to verify their identities. For high-risk categories of customers, we implement enhanced CDD measures, with approval from senior management.
8. Ongoing Monitoring: Astral continuously monitors its business relationships with customers and reviews transactions in their accounts to ensure consistency with our understanding of customers, business, and risks. We pay particular attention to complex, unusually large, or transactions without apparent economic or lawful purpose, conducting investigations and documenting findings. Our monitoring system is equipped with the Mist AML platform to promptly identify and handle suspicious transactions and activities.
9. Politically Exposed Persons: For politically exposed persons and their family members or close associates, we take reasonable measures to verify their identities and conduct enhanced due diligence, including determining the source of their wealth and funds, while maintaining heightened monitoring.
10. Cash Payment Restrictions: Astral firmly prohibits any payments in the form of bearer negotiable instruments and does not conduct any cash payments during its business operations.
11. Data Retention: To comply with regulatory requirements, we retain appropriate records for at least five years to ensure the proper preservation of all transactions and customer information.
In conclusion, AstralX adopts comprehensive policies and measures for AML and CFT, leveraging the Mist platform as a powerful tool to effectively identify and respond to potential illicit activities. The platform ensures the safety of customer assets and compliance with regulations, providing a secure and reliable trading environment while actively contributing to the prevention of money laundering and terrorist financing.