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Service RulesAML/KYC PolicyArticles
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AML/KYC Policy

Cooperation Agreement with the online platform 24zone

This Agreement constitutes a public offer and regulates the procedure of interaction between the web resource 24zone (hereinafter referred to as the 'Service') and the User (an individual or legal entity) who accepts the terms of this document.

1. Terms and Definitions

Service — an automated online platform for the exchange of electronic units. User — a person who has agreed to the terms of the Service and submitted an exchange request. Electronic units — digital assets involved in the transaction. Request — an electronic application submitted by the User specifying the amount, details, and terms of exchange.

2. Subject of the Agreement

1. Submitting a request is considered an acceptance of the public offer and confirms the User’s consent to the terms of the Agreement. 2. The User is given 20 minutes to transfer Electronic units to the Service’s details. 3. The Agreement enters into force upon receipt of funds into the Service’s account and remains valid until full performance of obligations.

3. Procedure for Request Submission and Acceptance

By using the functionality of the Service, the User submits a request, in which they instruct the Service to carry out transactions for a certain amount of 'Electronic units'. The Service accepts the 'Electronic units' and on its behalf sells them to other persons wishing to purchase these units. The amount of money equivalent that the User plans to receive for the product is specified in the request. Funds received from the sale of 'Electronic units' are transferred to the details provided by the User in the request. The Service may sell the product at a price exceeding the amount specified by the User. In this case, the positive difference is considered an additional payment, service fees are withheld and credited to the Service’s account.

4. Conditions for Adjustment and Refunds

4.1. If the actual transfer amount differs from the declared one by no more than 10%, the Service automatically recalculates the transaction volume at the actual rate. If the deviation exceeds 10%, the Service has the right to terminate the Agreement and return the Electronic units to the User’s details (minus commission). 4.2. If the transfer has not been received within 20 minutes or the User has notified of a delay with justification, the request is considered inactive; funds received later are either returned or exchanged at the current rate. 4.3. The User has the right to withdraw from the transaction before the funds are credited by the Service and request a refund of the Electronic units within 24 hours (minus the payment system commission).

5. Liability of the Parties

1. The Service is not responsible for errors in the details provided by the User. 2. The User is responsible for the accuracy of the data provided and timely transfer execution. 3. The Service’s liability is limited to the amount of funds received from the User.

6. AML/KYC Procedures

6.1. The Service undertakes to comply with international standards for preventing money laundering and terrorist financing. All incoming cryptocurrency transactions are mandatorily subjected to automated AML checks using the BitOK AML analytical service. 6.2. As part of this check, each transaction is assigned an individual risk score (Risk Score), which is formed based on a comprehensive analysis of the following factors: - Counterparty category (including cryptocurrency exchanges, exchange services, mixers, as well as other types of services); - Previous activity and history of using the cryptocurrency address; - Presence of direct or indirect links of the address with sources of high-risk funds; - Structure of the transaction, its parameters, and other technical characteristics. Based on the conducted analysis, transactions are classified into the following risk levels: Low Risk / Medium Risk / High Risk. 6.3. Depending on the established risk level, the Service applies the following measures: Low Risk — the transaction is processed in the standard mode without additional verification procedures. Medium Risk — the Service may suspend the execution of the operation until the completion of additional verification, including, but not limited to, the user undergoing the identification procedure (KYC). High Risk — the Service may refuse to execute the operation, block the transaction, and apply additional AML control measures in accordance with internal compliance procedures. 6.4. The approximate time for conducting additional verification is from 1 to 3 hours; however, in certain cases, this period may be extended depending on the complexity of the verification, the volume of required data, and the nature of identified risks. 6.5. Upon detection of suspicious operations (risk scoring ≥30%), the Service may suspend the transaction and request documents to verify the source of funds. As part of such verification, the Service may require the user to provide the following information and documents: - Completion of the identity verification procedure (KYC); - Confirmation of the source of funds (Source of Funds); - Provision of additional data, documents, or explanations necessary for conducting AML analysis and assessing the risk level. The user is obliged to provide the requested information within a reasonable period. Failure or refusal to provide the required information may result in refusal to execute the operation. 6.6. In case of establishing a violation of the Service’s AML policy, the refund will be made to the original sender’s address from which the transaction was initiated. If the user undergoes the identification procedure (KYC), the refund is processed within 24 hours from the moment the refund request is received and the verification is completed. If the user refuses to undergo the KYC procedure, the refund is processed within 48 hours from the moment the funds are received for the respective transaction. In this case, the Service does not hold assets indefinitely, except in cases provided by applicable law or requirements of authorized authorities.

7. Force Majeure

The Parties are released from liability for full or partial non-performance of obligations due to force majeure circumstances (including technical failures of third-party services and sharp exchange rate fluctuations). The performance period is extended for the duration of such circumstances.

8. Dispute Resolution

All claims must be submitted in writing and sent to the Service’s email. A response is provided within 5 business days. Disputes not resolved amicably shall be considered in accordance with applicable law.

9. Termination of the Agreement

Either party has the right to withdraw from the performance of obligations by sending written notice to the other party. Upon termination, the Service undertakes to return uncompleted funds to the User within 24 hours (minus commission).

10. Final Provisions

This Agreement has legal force from the moment the Electronic units are credited to the Service’s account and remains valid until full performance of obligations. The electronic form of this document is equivalent to a handwritten agreement.

Service RulesAML/KYC PolicyArticles
Service for electronic currency exchange
tgTelegram
Service RulesAML/KYC PolicyArticles
Our partner
bestchange