Blocked Transactions Due to High AML Risk

The safety and security of your transactions are our top priorities. As part of our ongoing Anti-Money Laundering (AML) compliance measures, every transaction made through our platform is thoroughly checked by our AML provider. Here’s what you need to know if your transaction is flagged as high risk and becomes blocked.

How AML Risk Assessment Works

Each transaction is automatically evaluated for AML risk. If a transaction receives a risk score of 70% or higher, it will be immediately blocked, and the associated funds will be frozen. This preventive action allows us to review potentially suspicious activity, protecting both our clients and our platform.

What Happens Next?

• Compliance Review: Our dedicated Compliance department reviews all blocked transactions individually daily.

• Notification: If your transaction is blocked, you will receive an email from our Compliance team, sent to the Owner account’s registered email address.

• Required Information: In the email, you will be asked to provide:
  A refund address to which the funds can be returned, and Identification documents (ID) from the sender.

Resolution Process

Each blocked transaction is unique and will be evaluated on a case-by-case basis. Typically, it is possible to refund the funds to the sender’s provided address once the required documentation is verified. However, please be aware that in some cases, a refund may not be possible due to regulatory requirements or the specifics of the case.

In certain situations, after a thorough investigation, the transaction may be unblocked and the funds credited as originally intended.

Important Guidance for Clients

• Communication: If you do not receive an email from our Compliance department within 5 business days of your transaction being blocked, or if you have any other communication issues, please contact our Support team for assistance.

• Direct Communication Preferred: We recommend maintaining direct contact with our Compliance team via the provided email, as this will generally lead to quicker and clearer resolution of your case.

Special Note on ID Documents

If the sender’s identification documents are not written in Latin characters, Compliance will require either a translation of the document or, at minimum, the sender’s name written in Latin characters. This helps us to process your case more efficiently and in line with regulatory standards.

If you have any questions or concerns regarding blocked transactions or the AML review process, please do not hesitate to reach out to our Support team or Compliance department. We appreciate your understanding and cooperation as we work together to keep your transactions secure.

Compliance email: compliance@coinsbuy.com
Support email: support@coinsbuy.com