AML & KYC Policy

AML & KYC Policy
1. Introduction
    GenX is committed to preventing money laundering, terrorist financing, and other illicit activities through its platform. This Anti-Money Laundering (AML) and Know Your Customer (KYC) Policy outlines the measures we take to comply with legal and regulatory requirements. By using GenX, you agree to comply with this policy and provide the necessary information for AML and KYC purposes.

2. Objectives
    The objectives of GenX's AML and KYC Policy are to:

- Ensure compliance with applicable AML and KYC laws and regulations.
- Prevent the use of GenX for money laundering and terrorist financing.
- Identify and verify the identity of our customers.
- Monitor and report suspicious activities to the relevant authorities.

3. Customer Identification Program (CIP)

3.1. Account Registration
    To create an account on GenX, users must provide accurate and complete information, including:

- Full name
- Date of birth
- Nationality
- Residential address
- Email address
- Phone number

3.2. Verification Process
    As part of our CIP, GenX requires users to undergo a verification process that includes:

- Submission of a valid government-issued identification document (e.g., passport, driver's license).
- Proof of address (e.g., utility bill, bank statement) dated within the last three months.
- Additional documentation or information as deemed necessary by GenX.

3.3. Enhanced Due Diligence (EDD)
    For high-risk customers or transactions, GenX may conduct Enhanced Due Diligence (EDD), which may include:

- In-depth background checks
- Source of funds verification
- Ongoing monitoring of transactions

4. Transaction Monitoring
    GenX continuously monitors user transactions to detect and prevent suspicious activities. We utilize automated systems and manual reviews to identify:

- Unusual or large transactions
- Transactions to or from high-risk jurisdictions
- Patterns indicative of money laundering or terrorist financing

5. Reporting Obligations
5.1. Suspicious Activity Reports (SARs)
    GenX is obligated to report any suspicious activities to the relevant authorities. Suspicious activities may include, but are not limited to:

- Transactions that appear to be structured to avoid reporting requirements
- Unusual or unexplained large transactions
- Transactions involving entities or individuals on sanctioned lists

5.2. Record Keeping
    GenX maintains records of customer identification, transactions, and communications for a minimum period of five years, or as required by applicable law. These records are kept confidential and will only be disclosed to regulatory or law enforcement authorities as required by law.

6. User Responsibilities
6.1. Accurate Information
    Users must provide accurate and complete information during the account registration and verification process. Failure to do so may result in account suspension or termination.

6.2. Compliance with Laws
    Users must comply with all applicable laws and regulations related to AML and KYC. Engaging in illegal activities or attempting to use GenX for such purposes will result in account termination and may be reported to the relevant authorities.

6.3. Reporting Suspicious Activities
    Users are encouraged to report any suspicious activities or security breaches to GenX's support team at support@genx.com.

7. Privacy and Security
    GenX is committed to protecting the privacy and security of user information. All personal data collected for AML and KYC purposes is handled in accordance with our Privacy Policy and applicable data protection laws.

8. Changes to the AML & KYC Policy
    GenX reserves the right to update or modify this AML and KYC Policy at any time. Users will be notified of any changes through our website. Continued use of GenX after any modifications indicates acceptance of the updated policy.

9. Contact Us
    If you have any questions or concerns about this AML and KYC Policy, please contact us at support@genx.com.