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Anti-Money Laundering(AML)

Legally, money laundering means the legalization of the proceeds of crime. In other words, missions that conceal the source of funds in order to legalize their nature.

PayPax policies

In order to prevent criminal activities and fight against money laundering and to prevent the financing of terrorism, PayPax limits the daily turnover of users to a certain amount by default, and after identifying the customer, these restrictions will be removed.
In addition, the following strategies have been considered to prevent criminal activities

Customer Identification

In order to prevent criminal activities or possible violations, we collect the details of our customers and provide full services only to customers who have completed the KYC order.

This information for personal accounts will include a valid ID card (ID card, certificate, passport) and for legal customers will include a company registration certificate or related activity from the government authorities of the country where you provide your service with valid approval.

In addition to the identity details, the customer must send documents confirming their location address to PayPax. These documents must adjust with the name of the customer and  haven't been expired more than three months. 

To increase the user level,  phone number verification is another method of customer authentication.
In the absence of LYC, daily withdrawal limits of $ 999 are set for each account; Until the necessary restrictions are applied to accounts without a specific identity.

Record transactions and customers networks logs

PayPax records all the information and activities of its customers' accounts. It records the amount of transfers between PayPax accounts, withdraw destination addresses,  the source address of deposits to its customers' accounts.

This information includes: account number or ID, account holder name (if any), amount, date and time of transaction, customer IP and customer browser information to be able to track the activities of a particular customer if necessary.

Monitoring Clients for Suspicious Activity

In addition to the Customer Activity Reporting System, PayPax monitors the movement of user accounts by programmed bots, so that in case of suspicious transfers or the distribution of funds between multiple accounts with the same origin or destination, risk customers will be announced to PayPax support Unit.
We request the following information from risk customers

  • the source of fund; 
  • the beneficial owners information; 
  • the customer’s (or beneficial owner’s) occupation or type of business; financial statements; 
  • banking references; 
  • domicile (where the customer’s business is organized); 
  • description of customer’s primary trade area and whether international transactions are expected to be routine; 
  • description of the business operations and anticipated volume of trading.

Acceptable Methods For deposit and withdrawal

We have used valid and acceptable methods to deposit and withdraw funds on PayPax.

Our deposit and withdrawal methods are usually in the form of other online payment systems, services such as WebMoney, Perfect Money, Payeer, which have their own KYC and AML processes to make the origin and destination of received funds as transparent as possible.

Transferring to the customer's bank account is also possible only to the account of the main account holder and within the framework of the central bank rules of the destination country.

According to the user account level, withdrawal and deposit in cash is possible only by the offices of our representatives and reputable partners and by presenting a valid ID card, filling in the form and signature of the depositor.

Partnership with government and security services of countries

PayPax is constantly improving its  AML  rules to deal with financial crimes and always has the right to restrict its customers' accounts in case of suspicious activity or notification by  the competent legal authorities.

PayPax is always ready to cooperate with the relevant government officials and institutions of the countries to deal with financial crimes against money laundering.


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