Anti-Money Laundering (AML) Policy

Objective of the AML Policy

We seek to offer the highest security to all of our users and customers on LuckyHash for that a verification is done to ensure the identity of our customers. A general KYC is done and we have advanced Anti Money Laundering checks in place. If needed, we will add additional KYC steps for clarification or further verification. The reason behind this is to prove that the details of the person registered are correct and the deposited values are not stolen or being used by someone else, which is to create the general framework for the fight against money laundering.

LuckyHash also puts additional measures in place to control, limit, and avoid ML risk, including dedicating the appropriate means.

LuckyHash is committed to high standards of anti-money laundering (AML) according to the EU guidelines, compliance and requires management & employees to enforce these standards in preventing the use of its services for money laundering purposes. We also take additional safety measures to handle the higher risk of cryptocurrencies.

AML Program Compliance

The AML program of LuckyHash is designed to be compliant with:

  • EU: "Regulation 2015/847 on information accompanying transfers of funds"
  • EU: "Directive 2015/849 of the European Parliament and of The Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering"
  • EU: Various regulations imposing sanctions or restrictive measures against persons and embargo on certain goods and technology, including all dual-use goods

Definition of Money Laundering

Money laundering is defined as:

  • The concealment of the origins of illegally obtained money, typically by means of transfers involving foreign banks or legitimate businesses. The concealment or disguise of the true nature, source, location, disposition, movement, rights with respect to, or ownership of, property, knowing that such property is derived from criminal activity or an act of participation in such activity;
  • The acquisition, possession or use of property, knowing, at the time of receipt, that such property was derived from criminal activity or from assisting in such activity;
  • Participation in, association to commit, attempts to commit and aiding, abetting, facilitating, and counseling the commission of any of the actions referred to in points before.

In addition, untaxed income, such as black money, shall not be accepted and reported to the corresponding government agency to ensure fair taxation and legal prosecution.

Money laundering shall be regarded as such even when the activities which generated the property to be laundered were carried out in the territory of another Member State or in that of a third country.

Sanctions and Screening

We utilize advanced screening systems to cross-reference customer information with global databases of persons and companies of political, criminal, or economic interest. This includes:

  • Sanctions lists
  • Lists of politically exposed persons
  • Known terrorist databases
  • Other relevant data sources for due diligence

Our dedicated compliance team performs these screenings as part of our KYC process. In the event of any matches or suspicious activity, appropriate authorities will be informed in accordance with our legal obligations.