What is AML?
AML (Anti-Money Laundering) is a set of mechanisms aimed at preventing the use of financial instruments and services for the legalization of illegally obtained income. This set of measures prevents a company from conducting any transactions with assets or cryptocurrency related to illegal or criminal activities.
Why have the funds not been credited to the EMCD wallet due to AML verification?
If your transaction was blocked after AML verification, it means that illegal sources were found in the transaction history from previous wallets on the blockchain. In addition, AML policies analyze connections between addresses, participant behavior in the network, and transaction activity history.
Even with a completely transparent history, an address may be marked as risky if it is linked to other addresses that were later involved in suspicious operations.
These systems operate automatically and are intergrated into our risk management process. We cannot manually interfere with their operation or bypass the verification result — this is important both for compliance with regulatory requirements and for protecting all clients. Therefore, unfortunately, we cannot guarantee the crediting of coins if at the time of receipt they are marked as high-risk.
This is not related to trust — we act according to a unified, transparent logic, the same for all clients, regardless of the hashrate volume or the amount of funds in the wallet.
The EMCD company cares about the integrity of its activities before the law, so we comply with AML legislation requirements applicable in this market segment.
According to the rules for handling such receipts, we must obtain additional information from you in order to make a decision regarding your transaction.
You need to complete the following actions:
Complete verification in the EMCD app (if it has already been completed, you do not need to do it again)
Send us the external wallet address for the refund to the email [email protected] (our wallet address will no longer be accepted).
The subject of the email must state: AML Refund
The email must be sent from the email address registered to the account.
You can review our AML policy at the following link.
Why did the funds withdrawn from the EMCD wallet not arrive at the external wallet due to a high AML policy risk assessment?
The risk assessment of certain cryptocurrencies or transactions is carried out by each individual exchange platform based on internal rules derived from AML policies. EMCD also has corresponding AML policies, and within their framework, the company monitors and controls the internal risk of the corporate environment and the cleanliness of client transactions.
Apparently, the exchange platform did not accept your transaction due to its own internal rules. This sometimes happens, and we cannot influence the decisions of other services. To minimize the risk of such situations, you can first send assets to another crypto exchange, and then transfer them to the exchange service you are interested in. In the vast majority of cases, this allows a transaction to be completed without any difficulties.
On our part, we carefully study the risks of related addresses and, if increased risk is detected, take the necessary measures to reduce it.
Why undergo identity verification for the return of funds that did not pass AML checks?
The EMCD platform complies with the requirements of AML legislation of the countries where we are registered as a legal entity. We are also subject to requirements on combating money laundering and terrorist financing.
As a result, these requirements oblige us to identify clients to whom any transactions assessed as high risk by the Compliance department and the internal security system have been sent.
We have a separate article about identity verification (KYC). You can read it at the link.
Why can a wallet address be considered "dirty" if no transactions with external wallets were conducted?
The AML tagging system is such that any transaction in crypto can be marked as risky post factum. Because of this, the risk will be spread to all wallets in the transaction chain. As a result, any of our payout addresses can become high-risk at some point, because at some time a certain number of our users received a post factum tag for their subsequent transactions, and further down the chain this risk affects our and your addresses.
Unfortunately, these are the current realities of the crypto world, where any changes in local AML policies impact all market participants.