AML/CFT & KYC

Last Updated: 7 Jun, 2020
AML refers to “Anti-Money Laundering”.
CFT refers to “Combating the Financing of Terrorism”.
KYC refers to “Know Your Customer”.

Introduction
Fighting the risk of scam and illegal activities, e-Gift.in (King Penguin Exim Pvt Ltd.) makes every effort to protect users and partners from fraud all the possible ways. For that, specific measures are taken to ensure customer verification and security of financial transactions. AML/KYC are considered to be one of the best methods to achieve this. This enables us in confirming that the customer is a law-abiding individual or corporation.
e-Gift.in has an automated risk scoring and risk prevention systems aimed to spot suspicious activity during operations. A transaction will be put on hold if the system flags it and the User will be asked to pass AML & KYC verification. For security concerns, we are not able to disclose the specific criteria of our system. However, our system is proven to be very effective against any money laundering and scam activities.
e-Gift.in reserves the right to enforce AML/KYC verification to certain users, addresses and transaction of particular payment directions. This application of e-Gift.in’s AML/KYC procedure is based on internal policies aimed at avoiding and diminishing the potential risks of being e-Gift.in unintentionally involved in the money laundering and other illicit activities.
We are informing you that e-Gift.in reserves the right to assign a Third-party service provider for the sake of carrying out the AML/KYC procedure. While information processing, the service provider abides by our Privacy Policy to ensure the privacy of your personal information.
e-Gift.in may share the information gathered in the AML/KYC procedure with the legal authorities by legitimate request.
e-Gift.in will never go for any agreement with an individual or entity alleged of or directly involved in money laundering or in which the funds sourced from illegal activities.


AML and KYC Procedure
AML/KYC procedure might be implemented to the transactions which are flagged as suspicious by our automated risk prevention system. In such cases, e-gift.in will contact the User via email registered with his/her account.
AML/KYC procedure includes confirming the identity of Users by means of:

  1. A high-quality photo of their ID (passport or driving license) valid in their country;
  2. Address proof (utility bill or bank statement)
  3. Proof of the origin of funds;
  4. Any other applicable documentation.

In response to e-Gift.in request for the User’s documentation, e-Gift.in shall take necessary measures to recognize deceitful documentation or any false information and reserves the right to carry out an investigation of certain users or transactions which were flagged to be suspicious.
The transaction will be executed only after the successful completion of the AML/KYC procedure.
In case the service poses any information, stating that a customer’s transaction/source address/destination address may be a subject of any fraud, money laundering or other suspicious activity, received by e-Gift.in from Law Enforcement agencies, regulatory authorities, legit legal entity, etc., e-Gift.in is entitled to not to conduct any activity with customer’s funds for the investigation period.


Disclaimer
e-Gift.in aims at providing quick and transparent service. e-Gift.in reserves the right to any changes or updates in the AML/KYC procedure at any time it deemed necessary without any notice, so we suggest User review it time to time.


Contact Us
For more information and queries regarding the AML/KYC procedure, please write to us at cs@e-gift.in