1.1 This Anti-Money Laundering (AML) Policy aims to protect against attempts to use this platform for illegal or illicit purposes. The purpose of this policy is to represent Mr Merkel's commitment to detect and report attempts to use the service to launder money, finance illegal activities or to commit fraud. For the purpose of these terms and conditions, money laundering is defined as:
(a) Where the identity of proceeds of crime is disguised or where the entity of an individual is disguised in order to give the appearance of legitimate income.
1.2 While Mr Merkle is committed to our users’ privacy, we will not allow the platform and its Services to launder money, commit fraud or other financial crimes, finance terrorism, or facilitate any illegal conduct.
1.3 Currently, the services provided by Mr Merkle are unregulated in Australia. Mr Merkle will comply and uphold any and all applicable laws and regulations in respect of AML and identification verification (know your customer / KYC procedures). Mr Merkle will actively attempt to detect and prevent its Service from being used to launder money or for illegal activities. As stipulated in this policy.
1.4 This is done through the clear identification of all users of the platform.
1.5 Account transactions are monitored for suspicious activity, including changes to account behaviour and amounts traded.
1.6 If any suspicious activity is identified, verification of funds, their creation and user identification will be required before transactions can continue.
1.7 Identification required in order to comply with this policy are 100 points of identification. The required documents comply with the standards of the Australian police: http://www.police.vic.gov.au/content.asp?Document_ID=34472