KYC/AML Policy
Last updated: 4th April, 2024.
In order to comply with the Money Laundering and Terrorist Financing Prevention Act of Lithuania, with amendments from 14 July 2022, requirements of EU AML Directives and best Anti-Money Laundering/Countering the Financing of Terrorism practices, the Utrg, UAB has developed and implemented the AML/CFT Rules, including Know your customer and transaction monitoring procedures which are aimed to reduce the risk of being involved in any kind of illegal financial activity. The Company's management deems the task of complying with AML/CFT regulations to be of great importance, thus ensuring that the requirements of those Rules are met with the highest accuracy

You have an opportunity to perform crypto exchange transactions in the amount limited to the equivalent of EUR 700.00 by simply registering the account using the Company's website or widget. In this case, relevant data is gathered, and appropriate anti-fraud controls will be applied to you. If you exceed this limit or the Company management deems it necessary to receive additional information about your transactions –we will ask you to pass KYC verification.
Nevertheless, depending on the service you want to use, we may require you to pass KYC verification to perform the transaction regardless of its amount. Thus, the issuance of the Utorg Card is possible only after your Identity Verification is passed successfully.

Strict verification procedures were developed in order to prevent the use of stolen identities or other illegal activity, which may facilitate money laundering or terrorist financing.
To pass identity verification, you must provide personal information, including your residential address and upload documents that support the provided data. Generally, a driver's license, a passport, a residence permit or a national ID card should be provided for this purpose. A recent proof of address should also be attached to confirm your place of address.
During the KYC verification procedure, the Company is guided by a risk-based approach, so additional information regarding the nature of business relationships and the source of your funds may be requested from you.
All the information you provide is thoroughly checked, both automatically and manually, to confirm the authenticity of the documents.
The Company does not offer its services to individuals or legal entities under sanctions, including, but not limited to, the UN, EU, or OFAC sanctions lists.

The company's AML/CFT measures were developed to prevent money laundering and terrorist financing on the platform.
Compliance officers maintain the policy by applying a risk-based approach while monitoring the transactional activity.
Our monitoring system automatically analyzes all transactions on the platform for suspicious patterns. If your transaction or your activity raises suspicion, an appropriately trained Compliance officer investigates the case. Compliance officers have the right to suspend transactions or reject providing you with any service at the time of the investigation.

Your data is always processed in accordance with the Company's Privacy Policy.
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