Great Invest Company KYC / AML Procedure
Important: Financing is not allowed where prohibited by applicable Laws. U.S. Persons or persons regarded as having any U.S. Account(s) may not be Financing Recipients on the FlyHodler.Cloud (Site). Furthermore, the following Persons are prohibited from depositing to, withdrawing from, or providing or taking financing for any Account on the Site:
- Persons domiciled or ordinarily resident in, certain nationals of, or the Governments or Government Officials of Prohibited Jurisdictions;
- Any Person that resides, is located, has a place of business, or conducts business in the State of New York;
- U.S. Persons. Any individual who is a U.S. Person and, effective August 15, 2018, any entity that is a U.S. Person is prohibited from using the Site or any Services, including but not limited to digital tokens mining services using an Account on the Site.
Due Diligence Generally, Anti-Money Laundering and Counter-Terrorist Financing: Flymining is committed to providing safe, compliant, and reputable Services to identify, detect, prevent, and report on money laundering, terrorist financing, and other improper activities under applicable AML Laws, CTF Laws, Anti-Corruption Laws, and Economic Sanctions Laws. Accordingly, Flymining insists on a comprehensive and thorough user due diligence process implementation and ongoing analysis and reporting. By agreeing to terms of service, Client affirmatively certifies whether (i) he/she is a U.S. Person or his/her account would be regarded as a U.S. Account or (ii) he/she is not a U.S. Person and his/her account would not be regarded as a U.S. Account, and must provide promptly all information requested and necessary to satisfy due diligence requirements and obligations pursuant to applicable Laws and the compliance policies or procedures of Flymining. Additionally, Flymining may assess whether Client will make, or intend to make, a deposit, withdrawal, or transfer of Fiat or Digital Tokens to, from, or through any U.S. Financial Institution to facilitate the provision of the Services, and if applicable, Client must provide all information requested and necessary to satisfy due diligence requirements and obligations pursuant to applicable Laws and the compliance policies or procedures of Flymining. Client shall provide promptly documentation, information, or records requested by Flymining at any time, including, without limitation, a self-certification permitting the determination of tax residence and status under FATCA and under CRS or other applicable Laws. Such information may include, but is not limited to, self-certifications as to Controlling Persons. Flymining needs to retain certain information, documentation, and records on file pursuant to applicable Laws and its contractual relationships, and Flymining hereby expressly reserves the right to keep such information, documentation, and records. Additionally, Flymining monitors for and assesses suspicious or sanctionable transactions under applicable AML, Anti-Corruption, and Economic Sanctions Laws, as well as undertakes mandatory reporting to FinCEN, OFAC, FIA, and international regulators. These undertakings shall apply even when Client suspends or terminates his/her relationship with Flymining or abandons his/her application to have an Account with Flymining. Our policies apply to any and all Digital Tokens, Fiat, and other funds or property being stored on the Site by any of Client, Client’s Affiliates, of any of Flymining’s Associates.
Prohibited Use. If Flymining determines that Client has engaged in any Prohibited Use, Flymining may address such Prohibited Use through an appropriate sanction, in its sole and absolute discretion. Such sanction may include, but is not limited to, making a report to any Government, law enforcement, or other authorities, without providing any notice of Client about any such report; confiscation of any Fiat, funds, property, proceeds, or Digital Tokens in any account that Client has on the Site; and, suspending or terminating his/her access to any Services or Fiat, funds, property, or Digital Tokens from any Digital Tokens Address. Flymining may, at its sole and absolute discretion, seize and deliver his/her property to any applicable Government, law enforcement, or other authorities where circumstances warrant.
Refuse registration. Flymining reserves the right to refuse registration to, to bar transactions from or to, or to suspend or terminate the administration of Services for or with any user for any reason at any time, subject to any limitations imposed by applicable Laws. Without limiting the generality of the foregoing, this includes, but is not limited to, any transfer, transaction, business, or dealing with a: (i) Sanctioned Person, (ii) a Person from or in jurisdictions that does not meet international AML–CTF standards as set out by the FATF as high-risk, non-cooperative, and strategically deficient jurisdictions, including but not limited to the Democratic People’s Republic of Korea (North Korea), Ethiopia, Iran, Iraq, Serbia, Sri Lanka, Syria, Trinidad & Tobago, Tunisia, Vanuatu, or Yemen; (iii) Person that is a Government Official or Politically Exposed Person within the meaning of the FATF’s 40 Recommendations; (iv) Person that presents a risk of any exposure to penalties, sanctions, or other liabilities under AML Laws, CTF Laws, Anti-Corruption Laws, Economic Sanctions Laws, or tax Laws that may apply; (v) Person that Flymining determines is acting in the United States or Territory or Insular Possession of the United States (whether or not by, to, through, or from any U.S. Financial Institution) in violation of, causing any other Person, including any of the Associates, to violate, attempting or conspiring to violate, or evading or circumventing these Terms of Service or applicable Laws; and (vi) any Person that fails to meet any user due diligence standards, requests, or requirements of Flymining, or otherwise appears to be of high risk, including but not limited to any of the foregoing factors. In lieu of refusing registration or ongoing administration of Client’s Account, Flymining may perform enhanced due diligence procedures. At all times, Client may be subject to enhanced due diligence procedures in his/her use of the Site and any Service. If Client declines to provide requested due diligence information or otherwise does not reply timely or substantively with the documentation or data requested, the Site has the absolute discretion to suspend or terminate Services to Client immediately.Client Representations & Warranties. Client represent and warrant to Flymining as follows:
- that, if Client is an individual user, he/she is 18 years of age or older and that he/she has the capacity to contract under applicable Laws;
- that, if Client is registering to use the Site on behalf of a legal entity, (i) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; and (ii) you are duly authorized by such legal entity to act on its behalf;
- that Client understands the risks associated with using the Site, that he/she is not prohibited or restricted from using the Site by applicable Laws;
- that Client will not use the Site or any Services in order to conceal or disguise the origin or nature of proceeds of crime or terrorist financing, or to further, any breach of applicable AML Laws or CTF Laws, or to deal in any unlawful Digital Tokens, Fiat, property, funds, or proceeds;
- that Client will not use any Site Services with funds other than Fiat, funds, or Digital Tokens that have been legally obtained by him/her and that belong to him/her;
- that, to the extent not penalized by or in conflict with United States Laws, Client is currently in compliance with, and must, at his/her own cost and expense, comply with all Laws that relate to or affect the Services conducted under these Terms of Service, including but not limited to AML Laws, CTF Laws, Anti-Corruption Laws, Economic Sanctions Laws, or tax Laws, including FATCA and CRS;
- that Client consents to any and all tax and information reporting under AML Laws, CTF Laws, Anti-Corruption Laws, Economic Sanctions Laws, or tax Laws, including FATCA and CRS, as Flymining may reasonably determine;
- that neither Client nor any of Client’s Affiliates shall use any Digital Tokens, Fiat, property, proceeds or funds subject to the Services of the Site directly or indirectly (i) on behalf of or for the benefit of a Sanctioned Person or any Person subject to the jurisdiction of a Prohibited Jurisdiction, except where authorized under any Government Approval or not restricted by applicable Laws; (ii) in violation of or as prohibited, restricted, or penalized under applicable Economic Sanctions Laws; or (iii) in any way that would violate, be inconsistent with, penalized under, or cause the omission of filing of any report required under applicable AML Laws, CTF Laws, or Economic Sanctions Laws;
- that Client has not (i) violated; (ii) been fined, debarred, sanctioned, the subject of Economic Sanctions-related restrictions, or otherwise penalized under; (iii) received any oral or written notice from any Government concerning actual or possible violation by you under; or (iv) received any other report that you are the subject or target of sanctions, restrictions, penalties, or enforcement action or investigation under, any applicable Laws, including AML Laws, CTF Laws, Anti-Corruption Laws, or Economic Sanctions Laws;
- that neither Client nor any of Client’s Affiliates is: (i) itself or owned or controlled by a Sanctioned Person; (ii) involved in any transaction, transfer, or conduct, whether or not by using or receiving the Services from any Digital Tokens Wallet or Digital Tokens Address, that is likely to result in Client or Client’s Affiliates becoming a Sanctioned Person; or (iii) residing or domiciled in, or transferring Digital Tokens, Fiat, funds, or property to, from, or through any Digital Tokens Wallet, Digital Tokens Address, or other account in, a Prohibited Jurisdiction or Government or Government Official of a Prohibited Jurisdiction;
- that neither Client nor any of Client’s Affiliates has directly or indirectly offered, promised, given, or authorized any payment, or offered, promised, given, or authorized the giving of anything else of value, including any Digital Tokens, to a Government Official or individual employed by another entity in the private sector in violation of any applicable Anti-Corruption Laws;
- that Client will not falsify any account registration or administration details provided to Flymining;
- that Client will not falsify or materially omit any information or provide misleading or inaccurate information requested by Flymining in the course of, directly or indirectly relating to, or arising from Client’s activities on the Site or use of any Services, including at registration or during administration or other due diligence processes, and that if any information provided to Flymining becomes incorrect, Client will promptly provide corrected information to Flymining;
- that Client will fairly and promptly report all income associated with his/her activity on the Site pursuant to applicable Laws and pay any and all taxes exigible thereon;
- And that Client will accurately and promptly inform Flymining if he/she knows or have reason to know whether any of the foregoing representations or warranties no longer is correct or becomes incorrect.
The KYC/AML procedure. We consider it a safe and better business practice that is beneficial to all parties involved in the Flymining Services. Our KYC/AML procedure is powered by SumSub of Sum And Substance Ltd, a UK-based company delivering software and online services designed to reduce the risk of blockchain transactions, while supporting compliance needs for financial institutions and state regulators’ requirements. The Flymining KYC/AML procedure is a simple online procedure of identification enabling easy capture of an individual’s documents and biometrics via Photo ID selfie for identity verification.