AML Policy

Last update: October 15th, 2019


AURUS.IO Anti-Money Laundering and Know Your Customer Policy (hereinafter – the “AML/KYC Policy”) is designated to prevent and mitigate possible risks of AURUS.IO being involved in any kind of illegal activity.

AurusGOLD Limited offers a software as a service platform through („Aurus” or the „Service”) that allows people and companies to access the protocol, to tokenize bullion and transact it.

Aurus recognizes that decentralized and distributed digital currency and payment systems in which payments are processed and secured by advanced cryptography and distributed computing power instead of a central bank, corporation or government pose a risk of illegal uses (as do all financial systems). Aurus believes, however, that the legitimate use of math-based currency networks provide untold benefits and efficiencies within the global economy. Accordingly, Aurus has implemented this Policy and its accompanying AML Program to assess the specific risks posed by Aurus’ services and established specific controls to address those risks as required by law. It is Aurus’ policy to comply with applicable laws and regulations regarding AML and identity verification, and to detect and prevent the use of its Service for money laundering or to facilitate criminal or terrorist activities. While Aurus is committed to protecting its users’ privacy, it will not allow people to use its Services to launder money, commit fraud or other financial crimes, finance terrorist activities, or facilitate other illegal conduct.


AML/KYC Policy covers the following matters:

  1. Verification procedures
  2. Compliance Officer.
  3. Monitoring Transactions.
  4. Risk Assessment.

1. Verification procedures

One of the international standards for preventing illegal activity is customer due diligence (“CDD”). According to CDD, AURUS.IO establishes its own verification procedures within the standards of anti-money laundering and “Know Your Customer” frameworks.

AURUS.IO’s identity verification procedure requires the User to provide AURUS.IO with reliable, independent source documents, data or information (e.g., national ID, international passport, bank statement, utility bill). For such purposes AURUS.IO reserves the right to collect User’s identification information for the AML/KYC Policy purposes.

AURUS.IO will take steps to confirm the authenticity of documents and information provided by the Users. All legal methods for double-checking identification information will be used and AURUS.IO reserves the right to investigate certain Users who have been determined to be risky or suspicious.

AURUS.IO reserves the right to verify User’s identity in an on-going basis, especially when their identification information has been changed or their activity seemed to be suspicious (unusual for the particular User). In addition, AURUS.IO reserves the right to request up-to-date documents from the Users, even though they have passed identity verification in the past.

User’s identification information will be collected, stored, shared and protected strictly in accordance with the AURUS.IO’s Privacy Policy and related regulations.

Once the User’s identity has been verified, AURUS.IO is able to remove itself from potential legal liability in a situation where its Services are used to conduct illegal activity.

2. Compliance Officer

The Compliance Officer is the person, duly authorized by AURUS.IO, whose duty is to ensure the effective implementation and enforcement of the AML/KYC Policy. It is the Compliance Officer’s responsibility to supervise all aspects of AURUS.IO’s anti-money laundering and counter-terrorist financing, including but not limited to:

  1. Collecting Users’ identification information.
  5. Updating risk assessment regularly.


3. Monitoring Transactions

The Users are known not only by verifying their identity (who they are) but, more importantly, by analyzing their transactional patterns (what they do). Therefore, AURUS.IO relies on data analysis as a risk-assessment and suspicion detection tool. AURUS.IO performs a variety of compliance-related tasks, including capturing data, filtering, record-keeping, investigation management, and reporting. System functionalities include:

  2. Case and document management.
    With regard to the AML/KYC Policy, AURUS.IO will monitor all transactions and it reserves the right to:
    • suspend User’s Account when AURUS.IO has reasonable suspicion that such User engaged in illegal activity.


4. Risk Assessment
