You” / “your” / “yours” / “customer” means a natural person who has opened an account on Paycot.com and has agreed to all terms and conditions of Paycot.com, and wants to use the Services available on the Platform.
“Paycot” means RENOBUILD GROUP SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ, a limited liability company (registration No. 0001025475) incorporated in Poland, address: EMILII SCZANIECKIEJ, No. 1, Apt./Office 15,kod 60-215, poczta Poznań, kraj POLSKA.
“Services” means the services provided by Paycot: 1) selling of cryptocurrency to the customer for fiat currency; and 2) buying cryptocurrency from the customer for fiat currency. Paycot does not provide the Services to corporate customers. Paycot does not act as custodian for your funds, both crypto and fiat.
In order to meet regulatory requirements for anti-money laundering and counter-terrorist financing, Paycot is obliged to perform various checks on its customers, including the identity verification, address verification and obtaining additional information regarding the purpose of transaction, activity on Paycot.com and source of funds / wealth.
Money laundering is the process of re-integrating illegally obtained funds into economic system by presenting them as legal and disguising their illegal source.
Terrorist financing is the direct or indirect support for people and groups internationally recognized as terrorists or connected to terrorists
Paycot strictly condemn the above-mentioned activities and does not provide the Services to those customers who are engaged or are suspected to be engaged in money laundering and terrorist financing.
As part of its anti-money laundering and counter-terrorist financing regime, Paycot performs the following activities:
Conducting due diligence and, if applicable, enhanced due diligence, to verify the customer’s identity, location and financial profile;
Ongoing monitoring of the customer’s activity to detect unusual or suspicious behavior;
Paycot starts to collect your Personal Information as soon as you begin to use the Services. As part of regulatory requirements, we may collect your:
Updating the existing policies and procedures to the extent that is necessary to meet regulatory requirements and effectively combat money laundering and terrorist financing;
Spending resources to support a dedicated team of specialists whose task is to manually inspect Paycot’s customers and ask them to provide additional information if necessary.
Paycot is not required to notify its customers if Paycot has any suspicions regarding their financial activity. Paycot is in the right to refuse providing the Services without explanation to customers that are under suspicion of money laundering and terrorist financing, refuse to provide the required documents to prove their source of funds / wealth or for other reasons if deemed necessary.
The platform of Paycot.com supports all documents that are considered legal identity document in the customer’s jurisdictions. The supported documentation include:
As part of the enhanced due diligence, Paycot may require the customer to provide additional documentation to prove their source of funds and source of wealth. The supported documentation include: