AML & Privacy Policy
Effective Date: [March-03-2025]
1. Introduction
A.K SMART TRADER PTY LTD (AKX.au) (ABN: 78 673 351 070) is a registered Digital Currency Exchange Provider with AUSTRAC (DCE100857628-001). We comply with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) and the Privacy Act 1988 (Cth). This policy explains how we collect, use, store, and protect your information while ensuring compliance with AML/CTF regulations.
2. Customer Due Diligence (CDD) & KYC
Before using our services, users must complete Know Your Customer (KYC) verification by providing:
– Individuals: Valid ID (passport, driver’s license) and proof of address.
– Businesses: Company registration details, shareholder agreements, and Ultimate Beneficial Owner (UBO) verification.
We may request additional documentation as needed.
3. Information We Collect & Use
We collect and use:
– Identity & Contact Data: Name, DOB, email, phone, address.
– Financial Data: Bank details, transaction history, cryptocurrency wallet addresses.
– Corporate Data: Business registration, shareholder details.
– Technical Data: IP address, device info, cookies.
We use this data for:
– Identity verification to comply with AML/CTF laws.
– Transaction monitoring to detect and prevent fraud.
– Legal compliance with Australian financial regulations.
– Platform security and improvements.
4. Transaction Monitoring & Reporting
We monitor transactions for unusual activity, including:
– Large, rapid, or structured transactions.
– Transactions linked to high-risk jurisdictions.
– Third-party payments (strictly prohibited).
Suspicious transactions will be reported to AUSTRAC as required by law.
5. Data Security & Retention
We protect your data using encryption, access controls, and fraud detection systems. We retain records for at least 7 years, in line with AUSTRAC requirements.
6. Sharing of Information
We do not sell your personal data. However, we may share information with:
– Regulatory bodies (AUSTRAC, law enforcement) for compliance.
– Third-party service providers for identity verification and fraud prevention.
7. User Rights & Choices
You have the right to:
– Access, correct, or request deletion of your data (subject to legal retention requirements).
– Opt out of marketing communications at any time.
8. Compliance, Enforcement & Account Termination
Failure to comply with our policies may result in:
– Account suspension or termination.
– Reporting to AUSTRAC and law enforcement agencies.
9. Changes to This Policy
We may update this policy, with changes notified via email or platform updates.
10. Contact Us
For inquiries, contact:
A.K SMART TRADER PTY LTD (AKX.au)
ABN: 78 673 351 070 | AUSTRAC Reg.: DCE100857628-001
Email: [admin@akx.au] | Website: [aKx.au]
By using AKX.au, you agree to this AML & Privacy Policy.