KYC/AML

In order to protect our users from scams, theft of crypto assets, and other fraudulent/criminal activities, Robopay introduced several measures, including customer verification. We follow the industry standards and leverage one of the most efficient measures – KYC (Know Your Customer) and AML (Anti Money Laundering) procedures. They allow us to confirm that we work with a real person, and the corporate clients/businesses comply with all applicable laws.

Robopay has certain maximum limits of transactions that can be performed without personality verification. If a user deals with certain currencies or crypto assets, and the sum of the transaction exceeds pre-set limits, the KYC procedure is obligatory. That means transactions are canceled or put on hold until the user undergoes the process of verification. Such practice has proved to be efficient for the prevention of frauds, money laundering, scams, and so on.

Robopay reserves the right to require personality verification from certain users and in case of particular transactions with cryptocurrencies. More information about customer rights and responsibilities can be found in Robopay Terms and Services.

KYC or AML procedures are performed with the help of SUM & SUBSTANCE third-party identity verification service. It fulfills KYC/AML procedures on behalf of the Robopay service.

If a customer refuses or fails to undergo the process of personality verification, Robopay reserves the right to refuse transaction processing. The same applies to businesses that fail to prove compliance with AML requirements and practices. Also, Robopay has a zero-tolerance policy towards businesses and companies directly or indirectly involved in money laundering or obtaining money/resources by any illegal methods.

How are AML and KYC procedures organized?

In order to undergo KYC/AML procedure, a User should prove his identity by providing:

  • A quality photo of oneself holding their ID, or passport, or any other identity document valid in their country;
  • Proof of the funds' origin;
  • Other documents (particularly required for businesses).

Once the process of KYC/AML verification is completed, the user’s transactions will be processed.

The scans/photos should be quality enough to distinguish letters and the small photograph on the document. Please, note that Robopay and SUM & SUBSTANCE have a well-developed system of identification of deceptive documentation. If a user provides false information, Robopay reserves the right to investigate his transactions, which seem to be suspicious or risky.

If a user provides wrong, outdated, or deliberately deceptive information, Robopay has the right to terminate the Services and ban his account.

If you have any questions concerning KYC/AML procedure, contact Robopay team via [email protected]