Anti-money laundering (AML) is a broad term for laws and regulations put in place to prevent criminals from making money illegally or moving illicit funds. While many illegal activities are targeted by AML laws, some of the most important are tax evasion, public corruption, and market manipulation through methods such as wash trading.
StakeCube established its own procedures addressing the prevention of the use of the Union financial system for the purposes of money laundering and terrorist financing by including (but not limited to) the following terms:
- 24 hour withdraw limit: 1,000 EUR (one thousand Euro)
- Risk based transaction monitoring
- Establish and update internal policies and procedures required in accordance with existing laws and regulations
Identification and verification procedures
Individuals can be identified by passport or other legal documents issued by the state and utility bills stating their current post address.
A successful verification increases the 24 hour withdrawal limit to 10,000 EUR (ten thousand Euro).
Creating and/or using multiple accounts is strictly prohibited and will be treated with permanent suspension of all accounts.