AML and KYC Policy

1. Why this policy exists

JBEX never handles money: traders pay each other directly. People can still try to use a marketplace like ours to launder money, finance crime or get around sanctions. This policy explains what we do to stop that, and what we expect from you.

2. Knowing who our traders are

• Everyone must verify their identity before publishing an order, bidding or accepting a bid.
• Verification asks for a government-issued identity document and a live selfie. During the pilot our Compliance team reviews every application by hand.
• The name on the account must match the document. One person may hold one account.
• If an application is rejected you can try again or ask for a manual review. We may ask for more information at any time, for example about where the money in a deal comes from.

3. Who may not use JBEX

• People and organisations subject to sanctions, and anyone acting for them.
• Anyone in a country or region where we do not offer the service (the list is to be confirmed before launch).
• Anyone acting on behalf of someone else without telling us, or using an account that is not their own.

4. Payments

We expect each payment to come from an account in the paying trader's own name. A payment from someone else, an amount that does not match the deal, or a receipt that looks altered can be a sign of fraud: we may pause the deal and ask questions.

5. Watching for misuse

We look out for patterns that suggest misuse, such as one person behind several accounts, people trading with themselves, unusual amounts or frequencies, fake receipts, and chats that push a deal off JBEX. When we see them we may ask for information, pause deals, or restrict, suspend or close accounts.

6. Reporting to the authorities

Where the law requires it, we report suspicious activity to the competent authorities and share our records with them. The law may forbid us from telling you that a report was made.

7. Records

We keep identity and deal records for as long as anti-money-laundering law requires, even after an account is closed (the period is to be confirmed before launch).

8. Questions

If you have a question about this policy or a request from us, contact us.