AML and KYC Policy
Why a standard card is opened with an email, and exactly when that stops being enough.
1. Our approach
CryptoCardex is operated by IZIPAY Solutions Group. We issue prepaid cards funded with cryptocurrency, and we take seriously the obligation not to let that service be used for money laundering, terrorist financing or sanctions evasion.
Our approach is risk based. That means we do not demand the same from everyone at the start, and we look harder where the risk is higher.
2. Why we do not ask for documents up front
A standard card is opened with an email address. We say this openly on the site and we mean it.
It is possible because of what the product is: a prepaid card you fund yourself, with limits, that cannot go negative and cannot borrow. The risk of a small prepaid balance is not the risk of a bank account, and the checks are set accordingly.
Not asking at the start is not the same as never asking. The next section says exactly when we do.
3. When we will ask for more
We reserve the right to ask for identification at any time, and we will ask when any of these happens:
- your turnover passes the threshold set for an unverified account
- our monitoring flags a pattern that does not fit normal card use
- you order a card with cash machine access
- a top up arrives from a wallet associated with a mixer, a sanctioned entity or known criminal proceeds
- our issuer, a card network, or a competent authority requires it
If we ask, we will say what we need and why. Until it is provided, the account may be limited to protect both sides.
4. Who we cannot serve
We do not open accounts for, and do not process payments for:
- residents of, or persons acting for, countries under comprehensive international sanctions, currently including North Korea, Iran, Syria, Cuba and the occupied regions of Ukraine
- persons named on international sanctions lists, and entities they control
- anyone who refuses to answer a lawful request for information when we are required to make one
Where a jurisdiction becomes sanctioned after an account is opened, we act on it from that date.
5. What we monitor
Every top up and every card transaction passes automated checks. We look for things that do not fit ordinary use: deposits broken into pieces to stay under a threshold, funds arriving from addresses with a known history, sudden changes in behaviour, and attempts to use one account for many people.
What is flagged is reviewed by a person before any action affecting you is taken, unless the law requires immediate action.
6. What we can do
Depending on what we find, we may ask for information, limit an account, freeze a card, close an account, or report the matter to the competent authority. Where the law prevents us from telling you that a report has been made, we will not tell you, and that is the law rather than a choice.
7. Records
We keep records of accounts, transactions and the checks we performed for as long as the applicable law requires, and we are able to produce them on a lawful request.
8. Compliance contact
Write to [email protected] with "Compliance" in the subject line. Requests from authorities should be sent to the same address and will be routed internally.