Anti Money Laundering Notice

1. What is the purpose of this AML notice?

The purpose of our AML Notice is to provide users of our platform with clear and comprehensive information regarding our approach to combating money laundering activities. Through this notice, we aim to address the most common questions and concerns users may have regarding our AML measures, ensuring transparency and understanding of our commitment to preventing illicit financial activities on our platform.

2. Why are we requesting KYC information from users?

Diamore Limited, as the proprietor of the marketplace, assumes responsibility for ensuring the security and integrity of our platform. Although not expressly mandated under anti-money laundering and counter-terrorism financing regulations, we remain steadfast in our dedication to safeguarding our users and preventing illicit activities within our services. In line with this commitment, we have chosen to request KYC information from our users. We appreciate your cooperation in this matter and assure you that our KYC procedures are designed to protect both you and the integrity of our marketplace.

3. In what cases should users provide KYC information?

Users are required to provide KYC information before placing a diamond in storage and before removing a diamond from storage.

4. Why is KYC information necessary for the storage and withdrawal of diamonds?

Firstly, it allows us to verify the identity of users, ensuring that they are genuine individuals and not fictitious entities. This verification process helps mitigate the risk of fraudulent activities such as identity theft and impersonation.

Secondly, KYC checks enable us to ensure compliance with regulatory requirements and sanctions lists. By verifying the identity of users against various databases, we can prevent individuals who are under sanctions or involved in illicit activities from accessing our platform. This helps uphold legal and ethical standards and prevents the platform from being exploited for unlawful purposes.

Furthermore, KYC information helps us maintain the integrity of our platform and protects the interests of all users.

In summary, KYC information is necessary for the storage and withdrawal of diamonds to verify the identity of users and mitigate the risk of fraudulent or illicit activities. It helps create a safe and trustworthy environment for all participants in the marketplace.

5. What KYC information is required from users?

Users are required to provide two key pieces of information for KYC purposes: a high-quality photo of their identification document (passport, national identity card, government-issued ID card) and proof of address.

Regarding proof of address, acceptable documents may include recent utility bills (e.g., electricity, water, or gas bills), bank or credit card statements, government-issued documents (e.g., tax statements or residency certificates), or official letters from recognized institutions. The document provided must display the user's full name and residential address, and it should be dated within the last three months to ensure its currency and accuracy.

6. Will merchants (diamond sellers) undergo KYB checks?

Absolutely, merchants (diamond sellers) will undergo mandatory KYB checks. They will need to furnish a comprehensive array of documents to our transaction processor, UAB Manimama Exchange. Notably, UAB Manimama Exchange is a Lithuanian entity holding a VASP license and is an obliged entity under the Republic of Lithuania Law on the Prevention of Money Laundering and Terrorist Financing.

It's essential to emphasize that UAB Manimama Exchange operates in strict adherence to its own robust AML Policy. Accordingly, every merchant will undergo a thorough verification process in accordance with this policy. Rest assured, no merchant will be left unverified, ensuring the highest standards of security and integrity on our platform.

7. How will my KYC information be handled and stored?

Your KYC information will be handled and stored with the utmost care and confidentiality. We strictly adhere to our privacy policy, ensuring that your personal data is processed and stored in accordance with industry-leading security standards. Rest assured that we take the protection of your information seriously and employ robust measures to safeguard it against unauthorized access, disclosure, alteration, or destruction. To know more please refer to our Privacy Policy.

8. Can I use the marketplace without undergoing KYC checks?

Yes, you can still utilize the marketplace without undergoing KYC checks. You are free to browse products and make purchases as usual. However, if you choose to store or withdraw diamonds, you will need to undergo the KYC procedure. It is mandatory for accessing these specific services. Without completing the KYC process, we will be unable to facilitate diamond storage or withdrawal.

9. Who is not eligible to use the platform and Diamore Services?

Individuals who are subject to sanctions, as well as residents or entities from sanctioned and high-risk countries, are not eligible to use the platform and Diamore Services. These countries include Afghanistan, Algeria, Belarus (except individuals holding a valid EU entry visa or EU residence permit), Benin, Burkina Faso, Cabo Verde, Cambodia, Central African Republic, China, Cuba, Crimea (region of Ukraine), Côte d'Ivoire, Congo, Democratic People's Republic of Korea, Dem. Rep. of Ethiopia, Dominican Republic, Donetsk (region of Ukraine), Eritrea, Federal Republic of Ambazonia, Ghana, Guatemala, Guyana, Guinea, Guinea-Bissau, Haití, Honduras, Iran, Iraq, Jamaica, Jordan, Kenya, Kosovo, Laos, Liberia, Lebanon, Libya, Luhansk (region of Ukraine), Mali, Morocco, Mozambique, Myanmar, Nicaragua, Nigeria, Northern Cyprus, Pakistan, Philippines, Russia, Senegal, South Sudan, Syria, Somalia, Sri Lanka, Trinidad and Tobago, Transnistria (temporarily occupied by Russia), territories of Georgia temporarily occupied by Russia (Abkhazia and South Ossetia), Uganda, Vanuatu, Venezuela, Yemen, and Zimbabwe.

10. Who should I contact if I have questions or concerns about KYC checks?

If you have any questions or concerns regarding KYC checks, please feel free to contact our dedicated support team. They are available to assist you and address any inquiries you may have regarding the KYC process. You can reach out to our support team through the email address support@diamore.co. Your satisfaction and peace of mind are our top priorities, and we are here to ensure a smooth and transparent KYC experience for all users.