7. AML/CFT and Know-Your-Customer (KYC) Policy

7.1. Know Your Customer (KYC) Policy:

7.1.1. XREX constantly verifies the individuals and organizations that use the Services. You agree to provide complete and accurate personal information (including your email, name, address, gender, phone number, nationality, date of birth, tax identification number or ID card number or passport number, a bank account in your name, and other registration and transaction information) to XREX and any third party appointed by us (including financial institutions and KYC service providers). These third parties may collect, process, or use this personal information within the specific purposes of their entrusted tasks (including to assisting XREX in verifying the authenticity of your bank account, compliance with laws, and adherence to AML/CFT requirements). Based on the results of these inquiries and reports, XREX and these third parties may take such measures as they deem fit.

7.2. AML/CFT Policy:

7.2.1. XREX constantly monitors transactions on the Site and any transactions via the Services, and XREX may suspend or block any transaction without prior notice to you if we have reasonable grounds to suspect that or you are a designated individual or entity as defined or set out in the Singapore Sanctions Laws, or that the transaction poses money-laundering, terrorism financing, or similar risks. In compliance with Applicable Laws, XREX will report to relevant authorities regarding any suspicious activities and transactions.

7.2.2. XREX will deny or suspend the Services to anyone refusing or unable to provide sufficient evidence of their identity and/or their source of funds, whose evidence XREX determined to be misleading, false, or otherwise unacceptable, or who is a designated individual or entity as defined or set out in the Singapore Sanctions Laws.

7.3. Disputes:

7.3.1. If XREX has reasonable grounds to suspect that you are a designated individual or entity as defined or set out in the Singapore Sanctions Laws, or that any DPTs in your XREX Wallet are stolen or otherwise are not lawfully possessed by you or which represent the proceeds of any illegal activity, we may, in our sole discretion, place an administrative hold on the affected DPTs until such time as the dispute has been resolved and evidence acceptable to XREX has been provided in a form acceptable to XREX. XREX will not involve itself in any such dispute nor in the resolution of such disputes. You agree that XREX has no liability or responsibility for any losses you may suffer arising from such hold, or from your inability to withdraw DPTs or Fiat Money or to execute transactions for the duration of any such hold.

7.4. It is your responsibility to keep your email address and mobile phone number on file with us up-to-date so that you can receive our electronic communications. If we send you an electronic communication but you do not receive it because your email address or mobile phone number on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic communications, we will nevertheless be deemed to have provided the electronic communication to you.

7.5. You can update your email address, mobile phone number, and residential address at any time by filing a support request at our Intercom chat or at [e-mail]. If your email address or mobile phone number becomes invalid such that electronic communications sent to you by us are returned, we may deem your account to be inactive, and you may not be able to complete any transaction via our Services until we receive a valid, working email address or mobile phone number from you.