The Praxon Commitment to Risk Mitigation
At Praxon, we prioritise the safety and security of our platform and its users. We have implemented a rigorous risk assessment process to maintain the highest compliance standards and protect against potential risks. In cases where a customer is deemed at high risk, Praxon will take appropriate action to safeguard our services and the broader community.
Criteria for High-Risk Identification
The following features or circumstances are indicative of a high-risk profile and may lead to specific actions by Praxon:
- High-Risk Profile: When a client exhibits characteristics associated with a high-risk profile, Praxon may exercise caution and evaluate the situation further.
- Insufficient Identification: If a client’s identity cannot be adequately verified, Praxon may take precautionary measures.
- Sanctions Lists: Should a client’s name appear on any sanctioned lists, Praxon will assess the situation and take appropriate steps in line with regulatory requirements.
- PEP Status: Clients who are Politically Exposed Persons (PEPs), family members of PEPs, or close associates of PEPs are subject to enhanced scrutiny.
- Blacklisted Countries/Territories: Clients who are citizens, residents, or registered in countries or territories blacklisted by Praxon will face restrictions.
- Transaction via Blacklisted Financial Institutions: If the financial institution used in a transaction is situated in a blacklisted country or territory, Praxon may intervene.
- Ownership of Payment Methods: Clients must be the rightful owners/holders of bank accounts or credit cards used for our services.
- Incomplete Documentation: Failure to provide the required documents or answer necessary questions may result in further examination.
- Suspicion of False Information: When there is a reasonable suspicion that documents and data provided by a client are false or do not align with their profile, Praxon will investigate.
- Unidentified Beneficial Owner: In cases where the beneficial owner of a client cannot be ascertained, appropriate measures will be taken.
Please note that our commitment to risk mitigation aligns with regulatory requirements and is designed to maintain a secure and compliant environment for all users. Praxon reserves the right to take necessary actions, including withholding services or reporting to relevant authorities when identifying high-risk situations.
Your understanding and cooperation in these matters are greatly appreciated.
Contact Us
If you have questions about this High Risk Disclaimer, please mail us at Sofia 1797, Studentski District, 91B Metodi Andonov str., entr. A, ap. 14, Bulgaria.
You can also contact us:
- via phone: +35924373071
- via email at: support@praxon.io
- via this link: https://praxon.io/reach-us/