We comply with the Anti-Money Laundering (AML) guidelines established by the Reserve Bank of India, vide it’s circular RPCD.RRB.RCB.AML.BC.No.02/07.51.018/2014-15 on 1 July, 2014 and updated from time to time. The guidelines include, but is not limited to, the following salient conditions:-
- For contributors on crowdkash.com, only standard channels of payment – verified credit or debit cards, netbanking, bank transfers, cheque, prepaid instruments such as wallets or Unified Payment Interface will be allowed.
- Recipients (campaign organisers, whether individuals or organizations) will comply with foreign exchange rules as explained by the Foreign Exchange Management Act of the RBI. Any failure to do so may result in cancellation of fundraiser, and refund of donations, to the cancelled fundraiser, to respective contributors.
Action by CrowdKash
Upon receiving knowledge of suspicious transactions or any breach of applicable law or this policy, CrowdKash may take one or more of the following steps:
- Probe into the incident;
- Report the incident directly to the appropriate government authority;
- Suspend or delete a campaign;
- Suspend or delete the user account(s);
- Other steps/actions that CrowdKash may deem appropriate.
Consequences of AML Policy Violations
Users agree that irreparable damage would occur to CrowdKash if any of the provisions of this AML Policy are not complied with. Accordingly, users agree that CrowdKash is entitled to claim damages from users for violating this AML Policy in addition to any other remedy to which they are entitled at law or in equity.
To the extent permitted under applicable law, CrowdKash shall have no liability in respect of any illegal transactions that take place on its platform. CrowdKash shall also not be liable for any consequences (monetary or otherwise) suffered by the stakeholders of a campaign or other users if it takes action (in its sole discretion) pursuant to this policy and applicable law.
Compliance & Co-operation
This policy must be complied with by the user in addition to the local laws applicable to the users in their home jurisdictions. Users agree that upon being requested by CrowdKash or its legal counsel or any government authorities they shall fully cooperate with them in any formal or informal inquiry, investigation or other proceedings. In this regard, users agree that they will promptly provide all information or documents they may possess relevant to the inquiry, investigation or legal action or proceeding without any demur and at their own costs.
AML policies will be updated time to time at the sole discretion of CrowdKash.