Terms and Conditions

Network transaction fees

As with nearly all virtual currency transactions, a transaction fee may be added by the network to the payment amount of our Invoice in your selected virtual currency. This fee covers the cost of verifying virtual currency transactions. Please be informed that we do not possess any control over this fee and do not receive any portion of the said transaction and/or any administrative fee charged by the network.

Transactions are final

Upon confirmation of your payment of our Invoice in your selected virtual currency, you will not be able to cancel your payment and/or transaction. Once the virtual currency transaction is made, you will not be able to cancel it. This is inherent in the nature of virtual currency networks, not a policy of our firm.

Unsuccessful payments, overpayments and/or underpayments

In the event your payment of our Invoice in your selected virtual currency is unsuccessful or there is an overpayment of our Invoice in your selected virtual currency, you will be automatically refunded the payment of our Invoice in your selected virtual currency. Any overpayment of our Invoice will be refunded to you within fourteen (14) days from the satisfaction of our refund-verification procedure as set out in Clause 6.1 below. A refund may be made in either Ringgit Malaysia or in a virtual currency of the firm’s choice and at the firm’s sole discretion less any transaction and/or processing fees incurred in making the refund. The refund amount and the applicable conversion rate shall be calculated on either the date of your payment of our Invoice or the date of the refund is made at the firm’s sole discretion. Any request for refunds to be made to you in any other fiat or virtual currency and/or any other payment mode will not be entertained.

In the event there is an underpayment of our Invoice in your selected virtual currency, the payment for the Invoice will be accepted but not regarded to be paid in full and shall be deemed as partial-payment to our Invoice. In such event, you shall make a further payment of the balance of the Invoice upon our written notice to you. In this regard, the calculation and/or conversion of the balance payment from fiat currency to your selected virtual currency may be changed and/or updated. We are not responsible for the real-time exchange rates in respect of the calculation and/or conversion of the payment amount from fiat currency to your selected virtual currency.

In the event there is a payment made by you without any valid Invoice and/or payment made in error, you shall submit a written request for a refund and such refund shall be subject to the sole discretion of the firm and to our refund-verification procedure as set out in Clause 6.1 below. For the avoidance of doubt, any refunds, which shall be made in either Bitcoin Cash or Ringgit Malaysia, shall be made at the firm’s sole discretion. The refund amount and/or its conversion rate less any transaction and/or processing fees shall be calculated on either the date of your payment of our Invoice or the date of the refund made to you, in which shall be at the firm’s sole discretion. Any request for refunds to be made to you in any other fiat or virtual currency and/or any other payment mode will not be entertained.

Refunds

Refunds of payments made for our Invoice and/or to us for any reason whatsoever shall be requested by way of a written notice to us by you. In compliance with the obligations and rules and regulations of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities 2001 (“AMLA”), refunds will be made subject to the satisfaction of our refund-verification procedure, which includes but is not limited to you providing to us the following documents:

• Your full name;
• Your date of birth;
• Your address;
• A copy of your National Registration Identification Card and/or Passport;
• A copy of your bank card used for the relevant transaction; and
• A copy of the relevant Invoice to which the overpayment and/or false payment was made.

Upon satisfaction of our refund-verification procedure, the requested refund will be credited back to the debit or credit card used for the relevant transaction. Any request for refunds to be made to you in any other currency and/or any other payment mode will not be entertained.

In the event our refund-verification procedure is not satisfied, the requested refund will not be credited back to the debit or credit card used for the relevant transaction. In such event, we reserve the right to cooperate with the relevant authorities in investigating claims of any illegal activity including, but not limited to, any illegal transaction, illegal activity and/or money laundering based on any transaction by you to us that raises any reasonable suspicion and we are required by law to promptly report any suspicious transactions to the relevant authorities pursuant to section 14 of AMLA.

Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (“AMLA”)

We are committed to the standards of anti-money laundering under AMLA in order to prevent the use of our services for money laundering and/or terrorism financing purposes. The requirements set out below are the minimum regulatory requirements created to prevent our partners and clients from any misuse of these services for money laundering or any other financial crimes. 

Under section 13 of AMLA, we are obliged to keep a record of any transaction, which shall include, but not limited to, the following:

• The identity and address of the person in whose name the transaction is conducted;
• The identity and address of the beneficiary or the person on whose behalf the transaction is conducted, where applicable;
• The identity of the accounts affected by the transaction, if any;
• The type of transaction involved, such as deposit, withdrawal, exchange of currency, cheque cashing, purchase of cashier’s cheques or money orders or other payment or transfer by, through, or to such reporting institution;
• The identity of the reporting institution where the transaction occurred; and
• The date, time and amount of the transaction.

You agree that any and all information provided to us by you shall be treated as being true and correct. You shall indemnify us against all losses, expenses, costs and/or damages incurred in connection with and/or in relation to information provided that is untrue and incorrect. 

Standard identification data and documents required include but is not limited to the following:

• Your full name;
• Your date of birth;
• Your citizenship;
• Your address;
• A copy of your National Registration Identity Card and/or Passport; and
• A copy of your bank card used for the relevant transaction.

You acknowledge that due to the obligations and rules and regulations provided under AMLA, you shall promptly provide us further identification and documentation deemed necessary and appropriate for the purposes of verification of your identity and source of funds used to make the payment of our Invoice in compliance with any rules and regulations of AMLA.

We reserve the right to cooperate with the relevant authorities in investigating claims of any illegal activity including, but not limited to, any illegal transaction, illegal activity and/or money laundering based on any transaction by you to us that raises any reasonable suspicion and we are required by law to promptly report any suspicious transactions to the relevant authorities pursuant to section 14 of AMLA.

For the purpose of ensuring that there is an audit trail to assist in any financial investigation by any relevant authority, our record-keeping policy and procedure shall cover records in the following areas:

• Records on all clients including but not limited to identification and verification information;
• Records on all transactions in relation to our Invoice(s); and
• Reporting any suspicious transactions and/or activity reports.

For the avoidance of doubt, “transaction” includes any attempted transaction or proposed transaction.

Contact Us

Should you have any queries on the above Terms and Conditions, please do not hesitate to contact us at the following:

• Email: finance@mahwengkwai.com
• Telephone: 03 7887 2702
• Post: Level 10-1, Tower B, Menara Prima, Jalan PJU 1/39, Dataran Prima, Petaling Jaya, 47301 Selangor Darul Ehsan, Malaysia