AML and KYC Policy

  1. Anti-Money Laundering Policy
    1. Money laundering involves concealing the origin of funds and/or the identity of parties transferring or receiving them. We strongly oppose money laundering and take extensive measures designed to ensure that our services are used by legitimate Users only. Our Anti Money laundering policy and all its practical implications are aimed at combating money laundering by working to expose any such attempt, preventing its completion and taking legal action against the parties involved in said attempt. As elaborated on further down, we make certain to allocate adequate resources so that no money laundering attempt can ever go unnoticed.

  2. Advanced Security System
    1. Our platform is equipped with anti-money laundering security systems. The screening process of all users undergoes upon creating a new user account and to ensure that all users are genuine individuals on using our online Service in order to engage in legitimate activities using funds the origins of which are verified and traceable.

  3. KYC policy
    1. We take steps designed to ensure that users using our Service are genuine individuals. Anyone creating a new trading account is required to provide proof of identification as well as documentation showing that they truly reside at the address the details of which they provide us with.
    2. The Company is obliged to offer its services equally and without prejudice to all. In light of this, mentioned measures should not make it difficult for anyone who wants to become a registered user, open and manage an account.
    3. Upon registration the account, we ask that the following documentation be provided:
      1. Proof of Identity – Front and back colored copy of a valid ID card, (can be a passport, ID or a driver’s license) showing all 4 corners of the document, and the document must be valid for at least next three months;
      2. Proof of Residency – Utility bill (or gas/water/electricity/cable/land line) or a bank statement from the last 6 months, containing full name and address;
      3. confirmation of email address.
    4. Upon depositing funds into an account, we ask that the following documentation be provided:
      1. Copy of the card – Must be provided for any new credit/debit card that is used to make a deposit to the account. Front side colored copy – Showing only the last 4 digits and card holder name. Back side colored copy – Showing only last 4 card digits;
      2. Signed Declaration of Deposit. It may be sign in handwritten or by digital signature;
      3. Source of funds for deposits over 15 000 Euro or in equivalent;
      4. -Additional documents may be required such as Proof of wire transfer or crypto transfer;
      5. personal call to the client.
    5. Upon withdraw funds from the account (either through Withdrawal request or crypto request) a client must:
      1. verify his personal mobile phone;
      2. sign Declaration of crypto withdrawal (in case of crypto request).

        The KYC and AML processes are conducted by our Compliance team and in accordance with EU and Estonian Law.

  4. Bank Accounts and Money Transfers.

    Not only personal details are verified, bank account details, as well as credit card or any other, web sources, money transferring means used also undergo a screening process. We make it impossible to use our services with a dubious bank account and refrain from processing money transfer requests when the path of funds is unclear.
BitoBit is a trading name of Bit2Bit OU, registration number 14613172, registered address Harju Maakond, Tallinn, Lasnamae Linnaosa, Peterburi tee 47, 11415. The Company is an EU exchange regulated and licensed by the Estonian Ministry of Economics, The Financial Intelligence Unit (FIU) license numbers are FRK000475 and FVR000563. Risk warning: Cryptocurrencies are complex, high-risk, volatile and may result in the loss of all invested capital over a short period of time; they are not appropriate for all users. You must understand and acknowledge these specific characteristics and risks and be warned that there is no EU regulatory framework governing trading in cryptocurrency products. Investors are not entitled to any protection under the Investors’ Compensation Fund. Please read Terms&Conditions and Risk Disclosure Statement.
Copyright © Bit2Bit OU 2020. All Rights Reserved.
Close Menu