The AML program is aimed at countering the legalization of finances at the international level and the sponsorship of terrorism. The company"s staff makes every effort necessary to maintain security in the process of exchanging electronic currency. Individuals and organizations that have not passed the verification, which includes several stages, are not allowed to operate. Only people with an impeccable reputation are allowed to perform exchange operations.

To exclude fraudulent actions, sellers / buyers undergo an identification procedure. The service manual requires the following data from customers:

1. A photograph of a foreign passport in an open form.
2. State passport.
3. Paid utility bill or bank statement. The term of the submitted documents should not exceed six months from the date of their issue. They are accepted in both paper and electronic form.
4. Driver"s license.
5. Photograph of a credit card.
6. Photograph of the printed declaration in handwritten form.

The last document in the list is needed to perform operations with large amounts. Additionally, you need to take a picture with an ID-card and a credit card. Only high quality and highly readable documents are considered. You will not be able to pass the identification procedure if you send fuzzy photos with blurry content. It is forbidden to knowingly change the truthful information. In this case, the request is rejected, and the site management will ask you to carry out the procedure again. It will be necessary to resend the previously specified list of documents in order to gain access to all the functions of the resource. The management is sympathetic to people who made a mistake by accident, due to inattention while reading the registration rules. You can always notify about the problem, find ways to solve it.

The AML procedure is a comprehensive preventive measure. When identifying a person, documents issued by state authorities are used. Management trusts only information obtained from trusted sources. It is almost impossible to forge the entire list of documents. Signatures, numbers containing a certain sequence of numbers, photographs and seals do not allow a person to hide information about himself. Information about the owner of the credit card is contained in open databases of the tax service.

Conducting a multi-level check, experts seek to find the full name in the joint black list of the EU. Brussels officials constantly impose restrictions on individuals and organizations for various violations. Company personnel are prohibited from cooperating in any way with entrepreneurs included in such lists.

Our cooperation is possible only with people who keep the law. If you provide incorrect, inaccurate or incomplete information, then you will not be able to make currency transactions. The desire to hide new information is regarded as a gross violation of the order. The punishment is instant blocking of the account. Having found signs of dishonorable actions, employees of the company terminate the relationship with a subsequent appeal to law enforcement agencies. Criminals deservedly punished, given the degree of their guilt.

Our staff checks repeatedly. All users are continuously monitored around the clock to identify possible fraudulent activities. Attention is paid, first of all, to atypical transactions with financial assets. The administration of the bitfondo.com resource has the right to stop operations at any stage if a hidden danger is revealed. Further verification is carried out taking into account the proposals of the interstate company FATF.

Data on the procedures performed with electronic assets are recorded in the archive. Authorized bodies can only access information after submitting a formal request or court order.

Our staff at any time can create a detailed check on interstate methods. In the process of verification, hazards are subject to assessment, an analysis of the actions of the user that aroused suspicion is carried out. If the slightest risk is identified, suspicious transactions are frozen and electronic assets are blocked. The interaction of the company with persons related to mafia structures, terrorists, money laundering is prohibited. bitfondo.com does not contact entrepreneurs who have been convicted of commercial offences. Users are required to report the source of income. If they receive their finances by any illegal method, then the cooperation is terminated.

Accounts of offenders trying to impersonate another person are deleted by the management of bitfondo.com. Our employees are required to report the actions of fraudsters to law enforcement agencies. If signs of violations are found, the staff submits the following data to the police: full name, email address, information about other contacts. In the event that the client cannot prove the source of income, he may be suspected. The police will follow him for a long time in order to achieve blocking of bank accounts and seizure of property. An attempt to deceive the service management can lead to a court verdict.

Fraudsters always have unusual ways to get around the restrictions, so bitfondo.com updates the digital system from time to time to increase the level of protection. Continuous and efficient activity allows decent users not to worry when conducting a cryptocurrency exchange. When new ways of countering criminals appear, the administration always offers to attend trainings for its employees, invites people who are well versed in the topic to them. Every year, the methods used to counteract people who want to legalize finances are improving.

Participation of the company in combating terrorist and fraudulent activities

When we do a full scan, we get a lot of data. The task is greatly simplified if we take data from information repositories in Europe, America and other sources that contain a list of famous scammers. Also useful are country reports compiled every month, interstate lists of people who fell under sanctions. The management finds the best option for verification, and then asks for a set of documents. The company may request additional information. All completed transactions are carefully analyzed to identify possible fraud.

Users report violations of domestic laws or international regulations prior to account verification. The duration of operations depends on the characteristics of the particular case. Having identified a minor flaw, users are given the opportunity to update the data. In case of a categorical refusal to comply with the requirements, the account is blocked without the possibility of recovery. The management writes a statement to the address of residence of the user convicted of fraud. An attempt to mislead and provide false data during verification leads to a trial and a prison term.

Only law-abiding people calmly register and use the cryptocurrency exchange services around the clock. In case of difficulties, you can always turn to qualified employees for help.

Functions performed by the company"s clients

1. Before using the service, you must confirm that you are not a high-ranking official in your state and an important figure, do not have close relatives who have a significant impact on political processes. This condition is extremely important. Close people: sisters, brothers, grandfathers, grandmothers, nephews and citizens with whom you currently live.
2. You need to confirm that you are the beneficiary of the company or the owner of the funds.
3. When carrying out the procedures, you will act solely on your own behalf. You will not represent the interests of entrepreneurs or several persons. In case of any changes, you undertake to notify the manager in writing by e-mail as soon as possible.
4. A promise is made to use the exchange service only for legitimate transactions. You must not be involved in cyberterrorism, fraudulent real estate, organizing illegal migration, the development of pornography among children, drug trafficking, endangered exotic animals, weapons and ammunition. Your activities are not aimed at supporting opponents of religious beliefs, illegal trade, neo-Nazis, pedophiles, hackers or other various non-social components.

The owners of the service remind users of the importance of studying the rules of internal law before starting work. For example, regulatory authorities can severely punish an entrepreneur for organizing gambling without special permission. The gaming business owner is prohibited from using the services.

All future users are required to confirm the information that they do not participate in videos of films of obscene and erotic content, as well as videos that promote violence, call for military action, offend people based on racial differences and cause rejection among different social strata and religions.

AML and KYC exchange service procedure

The AML and KYC (“Know Your Customer”) procedure, hereinafter referred to as the “AML/KYC Procedure”, is used in our organization. It is directed against the legalization of money, to reduce the danger associated with the participation of the organization in any illegal operations.

Bitfondo.com is a website with a complex structure, an international cryptocurrency exchange service. Bitfondo.com fully complies with the AML / KYC Procedure, which allows you to prevent illegal actions for money laundering and the spread of terrorism, and exclude participation in illegal actions.

The goal of Bitfondo.com is to provide a high quality service to its users while identifying and addressing the potential dangers associated with money laundering. AML/KYC provisions are an effective way to stabilize the operation of the crypto-currency industry, to strengthen the trust relationship between the parties involved in business relations.

Normative acts of interstate and local significance determine the need for specific measures within the organization that most effectively prevent the dangers associated with the legalization of money, the spread of terrorist activities, drugs, illegal weapons, bribery, and human trafficking. This condition is observed in order to take timely measures in case of detection of illegal operations carried out by users.

The following issues are included in the AML/KYC program:

• an employee exercising control and supervision;
• assessment of potential hazards;
• personal identification mechanisms;
• control over operations.

Worker conducting control and supervision

The employee who controls and monitors the established requirements is authorized by the organization to take certain actions to ensure an effective process that respects the principles of the AML / KYC Procedure. The employee is obliged to correctly follow all the recommendations of the organization aimed at countering the legalization of money and the spread of terrorist activities. The employee has the right:

• collect data necessary to identify the user;
• develop and improve the rules of the internal policy of the organization and the mechanism of actions that depend on the completion, consideration, provision and storage of important reporting, records, which is determined by the law and standards of functioning;
• monitor ongoing operations, investigate deviations from standard procedures that have arisen;
• to implement mechanisms that help manage records, for the possibility of convenient storage and withdrawal of necessary documents, files;
• periodically update the system for assessing possible hazards;
• if necessary, provide law enforcement agencies with data corresponding to the adopted regulatory documents and legal acts.

An employee conducting control and supervision conducts business relations with special departments, the scope of which is the prevention of money laundering, the spread of terrorism and other illegal activities.

Assessment of potential hazards

On the basis of international requirements, the organization adopted a certain mechanism against the legalization of finances and the spread of terrorism. The mechanism contains an assessment of potential hazards. By applying it, the organization ensures the proportionality of measures aimed at preventing or mitigating the consequences of money laundering and the detected dangers. Thus, the distribution of resources is the most rational. For more danger, more attention is given.

Identity verification schemes

Bitfondo.com strictly follows the law of the state in which the company is located. Because of this, for users of the service, completing the two-step verification process is a must. At the first stage, the user"s email address is checked. If the procedure is successful, the maximum amount for daily withdrawal of money increases to 10 thousand dollars or the amount relative to all types of electronic money available on bitfondo.com according to the current exchange rate. At the second stage, the identity and place of residence of the user are verified. After successful confirmation, the user will be able to withdraw 100 BTC or the equivalent in the cryptocurrency used on the service, at the currently established exchange rate.

To implement this procedure in accordance with the AML/KYC Procedure, the user must provide:

1. An identity document characterized by reliability, validity, independence, containing the following data: full name, date of birth, photograph, document series. The user may choose to submit:

• Passport.
• Foreign passport.
• Driver license.

An important point: documents are accepted as identification if they contain data with Latin transliteration.

2. A document confirming the place of residence of the user during the last quarter. In such a situation, the user presents:

• a certified lease agreement or an extract from a credit institution;
• paid utility or electricity bills;
• declaration of payment of tax liabilities;
• other documents containing the current address where the citizen lives during the last quarter of the current year.

A significant nuance: documents are accepted as certifying the address if the data presented in them has a Latin transliteration.

3. Selfie, where in the photo the client himself holds a sheet of paper with the name of the service and the date.

The Company will take specific steps to confirm the truth of the information provided by the user. To do this, legal methods will be used, including two-level data verification. If there is doubt about the identity of the user, the organization has the right to refuse interaction.

The company continuously checks the user"s identity, especially if the client"s actions are suspicious or atypical. The company has the right to re-request documents for verification.

Personally identifiable information is collected, stored, shared and protected based on the Organization"s Nonproliferation Principles.

If the company cannot verify the truth of the data due to the fact that the user did not present them, it may prohibit him from registering on the resource and refuse further business relations. This applies to situations where the operations carried out by the user may have a negative impact on the activities of the organization due to their illegality or violation of significant rules specific to the field of activity and situations in which prohibitions were imposed on the person at the interstate level.

Occasionally, the company may refuse to do business with users living in certain states and localities due to the FATF"s "High Hazard and Other Controlled Jurisdictions" regulations and the company"s policy to control potential hazards. This can apply both to new users registering on the resource, and to partners. In this case, preliminary notifications about the inability to use the service are sent.

Operations control

The organization obtains the required data about users by verifying their identity and examining their work (operations patterns). Information analysis is a tool for assessing potential hazards. For these purposes, many tasks are implemented to control the execution of the required actions: data collection, sorting, documentation, investigation of suspicious transactions, reporting. System functions:

1. Users are constantly checked, taking into account the aggregation of transfers regarding specific information points, internal communications are sent out, documents of the established form are filled out for reporting, and investigations are initiated if necessary.
2. All documents are under control.

The AML / KYC program has the right to study all data received from users, track the transactions they carry out. For this reason, the competence of the policy:

• control the transfer of notification of suspicious transactions to the authorized bodies by the employee of the company;
• require the user to present additional papers if there is any doubt about the legality of his operations;
• temporarily stop or block, deprive the user of the opportunity to continue to carry out transactions if there are suspicions of their illegality.

This list is not exhaustive. An employee who complies with company policy monitors operations to detect suspicions in a timely manner and notify law enforcement.

Registration on the resource means an agreement to adhere to all without exception the conditions established by the Principles AML/KYC. Following the AML/KYC Principles is an important part of the conditions under which the resource is used.