AML/KYC Policy

1. Proof of Identification Any of the following I.D. is eligible for submission, provided that the documents contain the client’s full name, picture and date of birth. Should the document have an expiration date, the I.D. must be valid upon submission.
→ 1.1. Passport – Copy of the information page only
→ 1.2. National I.D. – Front and back copies
→ 1.3. Driver’s License – Front and back copies
→ 1.4. Student I.D., Military I.D., and any of similar – Front and back copies

2. Proof of Residence Document must not be older than three (3) months while the client’s full name, address, and the date issued must be legible. Utility bill, rental contract, and bank statement may be valid. Russian residents may use their I.D. as a proof of residence but a different I.D. must be submitted as Proof of Identification. One (1) I.D. cannot be submitted for the the different purposes of verification.

3. Credit Card Card copies must be submitted accordingly:
→ 3.1. If the card has its cardholder’s name, the first twelve (12) digits in front must be covered while only the last 4 digits of the card, cardholder’s full name and expiration date are visible. Back copy is also required, covering the CVV/CVC.
→ 3.2. If the card does not have a cardholder’s name, the first 6 digits and last 4 digits of the credit card must be visible upon provision of copies, while also showing the date of expiration. Back copy is also required, covering the CVV/CVC.

In any case that the client will use a credit card of a third-party, a Power of Attorney is required.

Money Laundering is the act and/or process of obtaining and procuring any funds in an illegal or fraudulent way. There are basically three steps involved in a Money Laundering activity, and these are: placement, layering, and integration.

As an attempt to curb such activities, GetBitcoin provides this AML policy to ensure that the Company will not be used for or affiliated with any money-laundering activities, or any schemes similar to it. GetBitcoin also ensures that the Company is geared toward the prevention of money laundering, terrorist financing, drug and human trafficking, corruption, bribery, and other similar illegal activities.

Other criminal activities that the Money Laundering entails are as follows: robbery, embezzlement or larceny, organized crimes, and drug smuggling.

GetBitcoin provides strict procedures and services to apprehend suspected or confirmed money laundering activities. The Company thus imposes strict and comprehensive personal information collection, and automated transaction monitoring.

Money Laundering is the act and/or process of obtaining and procuring any funds in an illegal or fraudulent way. There are basically three steps involved in a Money Laundering activity, and these are: placement, layering, and integration.

• The Money Laundering Reporting Officer or MLRO is appointed through the officer’s status of seniority. The MLRO’s job is to oversee the compliances of on-going and possible relevant legislation, regulations, rules and industry guidance;
• Instituting and preserving a Risk-Based Approach, or RBA, with respect to the assessment and management of money laundering threats to the company;
• Instituting and preserving risk-based customer due diligence, identification, verification, and the Know Your Customer procedures or KYC;
• The running of procedures for reporting fraudulent and suspicious activities are done internally and with the relevant law enforcement authorities;
• All appropriate records are submitted for maintenance on minimum prescribed periods; and
• All employees are trained and skilled in the Anti-Money Laundering Policies.

GetBitcoin does not deal with any individuals, private/public companies, and entities that are cited in the Anti-Money Laundering Council as a part of illegal activities or terrorist-related activities.

GetBitcoin’s Know Your Customer Policy, or KYC Policy, is utilized to mitigate and apprehend any illegal and fraudulent activities. The KYC Policy is a requirement for the maintenance and opening of Client accounts.

GetBitcoin’s Know Your Customer Policy, or KYC Policy, is utilized to mitigate and apprehend any illegal and fraudulent activities. The KYC Policy is a requirement for the maintenance and opening of Client accounts.

• The Company requires its Clients to provide reliable independent sources and documents that include details such as complete name, current residence, proof of transaction, and/or email address (International passport, bank statement, utility bill et cetera);

Whereas the Company reserves the right to:

• Collect such sources like document, data, and information for the KYC policy;
• Institute and preserve risk-based customer due diligence, identification, verification, and the Know Your Customer procedures or KYC;
• Deny or confirm the documents provided by the Client under stern scrutiny;
• Use all legal methods to guarantee that the documents provided are true and verifiable;
• Verify the document, data, and information on an ongoing basis, especially on the event were the documents, data, and information are changed or are suspicious;
• Require up-to-date documents from the Clients even after the initial processes have been passed;
• Collate, collect, and store the shared documents in compliance with the Privacy Policy and related regulations;
• Remove itself from any further liability that may occur in the event of an illegal activity;
• Accept or decline any payment cards in accordance with the Company’s stern discernment;
• Verify the Client’s identity through the analyzation of their transaction patterns;
• Rely on data analyzation and suspicion detection tools as risk-assessment;
• Perform variety of compliance-related tasks which includes data capturing, filtering, record keeping, investigation, and reporting;
• Monitor and check unusual and suspicious transactions;
• Alleviated of responsibilities for the potential risks that the Client may face;
• Decline and suspend transactions with lacking information from the Client; and
• Decline and suspend transaction if the information provided are deemed false or illegal.