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Anti-Money Laundering (AML) Policy

Last Updated: March 04, 2026

Bitsbank is committed to the highest standards of Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) compliance. This policy outlines our approach to preventing the misuse of our platform for illegal activities.

1. Introduction

Money laundering is the process of concealing the origins of illegally obtained money. Terrorist financing involves providing funds for terrorist activities. Both are serious criminal offenses that Bitsbank is committed to preventing.

This AML Policy applies to all users, employees, and third parties associated with Bitsbank.

2. Regulatory Framework

Our AML program is designed to comply with:

  • Financial Action Task Force (FATF) recommendations
  • Applicable national and international AML/CTF laws
  • Know Your Customer (KYC) requirements
  • EU Anti-Money Laundering Directives (AMLD)
  • Sanctions compliance regulations
  • MoonPay's certified compliance framework for identity verification and payment method validation

3. Know Your Customer (KYC) Requirements

All users must complete identity verification, which includes:

3.1 Basic Verification

  • Full legal name
  • Date of birth
  • Email address verification
  • Phone number verification

3.2 Enhanced Verification

  • Government-issued photo ID (passport, driver's license, or national ID)
  • Proof of address (utility bill, bank statement dated within 3 months)
  • Selfie verification with ID document
  • Source of funds documentation (for high-value transactions)

4. Identity Verification via Certified Third-Party Provider

Bitsbank partners with MoonPay — a globally licensed cryptocurrency onramp and identity verification provider — to deliver robust, regulation-compliant KYC checks for users accessing FIAT withdrawal services. This partnership enables Bitsbank to meet its AML/CTF obligations while offering a streamlined verification experience.

4.1 MoonPay as a KYC Provider

MoonPay is licensed and regulated in over 150 countries and operates in full compliance with applicable AML, CTF, and KYC regulations, including FATF recommendations and EU AMLD directives. By completing identity verification through MoonPay, users satisfy Bitsbank's Know Your Customer requirements for the purpose of enabling FIAT withdrawals.

  • Government-issued photo identification is required during MoonPay's onboarding process
  • Liveness and biometric checks are performed by MoonPay's certified verification systems
  • Payment method ownership (bank card or bank account) is confirmed at the point of purchase
  • All verification data is processed and retained by MoonPay in accordance with their Privacy Policy

4.2 Payment Method Confirmation

When a user completes a cryptocurrency purchase through MoonPay using a bank card or bank account, this transaction constitutes verifiable proof of payment method ownership and source of funds. Bitsbank treats this confirmation as sufficient evidence to enable FIAT withdrawal services to the same payment method, subject to compliance review.

  • Identity confirmed: Full KYC performed by MoonPay's certified systems
  • Source of funds confirmed: Established through the verified purchase transaction
  • Payment method confirmed: Card or bank account used on MoonPay is validated as belonging to the verified individual

4.3 Data Access and Privacy

Bitsbank accesses only the minimum necessary information from MoonPay's merchant records to confirm verification status and associated payment method. Full identity documents and biometric data remain within MoonPay's secure systems and are not transferred to Bitsbank. Data sharing between Bitsbank and MoonPay is governed by applicable data protection regulations and limited to compliance-related purposes.

5. Transaction Monitoring

We continuously monitor transactions for suspicious activity, including:

  • Unusual transaction patterns or volumes
  • Transactions involving high-risk jurisdictions
  • Structuring (breaking up large transactions to avoid reporting)
  • Rapid movement of funds
  • Transactions with known illicit addresses

6. Suspicious Activity Reporting

We are obligated to report suspicious activities to relevant authorities. This includes:

  • Transactions that appear to involve proceeds of crime
  • Attempts to avoid KYC requirements
  • Unusual account activity inconsistent with stated purpose
  • Links to known criminal or terrorist organizations

7. Sanctions Compliance

We screen all users and transactions against:

  • OFAC (Office of Foreign Assets Control) sanctions lists
  • UN Security Council sanctions lists
  • EU sanctions lists
  • Other applicable national sanctions programs

8. Record Keeping

We maintain records of:

  • User identification documents
  • Transaction records
  • KYC verification results
  • Suspicious activity reports

Records are retained for a minimum of 5 years after the business relationship ends.

9. Training

All Bitsbank employees receive regular AML training covering:

  • Recognition of suspicious activities
  • KYC procedures
  • Reporting obligations
  • Regulatory updates

10. Risk Assessment

We conduct regular risk assessments considering:

  • Customer risk profiles
  • Geographic risks
  • Product/service risks
  • Delivery channel risks

11. High-Risk Activities

The following are considered high-risk and subject to enhanced scrutiny:

  • Large or frequent transactions
  • Transactions involving privacy coins
  • Users from high-risk jurisdictions
  • Politically Exposed Persons (PEPs)
  • Unusual transaction patterns

12. User Responsibilities

Users are required to:

  • Provide accurate and complete information
  • Update information promptly when changes occur
  • Not use our platform for illegal activities
  • Comply with all KYC requirements
  • Report any suspicious activity they observe

13. Consequences of Non-Compliance

Violations of this AML Policy may result in:

  • Account suspension or termination
  • Freezing of assets pending investigation
  • Reporting to law enforcement authorities
  • Legal action

14. Contact Information

For questions about our AML Policy or to report suspicious activity:

Email: info@bitsbank.cc

Compliance Officer: Bitsbank Compliance Team

15. Policy Updates

This policy is reviewed and updated regularly to reflect changes in regulations and best practices. Users will be notified of significant changes.