Buycoin sp. z o.o. ensures compliance with all applicable laws and regulations related to Know Your Customer (KYC) and Anti-Money Laundering (AML) policies. We take all necessary measures within our reasonable control to protect our clients from actions related to money laundering and other illegal activities.
Our KYC and AML policy includes:
- Drafting and regular updating of the KYC and AML Policy to meet international and national standards.
- Development of internal control procedures and transaction monitoring, including strict client identification methods.
- Informing competent authorities about suspicious transactions.
- Retaining documents confirming identity, address, and transaction records for at least 6 years.
- Training employees on relevant policies and procedures.
Verification Procedure:
Buycoin sp. z o.o. conducts mandatory verification of its clients identity, requiring one of the following documents to confirm identity:
- Government-issued international passport.
- Government-issued ID card.
- Government-issued driver’s license.
- Government-issued residence permit.
Buycoin sp. z o.o. reserves the right to request additional documents and communication details, such as:
- Proof of address (utility bill or bank statement not older than 6 months).
- Proof of payment method (photo of bank card or selfie with the card).
- Proof of source of funds and/or wealth.
- Phone number or other contact details for additional communication.
Transaction Monitoring and Control:
Buycoin sp. z o.o. continuously monitors transactions and reserves the right to suspend or terminate transactions if there are suspicions of illegal activity. We may request additional documents in case of identifying suspicious transactions or activities.
Use of Third-Party Services for Verification:
To ensure the accuracy and reliability of the provided data, Buycoin sp. z o.o. may use the services of independent third-party companies for:
- Verifying the client’s identity by comparing their data with information from external databases.
- Verifying the client’s address and place of residence.
- Verifying age and other details using document analysis and access to databases.
- Screening clients on politically exposed persons (PEP) lists and sanctions lists.
- Verifying the authenticity of identity documents.
- Assessing the client’s cryptocurrency transactions on compliance with the company’s AML policy.
Refusal of Service:
Buycoin sp. z o.o. reserves the right to refuse to provide service to clients who:
- Are on sanctions lists or are PEP.
- Provide inaccurate or incomplete information and/or documents
- Are suspected of using the service for illegal activities.
Countries Where Services Are Not Provided:
Buycoin sp. z o.o. does not provide services in certain countries and territories. The current list of these countries and territories is available in the “Countries Where Services Are Not Provided” section and may be updated accordingly.
Client Obligations:
- The client is required to provide accurate and up-to-date information during registration and verification.
- The client is required to promptly notify Buycoin sp. z o.o. of any changes to their personal information.
- The client acknowledges and agrees that their data may be processed and used in accordance with the company’s Privacy Policy.
Data Protection:
User identification information will be collected, stored, used, and protected strictly in accordance with the Buycoin sp. z o.o. Privacy Policy and applicable laws.