AML policy

Bit-Market Policy - to combat money laundering and know your client (hereinafter - "AML / KYC") is intended to prevent and reduce possible risks to be involved in any type of illegal activity.

Both international and local regulatory norms require Bit-Market to implement effective internal procedures and mechanisms to prevent money laundering, terrorist financing, drug trafficking and people, the spread of weapons of mass destruction, corruption and bribery, and take action in case of any suspicious form The activity of their users.

AML means "opposition to the legalization of money obtained by criminal way." KYC means "Customer Identification".

We strive to protect our users from fraudulent actions in the field of crypto assets. It is possible that certain cryptocutives are used for fraud or any other criminal activity defined by law. To prevent this, you need to take steps to ensure the customer and security of financial transactions. One of the best measures is the AML / KYC procedure, which allows us to confirm that you are a law-abiding physical or legal entity.

Bit-Market has a risk assessment system that can detect suspicious activity. If the transaction is marked with the system, it is suspended, and the user is invited to check the AML & KYS. For security reasons, we cannot reveal the specific criteria of our system, but it turned out to be very effective against money laundering, fraudsters, etc.

Bit-Market reserves the right to apply the AML / KYC procedure to specific users, addresses and specific transactions with cryptoactives. The application of the AML / KYC procedure is based on the internal policy of Bit-Market and is aimed at preventing and reducing the possible risks of Bit-Market's engagement in money laundering processes, as well as any other illegal activity.

We inform you that the Bit-Market service reserves the right to assign a third-party service provider to perform the AML / KYC procedure on behalf of Bit-Market. When processing your information, such a service provider fully complies with our Privacy Policy regarding your personal information.

Bit-Market can send information collected during the AML / KYC procedure to the competent authorities for the legal request.

Bit-Market will not enter into business relationships with a physical or legal entity suspected or directly related to money laundering, or the funds of which were the source of illegal activities.

The AML / KYC procedure can be applied to those payments of cryptoactive, which are determined by our automatic risk prevention system that are suspicious. In this case, Bit-Market will contact the user by email registered in the account.

The AML / KYC procedure includes the confirmation of the personality of the user by: high-quality photos of their identity card valid in their own country; Any other applicable documentation.

In response to the Bit-Market request to provide the user documentation, Bit-Market takes all possible measures to recognize false documentation, and reserves the right to investigate certain users or transactions that were discovered as risky or suspicious.

After successfully completing the AML / KYC procedure, the transaction will be implemented.

In the event that the user refuses to go through the AML / KYC procedure, the transaction will be rejected, and the cryptoaculation will be returned to where they come from, minus any applicable fees. After that, Bit-Market blocks the user account and will enter the address of the wallet (exceptions can be applied to the address of the trusted service). This user account will no longer have the right to use Bit-Market.

Bit-Market continues to work on fast and transparent updates of procedures that can be provided to our email users and other ways as well as on our website.

If you have any questions about the AML / KYC procedure, please contact us