AML Policy

Anti-Money Laundering and Terrorist Financing Policy and Know Your Customer Policy

The Anti-Money Laundering, Terrorist Financing Prevention Policy and the Know Your Customer Policy (hereinafter referred to as the "Policy") are designed to prevent and reduce the possible risks of BitHash_bot being involved in any illegal activity.

In order to comply with international and local regulations, BitHash_bot implements effective internal procedures and mechanisms to prevent money laundering, terrorist financing, drug and human trafficking, proliferation of weapons of mass destruction, corruption and bribery and to respond in case of any form of suspicious activity on the part of its Users.

“Money laundering (money laundering)” should be understood as “the transfer or transfer of property, knowing that such property is obtained from criminal activity or from participation in such activity, in order to conceal or mask the illegal origin of property or to assist any person involved in the commission of such activities in order to evade the legal consequences of his actions.

"Financing of Terrorism" should be understood as "the intentional provision or collection by any means, directly or indirectly, of funds with the intent to use these funds or on the condition that they be used to carry out acts of terrorism."

To combat money laundering (AML) around the world, more and more burdensome laws and regulations are being passed. While AML laws and regulations vary by country and region, they often share commonalities, including the need to develop policies and procedures and invest in technology to combat all forms of financial crime.

The policy includes the following sections:

Verification procedures;
The role of the head of the corporate regulation and control department (hereinafter referred to as the "Responsible Official");
Transaction Monitoring;
Risk Assessment;
Country of residence.

Verification Procedures

To help combat terrorist financing and money laundering, the Law requires all financial institutions to obtain, verify and record information identifying each individual or entity that opens an Account. We are required by law to ask you to provide your name, address, date of birth and other information about you, your organization or persons associated with your organization that will allow us to identify you before we approve your Account. We may also ask you to provide certain identification documents, such as your driver's license or passport or your organization's founding document, and may obtain your credit history and other consumer records to verify your identity and determine if you meet the opening criteria. We have accounts.

By applying to open an Account with BitHash_bot, you agree to provide the information and documentation requested by BitHash_bot and consent to BitHash_bot receiving your credit history and other consumer reports about you for the purposes described above.

The BitHash_bot Customer Due Diligence Procedure requires Users to provide BitHash_bot with valid, independent source documents to identify them and to verify their address of residence. Such documents may include, for example, a national ID card, international passport, bank statement, utility bill. For these purposes, BitHash_bot reserves the right to collect the identification information of Users for the purposes of complying with the Policy.

BitHash_bot will take steps to verify the authenticity of documents and information provided by Users. BitHash_bot will also verify identity information through secondary sources, and BitHash_bot reserves the right to continue investigating cases where Users are not satisfied with the documentation provided.

BitHash_bot reserves the right to monitor the User's data on an ongoing basis, especially when his identification information has been changed or his activity seemed suspicious (unusual for a particular User). In addition, BitHash_bot reserves the right to request up-to-date documents from Users, even if they have been authenticated in the past.

User identification information will be collected, stored, shared and protected strictly in accordance withPrivacy PolicyBitHash_bot and related rules. The User agrees that if any information provided in the application for opening an Account changes, ceases to be true or becomes materially misleading (including, without limitation, ownership of the Account) - in such case, the User will notify BitHash_bot of such changes.

After verifying the identity of the User, BitHash_bot may refuse to provide the Services to the User in a situation where it is suspected that the BitHash_bot Services are being used to conduct illegal activities.

BitHash_bot has a regulatory requirement to verify the source of Fiat money and/or Cryptocurrency in order to know that the sources of Funds used by Users for trading are legitimate. BitHash_bot will need to confirm the source of the Funds: this can be a bank statement for Fiat money or a video showing wallet transaction details for Cryptocurrencies.

Users who intend to use payment cards for the purpose of consuming services must pass card verification in accordance with the instructions available on the BitHash_bot website.

BitHash_bot uses independent third parties for the following purposes:

checking Users against lists of politically exposed persons (PEP) and sanctions lists, and checks for unwanted media.
evaluation of the User's Cryptocurrency wallets for investigation and compliance with AML requirements.

BitHash_bot reserves the right to close or reject Accounts based on information obtained by third parties, including Users connected to "high risk" wallets.

Responsible Official

The Responsible Officer is the person who has been duly authorized by BitHash_bot and whose duty it is to ensure the effective implementation and enforcement of the Policy. The duty of such a Responsible Official is to control all aspects of BitHash_bot's activities to counter the legalization of proceeds from crime, the financing of terrorism, including, but not limited to, the following methods:

collection of user identification information;
establishing and updating internal policies and procedures for completing, reviewing, submitting and maintaining all reports and records required by applicable laws and regulations;
monitoring transactions and investigating any significant deviations from normal activities;
implementation of a records management system for the appropriate storage and retrieval of documents, files, forms and logs, regular updating of the risk assessment system, provision of law enforcement agencies with the information required in accordance with applicable laws and regulations.

The Responsible Officer is the contact person of BitHash_bot when interacting with law enforcement agencies in order to prevent money laundering, terrorist financing and other illegal activities.

Transaction Monitoring

BitHash_bot users must go through the BitHash_bot identity verification process (determining who you are) before trading. After the verification is completed, the User consents to the monitoring of transactions, and BitHash_bot analyzes the User's transaction patterns (what they do).

BitHash_bot relies on data analysis as a risk assessment and suspicious activity detection tool. These tools perform many compliance tasks, including data collection, filtering, record keeping, investigation management, and reporting.

In accordance with the Policy, BitHash_bot will:

monitor all transactions. BitHash_bot reserves the right to ensure that reports of suspicious nature of transactions are reported to the appropriate law enforcement authorities through the Responsible Officer;
request from the User any additional information and documents in case of suspicious transactions;
suspend or terminate a User's account if BitHash_bot has a reasonable suspicion that such User is engaging in illegal activities.

However, the above list is not exhaustive and the Responsible Officer will monitor User transactions on a daily basis to determine whether such transactions should be reported and treated as suspicious or should be treated as bona fide.

Risk Assessment

To meet its Anti Money Laundering (AML) and Counter Terrorist Financing (CTF) obligations, BitHash_bot conducts an annual AML risk assessment. The purpose of the AML risk assessment is to prevent criminals from using BitHash_bot to launder money by highlighting the risks and evaluating the controls put in place by BitHash_bot. A risk-based approach is used to identify Users and track how they use our Services.

The Responsible Officer is responsible for financial crime risk management and making improvements to financial crime risk management by identifying the general and specific money laundering risks BitHash_bot faces, determining how those risks are mitigated by BitHash_bot's AML controls, and determining the residual risk that remains for BitHash_bot.