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AML / KYC Policy

AML / KYC Policy

AML / KYC Policy

Introduction
The Official BlockchainBankCoin Wallet Anti-Money Laundering and Know Your Customer Policy (hereinafter – the “AML/KYC Policy”) is designated to prevent and mitigate possible risks of the Official BlockchainBankCoin Wallet being involved in any kind of illegal activity.

Both international and local regulations require the Official BlockchainBankCoin Wallet to implement 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 take action in case of any form of suspicious activity from its Users.

Important information.
The Official BlockchainBankCoin Wallet shares values of a decentralized Internet and personal privacy is the basis of this philosophy. We do not need or want any information about the identities of the people using the Official BlockchainBankCoinWallet to deliver our service. Even in the case of Help Center inquires, users are identified only by anonymous ID, which doesn’t consist of any personal data.

AML/KYC Policy covers the following matters:

  • Verification procedures
  • Identity verification
  • Card verification


1. Verification procedures
One of the international standards for preventing illegal activity is customer due diligence (“CDD”). According to CDD, Official BlockchainBankCoin Wallet’s partners (https://www.simplex.com/ and https://changenow.io/, not Official BlockchainBankCoin Wallet itself) establishes verification procedures within the standards of anti-money laundering and “Know Your Customer” frameworks.

2. Identity verification
In rare cases, providers of Buy crypto and Exchange features (https://www.simplex.com/ and https://changenow.io/) can require the User to provide them with a reliable ID. Please note: Official BlockchainBankCoin Wallet itself didn’t collect any personal users’ data. To know more, check our Privacy Policy.

Official BlockchainBankCoinWallet’s partners reserve the right to verify User’s identity during the Buy Crypto or Exchange processes, according to their policies: https://www.simplex.com/terms-of-use/, https://changenow.io/faq/kyc-aml-procedure.

3. Card verification
Users who are intended to use payment cards to buy cryptocurrencies have to pass card verification in accordance with instructions available on the Guide. We guarantee that we didn’t collect or store this data. Therefore it can’t be sold or shared with any kind of third party.