Last updated 28 February 2026
Bitsbazar is committed to preventing the use of its platform for money laundering, terrorist financing, fraud, and other illicit activities. This Anti-Money Laundering (AML) and Know Your Customer (KYC) Policy outlines the procedures and controls implemented by Bitsbazar to ensure compliance with applicable laws, regulations, and global standards.
This policy applies to all users, employees, partners, and affiliates who interact with the Bitsbazar platform. Bitsbazar adheres to internationally recognized AML compliance frameworks including recommendations issued by the Financial Action Task Force (FATF) and other applicable regulatory authorities.
The purpose of this policy is to:
Bitsbazar implements a risk-based AML compliance framework which includes:
These measures are designed to maintain a secure and compliant trading environment.
To access certain services on the Bitsbazar platform, users must complete identity verification procedures. Users may be required to provide:
Bitsbazar may use third-party verification services to confirm user identity.
Enhanced Due Diligence may be required for users considered higher risk. This may apply to:
EDD procedures may include:
Bitsbazar applies a risk-based approach to AML compliance. Each user account may be assessed based on factors such as:
Accounts identified as high-risk may be subject to additional monitoring and restrictions.
Bitsbazar monitors transactions on the platform to detect suspicious or unusual activity. Monitoring includes:
Transactions that trigger risk alerts may be temporarily delayed, reviewed, or blocked.
If suspicious activity is detected, Bitsbazar may:
Users may not be notified if a suspicious activity report is filed where prohibited by law.
Users are strictly prohibited from using the Bitsbazar platform for activities including but not limited to:
Bitsbazar reserves the right to freeze accounts or assets involved in prohibited activities.
Bitsbazar complies with applicable international sanctions laws and regulations. The platform may restrict or prohibit access to users located in or associated with sanctioned jurisdictions or entities. Users appearing on sanctions lists maintained by global authorities may have their accounts suspended or terminated.
Bitsbazar maintains records of customer identity information and transaction data in accordance with regulatory requirements. Records may include:
These records may be retained for a minimum of five (5) years or longer if required by law.
User accounts may be periodically reviewed to ensure compliance with this policy. Bitsbazar may request updated verification documents at any time. Failure to comply with verification requests may result in:
Bitsbazar cooperates with regulatory agencies, law enforcement authorities, and financial intelligence units when required. The company may provide user data or transaction information in response to:
Bitsbazar maintains internal compliance procedures including:
These measures ensure the platform operates according to regulatory expectations.
Bitsbazar reserves the right to modify this AML & KYC Policy at any time to reflect:
Updated policies will be published on the Bitsbazar website. Continued use of the platform constitutes acceptance of the updated policy.
For questions regarding this AML & KYC Policy, please contact:
Bitsbazar Compliance Team
Email: compliance@bitsbazar.com
www.bitsbazar.com
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