Because we are a regulated financial institution, it is very important that we maintain stringent KYC and AML standards. All our customers are verified by our Compliance team, checking for authenticity and relevancy of documents.
Depending on your jurisdiction and type of company, you will be asked to upload a variety of different documents to help verify your account. Our compliance team utilizes automated and manual techniques to verify the documents in line with global standards. If you would like to dispute your account verification decision, please contact [email protected].
The objective of Know Your Customer (KYC) guidelines is to prevent BFX from being used by criminal elements for money laundering activities. It also enables us to understand our customers and their financial dealings to serve them better and manage their risks prudently.
Criminals use money laundering to conceal their crimes and the money derived from them. Anti Money Laundering seeks to deter criminals by making it harder for them to hide the loot. Financial institutions are required to monitor customers' transactions and report on anything suspicious.
To this end, we need to collect various documents from our customers, which go through a rigorous verification process by our Compliance team. This is a combination of automated database checks and manual document checking.
If you have further questions about our verification process, please contact [email protected].