Bitcoin ATM.com is committed to complying with all Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) legal requirements. This procedure is designed to ensure compliance with applicable laws and to protect our customers and the financial system as a whole from being used for illegal purposes.
The AML procedure applies to all persons using Bitcoin ATMs Bitcoin from Bitcoin ATM.com. Initiating a transaction implies acceptance of these rules, including the provision of necessary information and documents. We strive to make the verification process clear and as simple as possible for you, while maintaining the highest standards of compliance and security.
1. customer identification
When and why? Regardless of the amount of the transaction, we may require identification. In particular, the need will arise if you exceed the legal transaction limit or if you need to confirm your identity.
Screen Bitcoin ATM
How does it work?
If you exceed the specified limit, the Bitcoin ATM screen will prompt you to identify yourself and show an animation showing where on the device to scan the document.
You will be asked to scan a valid identity document issued by a government authority (e.g., ID card, passport, driver's license or residence card).
We will check the authenticity of the document and record basic data (name, surname, date of birth).
If we doubt that you are the actual beneficiary of the transaction, the screen may ask, "Is the transaction for your personal use?"
Yes: You continue the transaction.
No: We will display a request to contact our Customer Service Department to determine the actual beneficiary and purpose of the transaction.
AML Verification Process Diagram.
Step 1: Preliminary Identification
Scan of identity document Confirmation of personal information
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Step 2: Verification and Authenticity
Checking the validity of the document Making sure the customer is the right person
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Step 3: Check Sanction Lists and PEPs.
Verification of whether the customer is on sanction lists or PEPs
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Step 4: Enhanced Analysis (EDD) when in doubt
Possible additional documents and statements Contact Customer Service
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Step 5: Decision on the Transaction
Approval, rejection or additional monitoring of the customer
What if I refuse? Refusal to identify myself or failure to cooperate in this regard means cancellation of the transaction and possible temporary blocking of Bitcoin ATM.
2 Identity Verification
Continuous process Verification is done for every transaction, not just the first one. Each time, we make sure that the person is the same one who submits the identity document.
Examples of questionable situations We can stop a transaction if we observe:
Scanning the document in such a way that it cannot be read.
Use of an invalid, altered, or identity document belonging to another person.
Use of a document issued by non-state organizations.
If in doubt, we can ask for further clarification or refuse the transaction altogether.
3 Customer Acceptance and Risk Assessment
Once your identity is confirmed, we verify that we can accept you as a customer for the transaction. This includes verification:
Sanction Lists: We check whether the customer is on international sanction lists. If so, we must refuse the transaction, block Bitcoin ATM and notify the relevant authorities.
PEP (Politically Exposed Persons) List: If you are a PEP, we may require additional documents and management approval before proceeding with the transaction. In some cases, the transaction will be rejected.
Any confirmed entries on sanction lists or PEPs will result in the suspension of transactions, blocking of funds and, if necessary, reporting to the relevant authorities.
4 Enhanced Due Diligence (EDD)
What is EDD? EDD is used when a transaction appears suspicious, high-risk or unusual. This includes:
Very large or complex transactions without a clear economic purpose.
Customers behaving nervously, giving the impression of acting at someone else's behest (e.g., a phone call during a transaction).
Many small transactions on one day that can mask one large transaction.
Enhanced Discovery Process (EDD)
When a transaction raises suspicions, we use Enhanced Analysis to protect you and the rest of the community. Here's what that process looks like:
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Step 1: Detect Doubts
Bitcoin ATM signals disturbing behavior or unusual parameters of the transaction (e.g. very large amount).
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Step 2: Contact the Service Department
The customer is asked to contact the Service Department by phone or email to clarify the details of the transaction.
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Step 3: Additional Documents
The client provides evidence of the origin of funds (e.g., bank statements, contracts, crypto wallet history).
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Step 4: Compliance Officer Analysis
The Compliance Officer evaluates the documents, checks reliability and decides on next steps.
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Step 5: Final Decision
After analysis, the transaction can be approved, rejected or subject to further monitoring.
This process helps us ensure the safety of our clients and counter money laundering and other abuses.
What happens during the EDD?
Bitcoin ATM may stop the transaction and ask you to contact Customer Service.
We may request additional information or documents, such as confirmation of the source of funds (bank statements, PIT, contracts).
In certain cases, we will ask for a written statement to act on your own behalf.
Our Compliance Officer will analyze the data provided and decide on the further course of the transaction. Depending on the result of the analysis, the transaction may be allowed (with simultaneous monitoring) or permanently blocked.
Refusal to provide the required information or inability to explain the origin of the funds leads to rejection of the transaction and, if necessary, reporting to the relevant authorities.
5 Verification of Source of Funds
If a transaction exceeds certain limits or is perceived as higher risk, we will ask you to document the source of the funds. This applies to both the purchase and sale of cryptocurrencies.
Sample documents
When buying cryptocurrency: Tax returns, bank statements, pay slips, employment or service contracts, deeds.
When selling cryptocurrency: Transaction history from the cryptocurrency wallet, confirmations of previous purchases/sales in Bitcoin ATM, evidence of mining (mining) activity, evidence of transactions from cryptocurrency exchanges.
If the documents presented are questionable or incomplete, we will ask for additional clarification. Refusal to cooperate or inability to demonstrate the source of funds will result in the assignment of the highest risk level and rejection of the transaction.
6 Prohibition of Third Party Transactions
Transactions must be carried out solely on your own account. We do not carry out operations on behalf of third parties. In case of suspicion of so-called "money muling" (a person acting on behalf of others), we will assign the transaction the highest level of risk and, if necessary, inform the relevant law enforcement authorities.
7 Data Protection and Confidentiality
Your personal data, camera recordings and copies of documents are stored securely and in accordance with applicable data protection laws. While we respect your privacy, we must also comply with regulations for storing and sharing data with competent authorities when required by law.
8. contact with the Service Department and the Compliance Officer
If you have any questions, concerns or problems during verification, we encourage you to contact our Customer Service Department and Compliance Officer.
Summary
Bitcoin ATM.com makes every effort to prevent money laundering, terrorist financing and other illegal activities. These precautions may seem onerous at times, but they are necessary to keep our platform safe and compliant with the law. Thank you for your understanding and cooperation to help maintain trust and security.
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