BlueBit is committed to providing you with safe, compliant, and reputable Services. Thus, BlueBit insists on a comprehensive and thorough customer due diligence process and implementation, as well as ongoing analysis and reporting.
International regulators must be notified of suspicious transactions and be monitored for suspicious activity. By agreeing to our Terms, you acknowledge and understand that BlueBit maintains verification levels with level led permissions based on the information that users provide, our ability to verify it, and our internal policies. BlueBit reserves the right to determine, at its sole discretion, the appropriate verification level for any user, as well as the right to downgrade users at anytime without prior notice.
From time to time, BlueBit may implement policies that restrict verification levels based on nationality, country of residence, or any other factor. It may affect your ability to withdraw funds from your account, and you indemnify BlueBit against any loss associated with an inability to deposit and/or withdraw funds based on your verification level. At any time, BlueBit reserves the right to refuse registration to, bar transactions from or to, or terminate any relationship with, any customer.
By adhering to the St Vincent and the Grenadines AML legislation, BlueBit is preventing money laundering by ensuring that adequate systems and controls are in place to minimise the risk of the firm being used to facilitate financial crime. In this AML Policy, we outline the minimum standards to be followed, which include the following:
- The appointment of a Money Laundering Reporting Officer (MLRO) with sufficient seniority and independence and with responsibility for ensuring compliance with relevant legislation, regulations, rules, and industry guidance.
Establishing and maintaining a Risk Based Approach (RBA) to assess and manage money laundering risks and terrorist financing risks.
- Establishing and maintaining risk-related customer due diligence, identification, verification, and Know Your Customer (KYC) procedures, including enhanced due diligence for customers who present higher risk, such as Politically Exposed Persons (PEPs).
- Developing and maintaining risk-based systems and procedures to monitor on-going customer activity.
- Procedures for reporting suspicious activity internally and to the relevant law enforcement authorities as appropriate.
- The maintenance of appropriate records for the minimum prescribed periods.
- Training and awareness for all relevant employees.