Anti Money Laundering Policy

1. Introduction

BitcoinGaps is committed to preventing money laundering and actively supports global efforts to combat financial crime, including money laundering, terrorist financing, and other illicit activities. This Anti-Money Laundering Policy outlines the company's commitment to comply with all relevant laws and regulations and sets forth the procedures and controls in place to prevent money laundering activities within our operations.

2. Legal Framework

BitcoinGaps operates in accordance with the local legislation, international standards, and regulatory requirements governing anti-money laundering and counter-terrorist financing. This policy takes into account laws such as the Anti-Money Laundering Act, the Financial Action Task Force (FATF) recommendations, and any other relevant regulations applicable to our business activities.

3. Risk-Based Approach

BitcoinGaps adopts a risk-based approach to prevent and detect money laundering. The company assesses the risk associated with different business activities, customers, and jurisdictions to allocate appropriate resources and tailor due diligence measures.

4. Customer Due Diligence (CDD)

To mitigate the risk of money laundering, BitcoinGaps implements appropriate customer due diligence procedures. This includes obtaining and verifying the identity of customers, assessing the nature and purpose of business relationships, and conducting enhanced due diligence for high-risk customers or transactions.

5. Know Your Customer (KYC)

BitcoinGaps maintains a robust KYC process to gather relevant information about customers, their beneficial owners, and the sources and purposes of funds. This ensures transparency and enables the detection of suspicious activities or transactions.

6. Reporting Suspicious Activity

BitcoinGaps has established a system for employees to report any suspicious activities, transactions, or behavior that may potentially involve money laundering or terrorist financing. Employees are encouraged to report their concerns to the designated AML Compliance Officer or appropriate regulatory authorities.

7. Employee Training and Awareness

BitcoinGaps recognizes that effective AML controls depend on well-informed employees. All relevant employees undergo regular training on AML policies, procedures, and the detection of money laundering activities. Additionally, BitcoinGaps maintains ongoing efforts to ensure employees are aware of their reporting obligations and the consequences of non-compliance.