AML Policy
HODLER P.C, a Greek private company with business ID 166546201000 (the “Company” or “us” or “we” or “ours”) offers the website https://www.bitvalve.com and the related mobile applications and services (collectively, “BitValve”) to individual users ("you" or “user”). The Company’s Anti-Money Laundering (“AML”) policies and procedures are designed to deter illicit activities on BitValve and protect the users from exploitation by criminals.
The Company is under the supervision of the Special Unit for the Prevention of Money Laundering & Terrorist Financing of the Greek Capital Market Commission (H.C.M.C).
The Company is registered as a Provider of Exchange between virtual currencies and fiat currencies and as a Custodian Wallet Provider in the Register kept by the Hellenic Capital Market Commission (H.C.M.C), according to Article 6(1)(B) of Law 4557/2018.
As part of the Company’s Compliance policies, Know Your Customer (“KYC”) policies and procedures for individual and institutional customers have been designed to enable the Company to form a reasonable belief that it knows the true identity of those of its customers for which such review has been performed. The policy applies to all users of BitValve and is followed by all of the Company’s employees, consultants, officers, owners and directors. Moreover, to further reduce the risk of money laundering, the Company only allows personal account registrations and not Corporate/Business.
Every user of BitValve is obliged to proceed to the following K.Y.C Levels, depending on the trade volume:
| KYC Level | Verifications needed | Transaction Limit |
|---|---|---|
| Level 1 | Email Verification | 1000€/year |
| Level 2* | National Identity or Driving License or Passport or Residence Permit | 15000€/year |
| Level 3 | Utility Bill or Contract Lease or Bank Statement or Phone Bill or Tax Report | 300000€/year |
| Level 4 | Live Video Call | 1000000€/year |
We file SARs if we know, suspect or have reason to suspect suspicious activities have occurred on our platform. A suspicious transaction is often one that is inconsistent with a user’s known and legitimate business, personal activities or personal means. We proceed and conduct reviews and investigates suspicious activity to determine if sufficient information has been collected to justify the filing of a SAR. We also maintain records and supporting documentation of all SARs that have been filed.
The Company has adopted ongoing European Union (EU) sanctions policies and procedures designed to protect BitValve from being used for prohibited transactions, by sanctioned individuals or for the purposes of evading, avoiding or otherwise circumventing EU and global sanctions.
The Company also scrutinizes its customers against the OFAC sanctions list, taking all necessary measures to prevent any involvement in transactions with sanctioned individuals or entities. Additionally, the Company conducts thorough screening of deposits and withdrawals, with particular attention paid to any Cryptocurrency addresses identified on the OFAC sanctions list.
The Company continuously monitors and implements the latest FATF (Financial Action Task Force) recommendations and guidelines such as the jurisdictions that have strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing. Users from the below countries are subject to enhanced Due Diligence.
Below is the list of Jurisdictions under Increased Risk and Monitoring:
High-Risk Jurisdictions:- Myanmar
- North Korea
- Iran
- Bulgaria
- Burkina Faso
- Cameroon
- Croatia
- Democratic Republic of the Congo
- Haiti
- Kenya
- Mali
- Monaco
- Mozambique
- Namibia
- Nigeria
- Philippines
- Senegal
- South Africa
- South Sudan
- Syria
- Tanzania
- Venezuela
- Vietnam
- Yemen
For any inquiries or questions about our A.M.L and/or K.Y.C policies contact us at [email protected].