AML Policy

Anti-Money Laundering Policy (AML)

The laundering of money is the criminal process of converting the amounts of illegally obtained money (by terrorism, corruption, drug dealing etc.) with hiding its true source into legal investments. It happens because illegal nature of such funds will not be discovered being material values.
A government of every country fights against money laundering and terroristic financial operations because it is necessary to prevent the entry of criminal funds into the economics. Financial and commercial institutions are the most easily accessible for illegal processes of terroristic and criminal organizations. Especially digital currency services are come-at-able. Thus, our company PayBis takes an active part in the prevention of such a criminal activity in the whole world.
For these goals we do the following actions:
1. We conduct the process of verification of the User’s identity and personal information and monitor all the transactions made by Users.
2. Our team traces all suspicious operations of the Users and also those operations, which were made under irregular circumstances.
3. If our company suspects the illegal activity or money laundering, it has the full right to cancel such transaction at any step.
4. According to the international law, PayBis Company is not obligated to give the User any notifications about suspicion in user’s criminal actions.
5. Such company’s actions are based on AML FATF references.

To prevent the suspicious operations and verify the User’s identity, our company team has the right to update its electronic system on the regular basis according to new regulations (if those appear). We arrange also different pieces of training for our staff for improving the methods of struggle against money laundering.

List of the Required and Supported Documents:

The following documents are usually required during the verification process at

Identity Verification:
  • Government issued International Passport
  • Government issued Identity Card
  • Government issued Driving License
  • Selfie with Identity Document
Address Verification:
  • Utility bill or Bank Statement, not older than 6 month
  • Paper versions or electronic versions are allowed
  • No modifications are allowed to the documents
Additional Verification Documents:
  • Photo of the Credit Card (in specific cases, only when making a payment with your Debit/Credit Cards)
  • Selfie with the Credit Card (in specific cases, only when making a payment with your Debit/Credit Cards)
  • Photo with printed or handwritten declaration (in specific cases, for high amounts)