AML Policy

The Policy of Anti-Money Laundering (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 prevention such a criminal activity in the whole world.
For these goals we do the following actions:
1.    We conduct the process of verification client’s identity and personal information and watch all the transactions made by customers.
2.    Our team traces all suspicious operations of the users and also those operations, which were made under irregular circumstances.
3.    If our company will suspect the illegal activity or money laundering, it has a full right to cancel such a transaction at any step.
4.    According to the international law, PayBis Company is not obligated to give customer 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 client’s identity, the team of our company has a right to update its electronic system on the regular base 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 Required and Supported Documents:

Some of the following documents might be required during verification process at Paybis.com

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 olrder than 6 month
  • Paper versions or electronic versions are allowed
  • No modifications are allowed to the documents
Additional Verification Documents:
  • Photo of Credit Card (in specific cases, only when making payment with your Debit/Credit Cards)
  • Selfie with Credit Card (in specific cases, only when making payment with your Debit/Credit Cards)
  • Photo with printed or handwritten declaration (in specific cases, for high amounts)

 


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