Anti-money-laundering, KYC and sanctions policy

Our commitment

BitriPay does not want criminal money and does not do business with sanctioned people or countries. We apply the anti-money-laundering and counter-terrorist-financing laws of every country we operate in, and the stricter rule where they differ.

Know your customer

• Everyone gives a name, phone number and country to open an account, and can hold a limited balance and send small amounts while unverified.
• Verification (an identity document plus a live selfie) is required before withdrawing, sending abroad, or exceeding the limits shown in the app. Businesses, agents and merchants additionally provide registration documents and the identity of their owners and directors.
• Ongoing: we screen every customer and every counterparty against sanctions lists at sign-up and on each transaction, and we refresh verification when documents expire or activity changes.

Monitoring

Every transaction passes automated checks: velocity limits, new-beneficiary cooling-off, unusual patterns for the customer's profile, mismatches between funding and payout, and structuring below reporting thresholds. Alerts are reviewed by trained staff. Suspicious activity is reported to the financial intelligence unit of the relevant country, and we may be required not to tell you.

Source of funds

For larger transfers the app asks you to declare where the money comes from and may ask for evidence.

Agents and payout partners

Agents are identified, trained and supervised; their floats are reconciled daily and every cash-in and cash-out is approved on the customer's own phone. Payout partners and prefunded local accounts are contracted and reviewed before a corridor goes live.

Records

Identity and transaction records are kept for at least five years after the relationship ends, as the law requires.

Training and accountability

All staff complete AML training when they join and every year. The Money Laundering Reporting Officer is named on the Regulatory information page.