AML/KYC Policy

At Globalbitex.com, we are firmly committed to maintaining the highest standards of integrity, security, and regulatory compliance in the digital asset and cryptocurrency exchange industry. As a responsible financial services provider, we recognize our legal, ethical, and operational responsibility to prevent the misuse of our platform for money laundering, terrorist financing, and other forms of financial crime.

This AML & KYC Policy outlines the procedures, risk controls, and operational frameworks we implement to safeguard our clients, our platform, and the wider financial system, ensuring full compliance with European Anti-Money Laundering Directives (AMLD5 & AMLD6), FATF recommendations, and GDPR requirements.

Policy Objectives

• Prevent the use of Globalbitex.com for money laundering, terrorist financing, fraud, and other financial crimes.

• Detect, deter, and report suspicious activity in accordance with applicable laws.

• Establish strong identity verification processes for all clients subject to due diligence thresholds.

• Maintain comprehensive transaction records and transparent audit trails.

• Operate a privacy-compliant, GDPR-secure KYC process.

• Foster a culture of compliance, integrity, and accountability across our services.

Regulatory Framework

Our AML & KYC program is developed in line with:

• EU Anti-Money Laundering Directives (AMLD5 & AMLD6)

• Financial Action Task Force (FATF) guidelines

• European Central Bank (ECB) crypto asset supervision policies

• General Data Protection Regulation (GDPR)

• Relevant national financial crime prevention laws within the jurisdictions we operate.

Scope of Policy

This policy applies to:

• All individual and corporate clients conducting cryptocurrency transactions through Globalbitex.com

• All transaction types facilitated by Globalbitex.com, including buy, sell, high-value trades, and institutional services.

• All employees, partners, and service providers involved with our business operations.

Know Your Customer (KYC) Program

To mitigate financial crime risks, we enforce a tiered, risk-based KYC process:

Verification Process

1. Document Submission:
   Clients must provide valid government-issued identification (passport, national ID, or driver’s license), a recent utility bill or bank statement as proof of address (issued within the last 3 months), and a real-time selfie.

2. Identity Verification:
   Secure, GDPR-compliant identity checks are conducted via certified third-party KYC providers where applicable.

3. Source of Funds Verification (for €5,000+ transactions):
   Clients may need to provide documents such as bank statements, salary slips, or notarized declarations.

4. Data Storage & Protection:
   All personal data is securely encrypted, stored, and handled in line with GDPR Article 32 data security requirements.

Anti-Money Laundering (AML) Procedures

Transaction Monitoring

All cryptocurrency transactions processed via Globalbitex.com are continuously monitored for:

• Unusually large, unexplained deposits or withdrawals

• Structuring (breaking transactions into smaller amounts to avoid thresholds)

• Rapid, consecutive transactions inconsistent with client profiles

• Transfers involving high-risk jurisdictions or sanctioned countries

• Flags raised by blockchain analysis tools for potential illicit activity

Suspicious Activity Reporting (SAR)

If suspicious activity is identified:

• The Compliance Officer will review the case.

• A Suspicious Activity Report (SAR) will be filed with the relevant Financial Intelligence Unit (FIU) as required.

• We may suspend or terminate the client account where necessary.

Enhanced Due Diligence (EDD)

EDD is applied for higher-risk clients, transactions, or jurisdictions, and may involve:

• In-depth source of funds and wealth checks

• Verification of business activity for corporate clients

• Additional identification documents

• Ongoing, high-frequency transaction monitoring

• Periodic risk profile reviews

Sanctions & Politically Exposed Persons (PEP) Screening

We screen against:

• EU Sanctions List

• United Nations Security Council Sanctions List

• OFAC (U.S. Office of Foreign Assets Control) List

• Relevant national sanctions list
  We also identify and monitor PEPs (Politically Exposed Persons) with stricter EDD measures.

Record Keeping

To comply with AMLD5 and FATF recommendations:

• Globalbitex.com retains transaction records and KYC documentation for a minimum of 5 years following the conclusion of the client relationship or final transaction.

• Records include identity verification, transaction details, and audit trails.

• All data is secured under GDPR-compliant data protection protocols.

Employee Training & Compliance Culture

All relevant Globalbitex.com personnel receive mandatory, ongoing AML and KYC training covering:

• Updated AMLD and FATF regulations

• Financial crime risk identification

• Reporting obligations

• GDPR and data protection standards

Client Responsibilities

Clients using Globalbitex.com are expected to:

• Provide accurate, current, and truthful information.

• Cooperate promptly with all verification and due diligence procedures.

• Use the platform solely for lawful, legitimate purposes.

Non-compliance may result in:

• Account suspension

• Reporting to regulatory authorities

• Termination of business relationship

Policy Review

This policy is reviewed annually or sooner in response to:

• Regulatory updates

• Operational developments

• Internal risk assessments

Contact & Reporting

For any AML/KYC-related queries or concerns, reach out to our Compliance Team:

Email: compliance@globalbitex.com
Phone: +[Country code][number]
Address: [Registered business address]