AML is an abbreviation for the term anti-money laundering and covers the measures taken to prevent money laundering and terrorist financing. Specifically, it involves a range of internal processes to comply with legal requirements. One elementary core component of AML is the identification of all customers (KYC).
Careful scrutiny of customers and reporting requirements – AML in the crypto sector
EUWAX AG and Boerse Stuttgart Digital Custody GmbH are subject to regulatory provisions for the prevention of money laundering and terrorist financing, as well as criminal acts. These regulations include, among other things, a careful examination of customers and a duty to report suspicious activities.
The advantage of AML for BISON customers
And what does ALM mean for BISON customers? Quite simple: it assures that we operate as a trustworthy digital asset trading platform, committed to preventing illicit activities. We do everything we can to prevent illegal activities on our trading venue.
Our goal is to cultivate sustainable, long-term customer relationships, underpinned by our belief in the potential of crypto assets. To achieve this, we rely on AML-compliant processes in the area of money laundering prevention, among other strategies. The recipe for success here lies in the interaction between human experts and state-of-the-art technologies. After all, it is the use of these technologies that helps effectively identify and combat risks in the area of financial crime.