Transaction monitoring

Bitvavo’s anti-money laundering and combat terrorist financing (AML/CTF) policy is designed to prevent money laundering by meeting the European standards on combating money laundering and terrorism financing, including the need to have adequate systems and controls in place to mitigate the risk of the firm being used to facilitate financial crime.

As such, our compliance department performs transaction monitoring to help identify unusual patterns of customer activity. A suspicious transaction is often one that is inconsistent with a customer’s known and legitimate business, personal activities or personal means and could, among others, be one of the following kinds of transactions:

  • Incoming or outgoing transfers of virtual currency which are directly or indirectly related to sanctions;
  • Incoming or outgoing transfers of virtual currency which are directly or indirectly related to terrorist financing;
  • Incoming or outgoing transfers of virtual currency which are directly or indirectly related to mixing services;
  • Incoming or outgoing transfers of virtual currency which are directly or indirectly related to high risk exchanges (e.g. no KYC);
  • Incoming or outgoing transfers of virtual currency which are directly or indirectly related to stolen funds;
  • Incoming or outgoing transfers of virtual currency which are directly or indirectly related to dark markets;
  • Incoming or outgoing transfers of virtual currency which are directly or indirectly related to ransomware;
  • Incoming or outgoing transfers of virtual currency which are directly or indirectly related to illegal online gambling platforms;
  • Incoming or outgoing transfers of virtual currency which are directly or indirectly related to webshops;
  • Incoming or outgoing transfers of virtual currency which are directly or indirectly related to scams;
  • Incoming or outgoing transfers of virtual currency which are directly or indirectly related to Bitcoin ATM's;
  • Incoming or outgoing transfers of virtual currency which are directly or indirectly related to offshore brokers (Forex).

Our compliance department reviews and investigates unsual activities to determine on a case-by-case basis whether the activities could be classified as suspicious. In this respect, our compliance department might in some cases reach out to you by sending an email from compliance@bitvavo.com to request for additional information.

If our compliance department determines that a transaction is suspicious, this could result in - among others - notifications to the Financial Intelligence Unit and offboarding the customer. In addition, Bitvavo is obliged to notify all transactions exceeding the value of EUR15K to the Financial Intelligence Unit.


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