BALTBIT Sp. z o.o. is a company duly incorporated in the Republic of Poland, registered company number 525570981, registered office address: Hoża Street 86/210, 00-682 Warszaw, Poland, hereinafter – the ‘BaltBit’.
BaltBit is authorized by the Polish Revenue Administration Chamber (https://www.gov.pl/web/national-revenue-administration/about-us) to conduct virtual currency business activity (certificate number 2401-CKRDST.4225.305.2023, Reference number RDWW-808).
Since virtual currencies are the main business focus of BaltBit and one of the most dynamic, fast changing, and innovative parts of the today’s financial services landscape, BaltBit pays special attention to the identification, prevention, and mitigation of risks BaltBit may pose while rendering services related to virtual currencies and virtual currencies transactions.
To prevent money laundering, terrorism financing and other financial crimes while using BaltBit services, BaltBit has established robust anti-money laundering and counter terrorism financing policies and procedures based on high ethical standards in financial transactions and compliance with applicable laws and regulations.
BaltBit internal AML rules and procedures are established in line with the BaltBit domestic and supranational mandatory binding requirements and recommendations:
BaltBit for ‘Know Your Customer’ (‘KYC’) purposes collects certain minimum customer identification information from each customer, who applies for BaltBit services.
The minimum information the customer, should provide for KYC purposes is: full name (First, Last, Middle, Former (if any)), residential address (including country, postal code, state, and city), date of birth, phone number, e-mail address.
For KYC and customer due diligence purposes BaltBit requests the following minimum of documents:
This is not an exhaustive list of information and documents requested for KYC and due diligence purposes. BaltBit reserves the right at any time to request any additional information and documents to get full understanding of the customer, as well as, to dispel any doubts and suspicious of money laundering, terrorism financing or other financial crimes, or even attempts of such illegal activity.
The customer should provide BaltBit with the requested documents/information without hesitation, at the latest within 5 (five) business days since the date of the documents/information request. BaltBit retains the right to decline the customer if requested documents/information are not submitted in time.
Each prospective BaltBit customer should undergo mandatory sanctions and PEP screening, which includes checking against global watchlist of businesses, organizations, individuals, and government agencies to protect against fraud and illicit activity.
BaltBit maintains an-ever changing list of non-cooperative jurisdictions:
BaltBit in no case establish business relationship and does not provide services to the customers included in any watchlist, surrounded by negative adverse media, being residents or otherwise connected to any of the non-cooperative jurisdictions, intended to use BaltBit services in conjunction with prohibited industries.
BaltBit has established adequate systems and tools to identify, control and mitigate the risks BaltBit may pose, including robust customers’ verification and due diligence rules and procedures, money laundering and terrorism financing risk assessment and controls, transactions’, and customers’ activity monitoring toolset. BaltBit monitors its customers’ transactional activity on ongoing manner, ensuring timely identification of suspicious activity.
BaltBit has built highly skilled and seasoned AML team which is duly trained in all applicable aspects of anti-money laundering and terrorism financing and overall compliance requirements of BaltBit.
