Counter-Terrorist Financing (CFT) Terms

VbitOTC Cryptocurrency Exchange Store Counter-Financing of Terrorism (CFT) Terms

1. Purpose

1.1 Purpose: VbitOTC Cryptocurrency Exchange Store (we) is committed to ensuring our platform and services are not used to finance or participate in any form of terrorist activity.

1.2 Regulatory compliance: The company will comply with all relevant CFT regulations, including but not limited to local and international provisions.

2. Customer due diligence

2.1 User identity checks: We require all users to provide complete and accurate identity documents before using our services so that appropriate due diligence can be conducted.

2.2 Suspicious activity: We will take measures to detect and report suspicious user activity that may involve terrorist financing.

3. Declaration of source of funds

3.1 Source of funds: Users must lawfully provide the source of their funds, particularly for large transactions.

3.2 Source-of-funds enquiries: We reserve the right to investigate the legitimacy of sources of funds at any time.

4. Suspicious activity reporting

4.1 Suspicious activity: If we identify suspicious user activity that may involve terrorist financing, we will submit the relevant suspicious transaction reports (STRs) as required by law and regulation.

5. Cooperation and reporting

5.1 Partner organisations: We will cooperate with local regulators and law enforcement agencies, providing necessary information and compliance reports.

5.2 Internal reporting: We will establish an internal reporting mechanism for staff to report potential CFT violations anonymously.

6. Staff training

6.1 CFT training: We will ensure staff receive regular CFT training to improve their ability to identify and respond to terrorist financing risks.

7. Confidentiality

7.1 Information confidentiality: We will strictly protect the confidentiality of users' identity and transaction information, except where disclosure is required by law and regulation.