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BITPoint, IdentityMind partner for AML compliance

Thursday 13 June 2019 00:21 CET | News

IdentityMind has announced that BITPoint LATAM, a crypto to fiat exchange operator in Latin America, is using IdentityMind for KYC and AML compliance.

BITPoint is currently operating in Panama and Peru, however it was recently launched as part of its expansion into Latin America, in addition to its presence in five Asian countries. Also, the company is a certified digital assets exchanges registered with the Japanese Financial Services Authority (JFSA). It began operations in Latin America to provide a secure and transparent way for customers to learn, buy, and sell cryptocurrency assets using Peruvian soles and US dollars. Also,BITPoint allows users to exchange Bitcoin, Ethereum, Bitcoin Cash, Ripple, and Litecoin.

The partnership with IdentityMind aims to provide BITPoint with risk and compliance technology necessary to know who the company’s users are, know their source of funds, and monitor their transactions to prevent potential money laundering. By using IdentityMind for KYC and AML enables BITPoint LATAM to:

  • detect and prevent identity fraud;

  • automate transaction monitoring to detect and alert on suspicious activities;

  • assign risk profiles and score reputations;

  • consult local and international sanctions and Politically Exposed Persons (PEP) lists;

  • detect and prevent money laundering and the financing of terrorism.


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Keywords: BITPoint, Latin America, expansion, IdentityMind, partnership, AML, compliance, KYC, identity, digital asset, cryptocurrency, risks, compliance, fraud prevention, suspicious activities, fraud, money laundering
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