YallaBit is diligent in regards to being compliant with EU and local CFT (Combating the Financing of Terrorism) & AML (Anti-Money Laundering) laws. This procedure is considered to be common practice within the cryptocurrency & financial services industry. We request for documentation to abide by our AML & KYC (Know Your Customer) policy to prevent any illegal or fraudulent activities.
YallaBit conducts a detailed verification process and screens every customer as a financial institution to ensure the legitimacy and legality of our customers and their transactions.
The KYC procedure is not a one-time process, customers may be asked for further documentation if required and deemed necessary by YallaBit. YallaBit deals with each case individually, therefore, the type of documentation or information will differ for each customer.