Generally, money laundering is any act or attempted act to hide or change the identity of illegally obtained income from criminal activities, in such a manner that suggests that legal income is earned.
Money laundering or caharis money criminal activity, group secretary continuous period that cannot exceed the scope of a country's political and economic.
Money laundering is a three-step process that we refer to:
1. Placement stage
2. Layering stage
3. Integration stage and movement of cash from its source.
To comply with the AML/CTF customers BTCBear companies needing to authentication procedures have the following documents:
Proof of identity:
1. Scan your passport or National ID Card
2. Affidavit driving
Proof of address:
1. Bank statement
2. Utility bills
UK legislation and regulations
The Proceeds of Crime Act 2002 (c.29) (POCA) is an Act of the Parliament of the United Kingdom which provides for the confiscation or civil recovery of the proceeds from crime and contains the principal money laundering legislation in the UK.
The Terrorism Act 2000: http://www.legislation.gov.uk/ukpga/2000/11/contents
The Terrorism Act 2006: http://www.legislation.gov.uk/ukpga/2006/11/contents
The Money Laundering Regulations 2007
The Joint Money Laundering Steering Group (JMLSG) Guidance for the UK Financial Sector on the prevention of money laundering/combating terrorist financing
All documents must be scanned with high resolution and not older than 6 months, otherwise your account is not verified.
BTCBear.com owners WILL NOT share any customer’s information and refused to sell to their clients is crucial responsibility in this regard.
Establishing and maintaining risk-based customer due diligence, identification, verification and know your customer (KYC) procedures, including enhanced due diligence for those customers presenting higher risk, such as Politically Exposed Persons (PEPs).
The purpose of these laws is to detect and prevent money laundering and prevent the financing hatchet man.