Know your Customer (KYC) – Limitations of use

In accordance with current anti-financial crime and money laundering laws, we comply with legal requirements by conducting a KYC (Know Your Customer) check when certain limits are reached.
All data is stored in encrypted form and not passed on to third parties. The verification is realized via our certified partner Veriff.

  1. Limit without verification: max. €1,000 per order, max. €10,000 in total
  2. Limit with verification: no limit
  3. Miscellaneous: Some products can generally only be purchased from verified accounts.
  4. Entering incorrect data or documents can lead to a blocking of subsequent purchases. It can also lead to the purchase not being processed.

    Anti Money Laundering (AML)


    Money laundering (ML) and terrorist financing (TF) are very big challenges for the crypto community. For Walletor L.L.C, ML and TF pose a serious threat to their activities. That is why Walletor L.L.C introduces and implements guidelines for combating money laundering (AML) and terrorist financing (CTF) in accordance with the relevant legal acts, recommendations, guidelines and best practices.
    The most important elements of the AML and CTF guidelines ofWalletor L.L.C are listed below:

    • Customer due diligence
      Customer due diligence information is obtained from the customer prior to entering into business relationships (and subject to KYC rules). Walletor L.L.C also compares the information with independent sources for correctness. By collecting and verifying the customer’s information the Company aims to form a reasonable belief as to the true identity of the customer. Walletor L.L.C must also understand the business of the customer to make sure that the customer does not launder illicit funds through Walletor L.L.C and/or these funds will not be used for TF.
      Information and documents made available to Walletor L.L.C when identifying the customer are processed in accordance with the data protection regulations of Walletor L.L.C .
    • Risk Assessment
      A risk-based approach is used for the risk assessment. This means that Walletor L.L.C understands the ML and TF risks to which it is exposed and applies AML / CFT measures in a manner and to an extent that ensures a mitigation of these risks. This flexibility enables Walletor L.L.C to make the best possible use of its resources in situations with higher risks and to take increased measures.
    • Ongoing Monitoring
      Walletor L.L.C continuously monitors business relationships with customers. All business relationships are continuously monitored using the risk-based approach, regardless of their risk classification. However, the scope and type of monitoring depends on the risk level of the customer and the respective service provided. Ongoing monitoring enables Walletor L.L.C to gain deeper insights into the profiles and behavior of customers.
    • Record Keeping
      Walletor L.L.C keeps records for each customer as part of the fight against ML and TF. These are encrypted in accordance with applicable law. This is to enable effective investigations, prosecutions and confiscation of criminal property to be as simple as possible.
    • Communication with the responsible authorities and provision of information
      Communication with the responsible authorities and provision of information in the event of inquiries from authorities within the framework of applicable law. If there is suspicion or knowledge that the property of any value comes directly or indirectly from criminal activities or participation in such activities or that the intended purpose of the property is to sponsor one or more terrorists or a terrorist organization, Walletor L.L.C will do so report to the competent authority and will cooperate on follow-up actions. This goes so far that the authorities (as far as legally permissible) all data of the customer and customer-specific records are made available.


    Measures to fight terrorism

    With comparison of customer data with sanction lists (OFAC) Walletor L.L.C follows its legal obligations. The measures support the long-term goal of combating global terrorism activities. In addition to EU sanctions lists, US sanctions lists are also important for Walletor L.L.C.


    Relevant Links


    Feel free to contact us at [email protected]

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