AML / KYC Settings

Your AML/KYC settings are created and configured here. One setting may be applied to all Terminals, or they may be individually configured, or anywhere in-between.

AML/KYC may be the most important aspect of your business, and it’s very important that you configure your system to comply with your regional laws. SEEK LEGAL COUNSEL!

General Bytes cannot, and will not, provide advice on your legal requirements. We are a global organization in a very fluid legal environment; we do not pretend to be legal experts or in any way qualified to answer questions that may potentially lead to violations of the law.

Registrations may be automated:

AML/KYC Dashboard

The AML/KYC dashboard displays a concise summary of your system-wide AML/KYC settings.

+ADD a new AML/KYC Setting

VIEW the AML/KYC policy

DELETE the AML/KYC policy

  • will be hidden if the policy is used by any Terminals

Displays the Terminals using this Policy.


General Settings

 

Note: OFAC screening is forced & automatic. For details, see: Identities

Name*:

describe the setting, i.e. “New York KYC Policy”.

Organization*:

(admin only) assigns this policy to a specific Organization.

Reject PEPs:

PEPs (Politically Exposed People) must (by regional law) identify themselves during financial transactions. Enabling this option rejects those customers that are determined to be PEPs.

Allow Only Customers With Known Phone Identity

This option prevents Unregistered customers with anonymous phone numbers from attempting to use your BATMs that use this AML/KYC policy.

  • Only available in CANADA & the UNITED STATES.

  • Charged Service (0.13 USD per query) to your GB account.

  • Must also be enabled in your Organization settings.

Reject High Risk Transactions:

High risk transactions are those determined by a 3rd party after a target wallet address (BUY) or a sending address (SELL) is used. When enabled, transactions that are identified as “high risk” will be disabled.

Use External Registration Only:

An external system will be used to search for identities, otherwise the internal system will be used for identifying. This option should be enabled only if you use the instruction "Nothing, Go To Website" (see below).

Cryptoaddress Pinning

After being used by an Identity, a crypto-address will become exclusive to that Identity (for the “X” days specified in the Pinning Window).

  • Security measure to deter scamming.

  • Other Identities won’t be able to use the same wallet address during that window.

Pinning Window (in days)

See: Cryptoaddress Pinning (above).

Travel Rule Configuration

the “Travel” rule requires all financial institutions to pass on certain information to the next financial institution, in certain funds transmittals involving more than one financial institution.

Setting is ignored - unless configured in Organization settings.

Options:

  • Disabled

  • Enabled, unknown counterparty transactions rejected

  • Enabled, unknown counterparty transactions allowed

“unknown” = wallet owner unidentifiable by CipherTrace.

Travel Rule Amount Threshold

Transactions above this amount (inclusive, in Default Fiat Currency configured below) will be submitted to the configured Travel Rule Provider. Lesser amounts will be ignored.


Configuration types:

  • If AML/KYC is not implemented, use Anonymous Limits to restrict individual transaction amounts.

  • Unregistered Customers have not completely satisfied (or do not require) KYC verification. Any limits used here must be higher than Anonymous limits, and less than Registered limits.  VIP limits (see: Identities) may be used for individuals to permit larger transaction sizes and discounts.

  • Registered Customers have satisfied your KYC requirements and can purchase up the limits set in this section. If implemented, these amounts must exceed all others. VIP limits (see: Identities) may be used for individuals to permit larger transaction sizes and discounts.


Total Terminal Limits

Restrict aggregate transactions to specific amounts, or leave it at zero for no restrictions. This limit prevents the BATM from running out of fiat (and being out of service), or exceeding safe amounts in the cashbox.

Limits available:

  • Cash Limit Per Transaction* must be NON-ZERO!

  • Cash Limit Per Hour*

  • Cash Limit Per Day*

  • Cash Limit Per Week*

  • Cash Limit Per Month*

  • Cash Limit Per 3 Months*

  • Cash Limit Per 12 Months*

  • Cash Limit Per Calendar Year Quarter*

  • Cash Limit Per Calendar Year*

  • Cash Limit Per Day And Crypto Address*

  • Total Cash Limit Per Crypto Address*


Verification Logic

Drag and Drop verification methods from the list on the right, to the appropriate section. Items will be requested in the order they are placed.

Registration items are required to comply with your policies.

Authentication items are required prior to a transaction to prove a customer’s identity.

Items with a checkbox may be configured further (click on the checkbox).

Set a key for the primary authentication method!

  • the key is the PRIMARY method used by CAS to identify the user; the Identity.

An “umbrella” is an optional item that will only be requested if missing.


Total Terminal Limits

These settings are useful for preventing cash outages or excessive cash onsite.

Cash Limit Per Day For Buy*: set the maximum BUY cash amount per BATM.
Cash Limit Per Day For Sell*: set the maximum SELL cash amount per BATM.


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