Anti Money Laundering Terms (AML)
HandleKrypto is owned and operated by Balder Solutions AS, organization number 921 711 425 and developed by We Program IT (OS IT Programming AS), organization number 921 074 077. Balder Solutions AS will be referred to as “HandleKrypto”, “us”, or “we” in this policy.
The Financial Supervisory Authority of Norway published an article about how The Money Laundering Act applies to virtual currency including cryptocurrency on October 4th, 2018. You can read that article here (only available in Norwegian): https://www.finanstilsynet.no/tema/hvitvasking-og-terrorfinansiering/hvitvaskingslovens-anvendelse-for-virtuell-valuta/
The new regulation is valid from 15. October 2018. The change includes platforms and services that allow customers to trade or convert a type of virtual currency with an official currency (such as Norwegian Kroner). Conversion from cryptocurrency to cryptocurrency is exempt. Our partner Safello AB in Sweden with website https://safello.com is registered in The Financial Supervisory Authority of Sweden.
We are working to create our own service for conversion of cryptocurrencies and fiat currencies with lower fees and larger limits and multiple payment methods. It will allow us to follow the Anti Money Laundering Act and actively prevent money laundering and terrorist financing. We must be registered in the Norwegian Financial Supervisory Authority before we are allowed to provide such a service ourselves, and we are currently working to put in place the registration.
Anti Money Laundering (AML) and know your customer (KYC)
See our partner Safello AB’s website for how they handle AML and KYC in accordance to the Anti Money Laundering Act: https://safello.com/legal/aml/
Our partner Safello AB uses digital eID to identify you. This is the safest method to identify you before you can use the service. In Norway this is the bank ID, in Sweden BankID, and in Denmark nem ID. This is the safest and most used identification method in the Nordic region, even safer than a passport image. It is used by banks, online shops, tax administration and other services from the government. We use Yoti for secure identification in other countries.
Safello must also know if you are a politically exposed person. That is, whether you have a political position (PEP). They must verify what your intention to use the conversion service is. Therefore, you are required to answer whether you are a PEP or not.
Customer data we receive from external services and other information you provide to us will be treated confidentially by applicable regulations. You can read more about this in our privacy statementt.