We offer services of an experienced KYC/AML officer ( Estonian citizen ) knowing all relevant Estonian requirements and laws for the identification of clients of your cryptocurrency project. When applying for the crypto licenses “Providing a virtual currency wallet service” and “Providing services of exchanging a virtual currency against a fiat currency”, a KYC/AML officer is mandatory for an Estonian company.
KYC/AML officer duties include the following:
- Arrangement of the acquisition and analysis of information about suspicious transactions or transactions with a risk of money laundering or terrorist financing.
- Reporting to the Financial Intelligence Unit (Rahapesu andmebüroo) in case of suspected money laundering or terrorist financing.
- Submission of written statements on compliance with the requirements of this law to the management of the virtual currency exchange service provider or the virtual currency wallet service provider entered into the Estonian Commercial Register.
KYC/AML officer takes due diligence measures:
- When establishing business relations with a new client.
- When making payment in the amount of more than 15,000 EUR or an equal amount in another currency.
- When verifying data in case of doubts about the reliability of submitted documents or data.
- In case of suspected money laundering or terrorist financing.
The cost of KYC/AML officer services is 800 EUR/month (the service provision period shall be at least one year).