Before we can provide a designated service (including buying or selling cryptocurrency), we are required to verify some basic identification information about our customers to comply with Know Your Customer (KYC) regulations—such as name, address and (for individuals) date of birth. Additional information may be required for businesses.

We evaluate the risk posed by each customer according to local laws, employing a risk-based approach. This categorisation helps prevent/mitigate fraud, money laundering, and terrorism financing, with various techniques in place for risk identification and mitigation.

We conduct thorough screenings of our customers against Adverse Media, PEP lists, and sanction databases. Ambit Exchange strictly refrains from engaging in transactions with entities listed on prescribed sanctions lists. Our regular screening process covers all government and available databases.

As part of complying with AUSTRAC's reporting guidelines, we will report any event suspected to be involved with Money Laundering, Proceeds of Crime, Terrorism, Fraud, or Trafficking.

We actively monitor customer transaction patterns to identify unusual or suspicious activities. We reserve the right to request additional information from customers in case of suspicious transactions and report such incidents to relevant authorities through our Compliance Officer. Regular Suspicious Matter Reports (SMRs) are submitted as needed.

All customer information is collected, stored, and used in compliance with all applicable privacy legislation and our Privacy Policy available in the Privacy Policy section of our website.