AUSTRAC is Australia's financial intelligence agency with regulatory responsibility for anti-money laundering and counter-terrorism financing. AUSTRAC identify threats and criminal abuse of the financial system, and act to protect Australia's economy.
As a business dealing with Australian Dollar and digital currency, Bit2Bill Pty Ltd has obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) to ensure any of the transaction not involved in the activities of money laundering or terrorism financing.
As Bit2Bill User, you need to have your identity verified using our service. The verification process is taken through a third party Digital iD™. Digital iD™ makes verifying your identity easy. It’s a secure, safe and simple way for you to prove who you are without having to continuously use your identity documents. The process should take a few minutes.
As an alternative to Digital iD™, we allow manual upload of identity verification documents. This process usually takes 1-3 days to complete verification. After verification we will destroy your documents in our secure storage.
We aim to keep personal information only for as long as we need it – for example for business or legal reasons. When we no longer need information, we take reasonable steps to destroy or de-identify it.