The cryptocurrency platform Chilean Buda.com has been recognized by the Scorechain company as one of the safest companies in the world according to its category. The Scorechain is specialized in services of blockchain and Bitcoin.
In this context, Scorechain recognized the security in the transactions of Buda.com, which prevents money laundering and international terrorism practices. The others exchanges winners were: Bitflyer, Bitstamp, Itbit and Paybis.
For this recognition in question, the risk level of each virtual asset service provider was evaluated, when evaluating their policies against money laundering.
The ranking, which assesses the security levels in terms of preventing money laundering and combating financial terrorism, highlighted that Buda.com “has implemented exceptional policies and processes that allow mitigating money laundering and the risks of financial terrorism. in the sector”.
“The ranking (of @scorechain) has analyzed thousands of exchanges in areas such as the US, Japan, Luxembourg and the UK, being https://t.co/KttBJZy3Wa the only platform in the region that is part of this list (prevention of money laundering and against financial terrorism) “. https://t.co/GftF7gFdSm
— Buda.com (@BudaPuntoCom) September 28, 2021
Buda.com complies with AML / CFT regulations
In addition, For Scorechain, the Buda exchange complies with AML / CFT regulations and has implemented exceptional policies and processes to mitigate money laundering and terrorist financing risks, and details that the platform offers trading services with BTC, ETH, LTC and more safely for users.
To achieve this recognition, they did a study with 700 cryptocurrency service providers. Highlighting that Buda.com has implemented exceptional policies and processes to mitigate the risks of money laundering and terrorist financing.
Scorechain Entity Directory takes care of evaluate, rigorously the risk of each Virtual Asset Service Provider (VASP) identified by evaluating their anti-money laundering policies (AML) and the fight against the financing of terrorism (CFT) and its exposure to jurisdictional and security risks.
“At Buda.com we are committed to security and the prevention of financial crimes. Our priority is to offer a reliable scheme to our users, so we implement mechanisms that allow us to provide the highest security when making transactions. This recognition encourages us to continue working for this purpose ”. indicated Alejandro Beltrán, country manager of Buda.com.
It should be noted that, in addition, The platform is part of the Fintech Fincrime Exchange, a private conglomerate of companies that join forces to combat money laundering and financial crimes around the world.
The only certified one in South America
The ranking, which has analyzed the security mechanisms of thousands of exchanges around the world, highlighted platforms of USA, Japan, Luxembourg and the United Kingdom, Buddha.com being the only platform for Latin America which is part of this list.
For its part, Buda.com is the market for buying and selling cryptocurrencies in South America, it has more than 400,000 users with a presence in Peru, Argentina, Chile and Colombia; reaching a monthly average of transactions of more than US $ 112 million dollars.
Recently, the platform began to ask its users for a selfie as a security measure for users who withdraw money to a new address in Bitcoin. Since it seeks to avoid any piracy attempt.
Meanwhile, Buda explained that part of their advanced verification consists of filling out forms where the user indicates their economic activity and the annual amount they want to pay to their wallet, later uploading a selfie that will serve as an identity document with the following signed statement.
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