🛡️Security

AML

IBEx has announced that it is stepping up the protection of its users’ crypto flows under the European Union’s anti-money laundering and combating the financing of terrorism (AML/CFT) regulations. The financial sector in general is exposed to this type of illegal activity and, in recent years in particular, in the field of crypto-assets, as with any innovative technology. IBEx wants to support its users so that they can take full advantage of the opportunities offered by this new investment medium without being worried by dubious flows.

IBEx is a regulated platform within the European Union and complies with the directives of the regulatory authorities in order to offer its customers the highest possible level of security. To ensure that their funds are protected by European law, we use transactional analysis tools to track and rate transactions and addresses according to their level of risk. The European Regulation on Markets in Crypto-Assets (MiCA) was published in the Official Journal of the European Union on Friday 9 June 2023. It came into force on 29 June 2023. It is within this context that we are strengthening the security of IBEx.

Our policy of analysing incoming and outgoing crypto flows is now fully operational on the platform. The verification of transaction flows on layer 1 blockchain detects and prevents any risk of our customers’ funds coming into contact with contaminated crypto-asset wallets, i.e. those linked to fraudulent activities (a list of which can be found here).

In addition to these new ‘on-chain’ security measures, there are other ‘off-chain’ measures already present on the IBEx platform, such as traditional KYC, trading history and the electronic signature of the wallet, which enables us to establish the link between the wallet and the individual.