The Chilean cryptocurrency platform Buda.com was recognized by Scorechain as one of the most secure companies in the world according to its category. The Scorechain specializes in blockchain and bitcoin services.
In this regard, Scorechain has recognized the security in Buda.com’s transactions, which prevents money laundering and international terrorism practices. The other excellent exchanges were: Bitflyer, Bitstamp, Itbit and Paybis.
For this recognition in question, the risk level of each virtual asset provider was assessed when evaluating their anti-money laundering policy.
The ranking, which assesses the level of security in relation to the prevention of money laundering and the fight against financial terrorism, highlighted that Buda.com has “implemented exceptional policies and processes that make it possible to contain money laundering and the risks of financial terrorism in the industry” .
“The ranking (from @Scorechain) has analyzed thousands of exchanges in areas such as the US, Japan, Luxembourg and the UK and https://t.co/KttBJZy3Wa is the only platform in the region that is part of this list (Preventing Money Laundering and Countering Financial Terrorism) ” . https://t.co/GftF7gFdSm
– Buda.com (@BudaPuntoCom) September 28, 2021
Buda.com complies with AML / CFT regulations
Additionally, For Scorechain, the Buda Exchange is AML / CFT compliant and has implemented exceptional policies and processes to mitigate money laundering and terrorist financing risks.
To achieve this recognition, they conducted a study with 700 cryptocurrency service providers. Emphasize that Buda.com has implemented exceptional policies and processes to mitigate the risks of money laundering and terrorist financing.
The Scorechain Entity Directory is tasked with rigorously assessing the risk of each individual Virtual Asset Service Provider (VASP) by assessing its anti-money laundering (AML) and terrorist financing (CFT) policies and their exposure to jurisdiction and security risks.
“At Buda.com we are committed to security and the prevention of financial crime. Our priority is to offer our users a reliable scheme, so we implement mechanisms that allow us to provide the highest level of security in transactions. This recognition encourages us to continue working for this purpose. “ said Alejandro Beltrán, Buda.com Country Manager.
It should be noted that in addition The platform is part of the Fintech Fincrime Exchange, a private conglomerate of companies that have come together to fight money laundering and financial crime around the world.
The only certified one in South America
The ranking, which analyzed the security mechanisms of thousands of exchanges around the world, highlighted platforms from the US, Japan, Luxembourg and the UK, with Buda.com being the only platform in Latin America to be on this list.
Buda.com, for its part, 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; Reach a monthly average of transactions of more than $ 112 million.
Recently, the platform started asking its users to take a selfie as a security measure for users withdrawing money to a new address in Bitcoin. As it tries to avoid any attempt at piracy.
In the meantime, Buda explained that part of their expanded review is to fill out forms in which the user states their economic activity and the annual amount they would like to pay to their wallet, and then uploading a selfie to use as an identification document serves the following signed declaration.