In accordance with South Africa’s Financial Intelligence Centre Act 38 of 2001 in order to combat money laundering activities (AML) and to counter-terrorism financing (CTF) OVEX confirms every users’ identity and place of residence.
To ensure we meet these standards, our customers are required to provide certain personal details and documents when opening an OVEX Account. The nature and extent of what is required are guided by the customer’s deposit and withdrawal limits.
OVEX has also commissioned an impartial compliance officer to ensure it promotes and more importantly upholds industry best practices and regulatory standards. OVEX is committed to building an environment for investing in cryptocurrencies that is not only safe but embraces regulation.