News

Bitcoin ATM maker partners with AML solutions provider to ensure compliance

The companies will integrate the IdentityMind international compliance platform for virtual currencies into Lamassu bitcoin ATMs.

November 4, 2014

IdentityMind Global, a provider of anti-money laundering and compliance solutions for virtual currencies, and Lamassu Bitcoin Ventures, a distributor of Bitcoin ATMs, announced they will partner to provide integrated compliance services for Bitcoin ATM operators worldwide.

According to a news release, IdentityMind Global and Lamassu Bitcoin Ventures recently announced a partnership that will integrate the IdentityMind international compliance platform into Lamassu bitcoin ATMs.

Built-in components in the integration include:

• know your customer;
• transaction monitoring;
• sanctions screening;
• automated SAR filing; and
• anti-fraud services.

Given increasing regulatory scrutiny of virtual currencies, and encouragement from the ATM Industry Association, Lamassu has placed a timely focus on providing ATM operators with the tools they need to effectively — and legally — operate their machines, the release said.

“It has always been important for us not to burden the end users of our machines with a complicated or intrusive compliance solution,” said Lamassu CEO Zach Harvey. “This integration allows us to provide our operators with an affordable and quality solution that fits the Lamassu user experience. It’s fast, it’s intuitive and it’s easy.”

Included In This Story

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ATM Industry Association (ATMIA)

The ATM Industry Association, founded in 1997, is a global non-profit trade association with over 10,500 members in 65 countries. The membership base covers the full range of this worldwide industry comprising over 2.2 million installed ATMs.

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