From May 21, 2020, new regulations (AMLD5 / WWFT) will apply to crypto companies in the Netherlands. During a presentation by DNB (De Nederlandse Bank), crypto providers were clearly told that a copy of an identity card is not sufficient as it is easy to forge. By asking our customers for a short introductory video, we comply with the above-mentioned regulations and stricter verification requirements of the DNB.
We understand that our request for video verification may come out of the blue if you were not aware of the above developments. In this article we try to provide more insight into our choice for video verification.
From May 18, 2020 (after placing an order) all existing and new customers must submit a one-time short introduction video. Below we explain how you can make this video in a few minutes and deliver it safely to us.
Make a video with your phone or webcam and introduce yourself (name and surname).
Make sure to verbally include our company name (SATOS) in your video.
Show your ID clearly and legibly in the video.
Make sure your face is clearly visible during the video.
Example: I am Satoshi Nakamoto, I want to buy or sell bitcoin with SATOS.
Keep your movie as short as possible so that the size is not too large (max 40MB).
Make sure the video is not overexposed or too dark;
Make sure you are clearly visible and understandable.
You can protect your social security number, this is your right.
Send your introductory video quickly and safely via our live chat at the bottom right of this page. Once we have received your video, we will review it as soon as possible and store it securely on our encrypted systems.
The law requires us to check your personal data and store it securely. In our privacy statement, we explain how we handle your personal data: which ones we collect and what we use them for. We also explain how you can view, change or delete your data. We think it is important that you are well informed about this and recommend that you read this statement carefully.