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Why does Walutomat ask for a reason for the transfer?

As a currency exchange platform, we are subject to a number of regulations, including the Anti-Money Laundering and Counter Terrorism Financing Act of 1 March 2018.  In accordance with the provisions of this Act, we are obliged, among other things, to identify and verify our customers and to have information on the purpose of the transactions carried out by our Users. We therefore ask you to provide us with this information.

Our clients’ personal data is protected in accordance with procedures and legal requirements (currently –  Regulation (EU) 2016/679 of the European Parliament and the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC [General Data Protection Regulation], hereinafter referred to as  “GDPR”). We have implemented an internal security policy and have an appropriate organisational structure in place to support data security (Compliance Department and Security and Risk Management Department). We regularly carry out external security tests of our services, so we ensure that our customers’ personal data is safe.