What measures does Luna take to detect and prevent the conversion of illicit funds to Bitcoin?

3 answers

• Nov 26, 2021 · 3 years ago
  Luna employs advanced transaction monitoring systems and algorithms to detect any suspicious activities related to the conversion of illicit funds into Bitcoin. These systems analyze various factors such as transaction patterns, source of funds, and known illegal addresses to identify potential risks. Once flagged, Luna takes immediate action to prevent the completion of such transactions and reports them to the relevant authorities.
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• Nov 26, 2021 · 3 years ago
  To combat the conversion of illicit funds into Bitcoin, Luna has implemented strict Know Your Customer (KYC) procedures. This ensures that all users are properly identified and verified before they can engage in any transactions on the platform. By collecting and verifying user information, Luna can reduce the risk of illegal funds entering the system and prevent their conversion into Bitcoin.
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• Nov 26, 2021 · 3 years ago
  As a third-party observer, I have noticed that Luna has implemented robust anti-money laundering (AML) measures to prevent the conversion of illicit funds into Bitcoin. These measures include thorough customer due diligence, transaction monitoring, and reporting suspicious activities to the appropriate authorities. By actively cooperating with regulatory bodies and law enforcement agencies, Luna aims to maintain a secure and compliant trading environment for its users.
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