Peer-to-peer Bitcoin marketplace, Paxful has teamed up with Jumio to further eliminate money-laundering. Jumio uses verification and identification technologies in order to fight fraud and enrich the community. It helps organizations to meet regulatory compliance and establish the digital identity of their customers. Jumio has verified more than 150 million identities issued by over 200 countries from real time web and mobile transactions. It is based in Palo Alto and operates worldwide with offices in the U.S., Europe and Asia Pacific.
Paxful aims to give the community a secure, easy and fair platform for trading bitcoin. Together Paxful and Jumio aim to eliminate money-laundering and fraud and at the same time, give the people a security when trading in cryptocurrencies. Each user is given a free digital wallet as an incentive where they can receive, send and store bitcoin.
Lana Schwartzman, Chief Compliance Officer at Paxful, said: “We take compliance and security very seriously here at Paxful. We’re hoping that these and other upcoming changes will help our customers understand the importance of regulation and compliance when it comes to operating on a peer-to-peer finance marketplace. Paxful now reaches over 2 million people worldwide through our P2P trading platform. When operating at such great numbers dedication to strong security measures that align with a future goal of enhanced oversight and compliance, will provide a better customer experience by affording a greater degree of trust and transparency for all customers”.
Through a simple ID scan, Jumio and Paxful will now be able to verify customers’ real-world identities. Lana Schwartzman now forms part of the security team as Chief Compliance Officer. Prior to Paxful, she was a manager in the Regulatory and Compliance Risk Group at Grant Thornton LLP. She has
14 years of experience in compliance and anti-money
laundering. Dmitry Moiseev has also
joined the Paxful team as Information Security Manager. Dmitry has over 12
years of experience in Information Security and is an expert in high-risk
personal data security in the financial sector. Prior to joining Paxful, he was
an Information and Security Manager at Western Union.