Vela is committed to preventing money laundering, terrorist financing and sanctions evasion. This policy summarises how we know our customers and monitor activity, following the principles of the Swiss Anti-Money Laundering Act (AMLA) and the FATF Recommendations.
1. When we verify you
You can create an account and explore the platform freely. Identity verification is required before your first deposit, withdrawal or trade.
2. Customer due diligence
We collect and verify:
- full legal name, date of birth, nationality and residential address;
- a valid government-issued identity document (passport, national ID card or driver’s licence);
- a live selfie matched to the document photo;
- where needed, proof of address and information on the source of funds and source of wealth.
3. Beneficial ownership
Personal accounts may only be used for the account holder’s own funds. Business accounts must identify their beneficial owners holding 25% or more and their controlling persons.
4. Sanctions and PEP screening
All customers are screened at onboarding and continuously against sanctions lists (SECO, UN, EU, UK HMT, US OFAC) and for politically exposed persons (PEPs). PEP relationships require senior management approval and enhanced due diligence.
5. Transaction monitoring
We monitor transactions for unusual patterns relative to a customer’s profile. Bank deposits are accepted only from accounts in the customer’s own name. Crypto transfers are screened with blockchain analytics and, where applicable, the travel rule.
6. Enhanced due diligence
Higher-risk relationships — for example involving high-risk jurisdictions, large volumes or complex structures — are subject to additional checks and may be declined.
7. Reporting
Where there are reasonable grounds to suspect money laundering or terrorist financing, we are required to report to the Money Laundering Reporting Office Switzerland (MROS) and may be prohibited from informing the customer.
8. Record keeping
Identification documents and transaction records are retained for at least 10 years after the end of the business relationship.
9. Governance and training
A designated compliance officer oversees this policy. Staff receive AML training at onboarding and annually. The policy is reviewed at least once a year.