Bitcoin Depot has announced that it will require customers to provide ID with every crypto ATM transaction as part of an effort to combat fraud and illegal activities. The company says the feature will help prevent account sharing, identity theft or other fraudulent methods.
“Continuous verification allows us to detect suspicious activity based on customers, locations, or transaction amount before a transaction is approved.” “By requiring identity verification at every transaction, we are taking an additional step to strengthen security, protect customers, and maintain the integrity of our services.” Bitcoin Depot has always prioritized compliance and consumer protection, and it’s crucial to our operations that we demonstrate proactive leadership in preventing fraud and building trust with our customers,” Scott Buchanan, Bitcoin Depot CEO, said in the release.
Bitcoin Depot has announced a policy requiring customers to present identification for every crypto ATM transaction in an effort to curb fraud and illicit activities. The feature is designed to help prevent account sharing, identity theft, and other fraudulent methods. The policy will be implemented across the company’s ATM network, reflecting a broader trend toward mandatory identity checks in crypto services and reinforcing the importance of secure, compliant operations in fintech.
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