Digital Surge is an Australian cryptocurrency exchange and is required to comply with Anti-Money Laundering and Counter-Terrorism Financing laws.
These regulations are designed to help prevent fraud, scams, and financial crime, and they require us to verify customer identities and monitor account activity on an ongoing basis.
What information may Digital Surge request?
As part of our regulatory obligations, Digital Surge may request additional information from time to time.
This information may include, but is not limited to, your:
Full name
Residential address
Date of birth
Occupation or business activity
We may also request information about how you use Digital Surge, including:
The purpose of specific transactions
The income or assets available to you
The source and origin of funds used for deposits
The source of your wealth
Your general financial position
Why does Digital Surge need this information?
Banks and cryptocurrency exchanges are subject to the same AML and CTF laws, but cryptocurrency transactions carry different risks.
Bank transfers include identifiable details such as account names and numbers, which makes transactions easier to trace and sometimes recover.
Cryptocurrency transactions are decentralised and generally irreversible. Once crypto is sent, it is much harder to trace or recover. Because of this, cryptocurrency platforms must apply additional checks to help prevent misuse before it occurs.
When might additional verification be required?
Digital Surge is required to monitor customer activity as part of its AML and CTF program.
We use automated and manual reviews to identify activity that may require further verification. When certain risk indicators are triggered, we may request additional information or temporarily restrict certain features while a review is completed.
This can include requests to enable crypto sends, which are disabled by default and must be requested. This process can take up to 5 business days for review.
How is my information handled?
We understand that this information is sensitive.
Any information requested is reviewed only by our compliance team and used solely to meet our regulatory obligations. It is not used for marketing purposes and is not shared with third parties outside of regulatory requirements.
Is this personal?
No. These checks are not a reflection on you or your behaviour and do not mean you have done anything wrong.
They are a standard part of how Digital Surge meets its legal obligations and protects customers and the broader community from financial crime. We regularly review and update our risk controls to respond to emerging scam and fraud risks.
Need more help?
If you have any questions, please don’t hesitate to contact our support team.