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Compliance & Security

Compliance Built Into Every Payment

OFAC screening, KYC/AML verification, W-8BEN collection, and 1099-NEC reporting — automated on every payment run. Licensed MSB. SOC 2 Type II certified.

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Enterprise-Grade Compliance

OFAC Sanctions Screening

Every recipient screened against US Treasury SDN list and all other sanctions programs before execution. Applies to every batch run — not just first onboarding.

KYC / AML Verification

Identity verification built into the self-service onboarding portal. AML monitoring runs continuously on transaction patterns, not just at signup.

W-8BEN Collection

Non-US contractors complete the W-8BEN digitally during onboarding. Platform validates, stores, and triggers reminders for missing or expired forms.

1099-NEC Reporting

Annual payments aggregated automatically. Pre-populated 1099-NEC forms ready for finance team review before the January filing deadline.

SOC 2 Type II

Annual third-party audit of security controls, availability, and data privacy. Full report available under NDA for enterprise customers.

Multi-Jurisdiction

Compliance workflows adapt to local requirements across 190+ countries. GDPR, local data residency, and regional AML rules handled automatically.

Compliance FAQ

Yes. Bitwage is a FinCEN-registered Money Service Business (MSB) and maintains state money transmission licenses. We operate under a comprehensive compliance program with independent audits.

Every recipient is screened against the OFAC SDN list, Consolidated Sanctions List, and other sanctions programs before each payment run. Matches trigger a hold for manual review by our compliance team.

Yes. The platform provides downloadable compliance reports including KYC status, OFAC screening results, W-8BEN collection status, and 1099-NEC summaries for audit purposes.

Compliance Without Complexity

Let Bitwage handle the regulatory burden so you can focus on paying your team.

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