At CoinField our goal is to be entirely in compliance with KYC & AML Local and International regulations.
For all Clients (Canadians Citizens, Residents and Internationals)¹, we’ve partnered with Jumio for online Identity verification, if verification might return successful, then the client can get instantly approved to level 5 and start funding their account. However, a manual review by our Compliance team is still necessary in order to be fully approved to Level 6 - where clients can withdraw. As well, if Jumio cannot confirm the identity of the user, then one of our KYC officers will take over the file and process it manually.²
We have also partnered with ComplyAdvantage for further verification, if this is still not successful then our Compliance team will review the accounts documents and client’s information before final approval.³
The verification process includes verifying your email address and phone number, creating a profile and uploading the required documents according to the specifications provided when signing up. All information provided will then be checked for final approval of the account. Make sure you provide the proper and high quality documents, so your account can be approved as soon as possible. Please also check Documents required for account registration.
Our Compliance department reserves the right to request any additional documents in case of any inconsistency or improper documents for verification, as well further documents in case of policy changes.
Procedures we consider for profile verification:
1. Know your customer (KYC) refers to due diligence activities that financial institutions and other regulated companies must perform to ascertain relevant information from their clients to do business with them. The term is also used to refer to the bank regulation which governs these activities. Companies of all sizes also employ your “Know Your Customer” processes to ensure their proposed agents, consultants or distributors anti-bribery compliance.
2. AML Standing for Anti-money Laundering, it is a set of procedures, laws or regulations designed to stop the practice of generating income through illegal actions.
1. Canadian Residents include: Canadian citizens and foreigners residents in Canada with a valid permits, Visa, Permanent Residency or Citizenship cards.
2. If the instant verification is not possible, it might be because we have found a discrepancy with the information provided. Other reasons can include the client refreshing or leaving the page while the verification is being processed.
3. Please also check this information about Jumio and ComplyAdvantage.