At CoinField, we ensure that we are fully compliant with local and international KYC & AML regulations.
For all Clients, we’ve partnered with Jumio for our online identity verification process. If your verification is returned as successful, you will be instantly approved to Pro (Level 6). However, a manual review by our Compliance team is still necessary in order to fully approve your account. If Jumio cannot confirm the identity of the user, our KYC officers will take over the file and process it manually.¹
We have also partnered with ComplyAdvantage for further verification. If this is still not successful, then our Compliance team will review the client’s information and documents before final approval.²
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 the final approval of the account. Make sure you provide the proper high-quality documents so your account can be approved as soon as possible. You may also check Documents required for account registration for more information.
Our Compliance Department reserves the right to request any additional documents if they find any inconsistencies or improper documents that were submitted. We can also ask for further documents if our policies change.
Procedures 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 is a set of procedures, laws, or regulations designed to stop the practice of generating income through illegal actions.
1. If 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.
2. Please also check this information about Jumio and ComplyAdvantage.