ANTI-MONEY LAUNDERING and KYC POLICY

POLICY STATEMENT

These are the Anti-Money Laundering (AML) Policy and Procedures adopted by COIN CONSULTING  in compliance with The Money Laundering, Terrorist Financing, and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR).

As used in this AML Policy: Coin consulting Ltd, registered within the England and Wales Companies Registrar under the number 12230509, 2nd Floor, College House, 17 King Edwards Road,
RUISLIP, London, HA4 7AE, UNITED KINGDOM.

Anti-money laundering procedures

Coin consulting shall take a risk-based approach in monitoring the financial activities of its clients, this will be carried out whilst preparing the accounts or tax returns, or conducting any other business with the client.  Also, it actively prevents and takes measures to guard against being used as a medium for money laundering activities and any other illegal activities.

The business will actively not accept high-risk clients that are identified by his Anti-Money Laundering Policy adopted in compliance with Money Laundering Regulations and anti-fraud strong requirements.as follows:

  • No cash transaction are accepted
  • Unusual patterns of transactions that have no apparent economic or visible lawful purpose.
  • Clients with larger one-off transactions, or a number of transactions carried out by the same customer within a short space of time.
  • Clients conducting business in or through, a high-risk jurisdiction, or a jurisdiction with known higher levels of corruption, organized crime or drug production/distribution or terrorist activity
  • Whenever there is cause for suspicion, the client will be asked to identify and verify the source or destination of the transactions, whether they be individuals or company beneficial owners.

KYC for buying & selling cryptocurrency in UK

Although cryptocurrency brokering is not a regulated activity in the UK, ccapplies high standards to know-your-client and anti-money-laundering procedures. The business has established a Know-Your-Client (KYC) policy to ensure that the identities of all new and existing clients are verified to a reasonable level of certainty.

The identities of all new and existing clients will be verified by:

  • Current Valid UK or EU Driving License or Resident Permit or Valid passport(Front and Back side)
  • Photograph of the individual holding his identity card
  • Buyers ID must match the one provided to the exchange marketplace where the transaction request was initiated