8. CUSTOMER IDENTIFICATION
It is the Company’s policy to ensure that it has reasonably identified each customer who uses the Company’s virtual currency exchange platform. Users may be identified using a variety of methods.
8a) Proof of Identification:
8a.1) For individuals:
- Name (to indicate name as per the official Identification document).
- Date and place of birth.
- The client age has to be above eighteen (18) or the legal age for entering legally binding contracts under applicable laws. However, for there is an exception for the Singapore whereby the client has to be above the age of (21) or the legal age for entering legally binding contracts under applicable laws.
- A clear Photo(s) should be taken e.g. a selfie (this is to validate the authenticity of all/any of the photo identification provided) by the customer, with the customer holding the ID document. This applies to all customer of the company.
- Proof of Residence and mailing address need to be not more than 3 months.
- However, in relations to countries/regions/locations in which the PO box is their only address available. Further due diligence will be taken in which additional documents will need to be provided as provided below.
- Official issued identification number (e.g., passport number, social security number, employee identification number or individual taxpayer identification number).
- Copy of valid photo identification of the principal(s) involved with the account e.g. Driving license (if contains photograph of individual), armed forces identification, passport, alien identification card/work permit) in which will include the front and back of the identification document; (note* in addition this is a compulsory requirement).
- A copy individual’s birth certificate (this is a non-photo-based document is some/all) countries.
For all Passports/Identity Documents ensure the following
- The document is valid and shows the issue and expiry dates.
- The photograph is clear and all features are visible.
- The page showing signature is included.
- The place of issue and passport number details are included and are clearly legible.
- Nationality details are included.
- For national ID card, driver’s license (if contains photograph of individual), Armed Forces ID Card both the front portion and the back portion of the card will need to be provided.
- A copy individual’s birth certificate (this is a non-photo-based document is some/all) countries in which has to be sealed with an apostille for valid identification.
Proof of residential address documents must show the name of the customer opening the account (documents showing joint names for couples are acceptable). Further the address has to be the same on all the received documents and need to be not more than 3 months.
This is a Compulsory document need to be not more than 3 months old.
- Bank or building society statement from a financial institution which is, in the opinion of the company (in its absolute discretion), reputable.
And one of the followings in which need to be not more than 3 months old:
Valid, full driving license (unless already provided as proof of identity)
- Utility bill (such as gas, water, electricity, although NOT a mobile phone bill).
- Television license.
- Home or motor insurance policy document or certificate (or equivalent).
- Council tax (or equivalent) bill.
- Solicitor’s letter confirming house purchase; proof of previous address must be supplied (only acceptable for customer in between property
moves).
- Rental Tenancy Agreement which has been officially stamped, signed and verified.
- Letter or any document from the university/college/or any agency which shows.
hostel/residence has been facilitated to the customer which shows the current address not more than 3-month-old
8a.2) Customer with PO Box Address*
a) This is a Compulsory document need to be not more than 3 months old. Further the PO Box address has to be the same on all of the received documents:
- Bank or building society statement from a financial institution which is, in the opinion of the company (in its absolute discretion), reputable.
b) Note: For individual customer whom, the PO box is their only address available. It is Compulsory to provide a minimum of two of the
followings in which need to be not more than 3 months old:
- Utility bill (such as gas, water, electricity, although NOT a mobile phone bill).
- Television license
- Home or motor insurance policy document or certificate (or equivalent).
- Council tax (or equivalent) bill.
- Solicitor’s letter confirming house purchase; proof of previous address must be supplied (only acceptable for customer(s) in between property
moves).
- Rental Tenancy Agreement which has been officially stamped, signed and verified
- Letter or any document from the university/college/or any agency which shows
hostel/residence the current PO Box address.
8a.3) Customer who Share an Address with Another Person*
If you share an address with another person, like your parents or a housemate, you can ask them to sign an affidavit and submit it along with the following:
a) Passports/Identity Documents of the parents or a housemate as per (8a.1) For individuals.
b) A valid proof of address document as below which need to be not more than 3 months old:
- Utility bill (such as gas, water, electricity, although NOT a mobile phone bill).
- Television license.
- Home or motor insurance policy document or certificate (or equivalent).
- Council tax (or equivalent) bill.
- Solicitor’s letter confirming house purchase; proof of previous address must be supplied (only acceptable for customer(s) in between property moves).
- Rental Tenancy Agreement which has been officially stamped, signed and verified.
- Letter or any document from the university/college/or any agency which shows.
- hostel/residence has been facilitated to the customer which shows the current address.
c) With the signed and certified copy of the affidavit (Please click here for the affidavit form).
d) For customer with PO Box Address please refer to point (8a.2) for information.
8a.4) For Customer(s) Foreign Resident, Not a Local Citizen*
a) Valid government-issued residence permit/visa, which should be one of the following types and document need to be not more than 3 months old:
- Proof of Residency
- Business or
- Permanent or
- Refugee or
- Spousal or
- Study or
b) This is a Compulsory document need to be not more than 3 months old. Further the PO Box address has to be the same on all of the received documents:
- Bank or building society statement from a financial institution which is, in the opinion of the company (in its absolute discretion), reputable.
c) A valid proof of identity document and document need to be not more than 3 months old:
- Utility bill (such as gas, water, electricity, although NOT a mobile phone bill).
- Television license.
- Home or motor insurance policy document or certificate (or equivalent).
- Council tax (or equivalent) bill.
- Solicitor’s letter confirming house purchase; proof of previous address must be supplied (only acceptable for customers(s) in-between property moves).
- Rental Tenancy Agreement which has been officially stamped, signed and verified
- Letter or any document from the university/college/or any agency which shows
- hostel/residence has been facilitated to the customer(s) which shows the current address.
d) For customer(s) with PO Box Address please refer to point (8a.2).
Politically Exposed Persons*
Politically exposed person” (PEP) is a term describing someone who has been entrusted with a prominent public function. A PEP generally presents a higher risk for potential involvement in bribery and corruption by virtue of their position and the influence that they may hold.
Senior Public Figure is defined as a senior official in the executive, legislative, administrative, military or judicial branches of a government, whether or not elected, a senior official of a major political party, or a senior executive of a government-owned or government-funded corporation, institution or charity. A “Senior Public Figure” also includes any entity that has been formed by or on behalf of a Senior Public Figure, in which the Senior Public Figure is a beneficial owner of at least twenty-five percent of the entity. In addition, a “Senior Public Figure” includes the immediate family of a Senior Public Figure and any close associate or relative of a Senior Public Figure. A close associate is a person who is widely and publicly known to maintain an unusually close relationship with and able to conduct financial transactions on behalf of a Senior Public Figure.
The company cannot take on such an individual or their family member, close relative or known a person of the PEP or SPF as a customer without the consent from the Company’s Board or/and compliance officer(s).
In addition, the prospective customer will be required, at customer take on stage, to provide information, with supporting evidence of their source of wealth:
- Their current salary and other income; and
- Their liquid assets (including cash and investment portfolio).
- Further documents as per 8a.1 to 8a.4 (whichever is applicable) For individuals.