KNOW YOUR CUSTOMER (KYC) PROCEDURES ARE A CRITICAL FUNCTION TO ASSESS AND MONITOR CUSTOMER RISK AND A LEGAL REQUIREMENT TO COMPLY WITH ANTI-MONEY LAUNDERING (AML) LAWS.
“KYC” refers to the steps taken by a business to:
- Establish customer identity
- Understand the nature of the customer’s activities (primary goal is to satisfy that the source of the customer’s funds is legitimate)
- Assess money laundering risks associated with that customer for purposes of monitoring the customer’s activities
Identification of financial beneficiaries, and beneficial owners, as they are customers of financial institutions (which encompasses cryptocurrency exchange services). Besides initial identification, this information must also be regularly updated.
Strict compliance of KYC policies protects financial institutions and their customers from suspicious money and transaction activities. As transaction security is one of the main priorities of the RegerDiamond ecosystem, we must identify our customers and verify their provided information. In exceptional cases, where a high risk customer is identified, Invest Diamond s.r.o. reserves the right to reject access to the exchange platform without giving a reason. KYC Procedure For customer identification, copies of the following documents are required:
(a) page of the international passport with the photo, indication of the full name, nationality, date and place of birth, date of issue and expiration of the passport, its number, country issuing the passport and signature or a copy of another document (ID card/ driver’s license) containing the above information;
(b) invoice for utility services (for example, electricity, telephone, etc.) or a bank statement indicating the date (not earlier than three months before the date of provision of the bank statement), registered name, permanent place of residence and mailing address;
(c) a copy of their bank card;
(d) a selfie in which the face and passport of the customer can be clearly seen; and
(e) copies of constituent documents (account identification for legal entities). INVEST DIAMOND S.R.O. also reserves the right to rely on the identification carried out by INVEST DIAMOND S.R.O. partners (payment systems) or engage third party specialized services (CIVIC, IDnowIdent, etc.) to carry out its KYC procedure.
All documents requested for the KYC procedure shall be provided to INVEST DIAMOND S.R.O. or its partner company. Furthermore, during the rendering of services, INVEST DIAMOND S.R.O. is entitled, based on the KYC policy, to request from the customer any documents to restore the account’s functionality, or confirm any other actions or operations. INVEST DIAMOND S.R.O. reserves the right to reject customer requests unilaterally and/or terminate further rendering of services to dishonest customers without giving reasons. To ensure mutual confidence, INVEST DIAMOND S.R.O. guarantees its best efforts to keep customer information confidential.
INVEST DIAMOND S.R.O.
Main office: Na Morani 360/3, 12800, Prague, Czech Republic
Production place: Oderska 333/5, 19600, Impera Indusrial Park, Prague, Czech Republic
PO BOX: Praha, PSC 110 00, Czech Republic.
VAT ID : CZ06845797
CEO: Vladislav Reger +420 228 880 190