Coinex-ltd collects and verifies the personal identification data of our account holders, while logging and tracking itemized statements of all the transactions that are carried out by our clients. Prior to opening an account with Coinex-ltd a valid form of government-issued identification (Driver’s License, State ID, or Passport), a proof of residence, and bank account information is required, along with your completed account application. Additionally, Coinex-ltd tracks all suspicious transactions of our clients, and transactions executed under non-standard trading conditions.
- All Coinex-ltdt client funds are held in separate, segregated accounts that are designated only for client deposits and withdrawals.
- Coinex-ltd Investment monitors funding from various bank accounts outside of the account holder’s home country.
- Coinex-ltd performs its actions on the basis of the anti-money laundering framework set forth by the Financial Action Task Force.
- Coinex-ltd neither accepts cash deposits nor disburses cash under any circumstances.
- Coinex-ltd does not accept third-party deposits of any kind.
- Coinex-ltd matches each deposit to the account name on file for that customer.
- Coinex-ltd reserves the right to refuse processing a transaction at any stage where it believes the transaction to be connected in any way to money laundering or criminal activity. In accordance with international law, Coinex-ltd is not obligated to inform the client if suspicious activity is reported to any corresponding regulatory or legal bodies.
ACCOUNT OPENING PROCEDURES – KNOW YOUR CUSTOMER POLICY (KYC)
Prior to opening an account, Coinex-ltd Investment shall document the identity, nature of business, income, source of assets, and investment objectives of each prospective customer.
While we welcome clients from all over the globe, governmental restrictions along with our company policies prohibit Masdar Investment from opening accounts originated from the following restricted and/or OFAC sanctioned countries:
|Burma (Myanmar)||Guinea Conakry||Senegal|
|Central African Republic||Iraq||Somalia|
|Cote d’Ivoire (Ivory Coast)||Kyrgyzstan||Syria|
|Democratic Republic of Congo||Lesotho||Togo|
|United States of America|| || |
ACCOUNT OPENING REQUIREMENTS AND FRAMEWORK:
Photo ID – The following are acceptable forms of photo identification:
- A valid passport
- A valid government ID, such as a Driver’s License or State ID
- A valid National Identity Card
*Please note that all photo IDs are verified through third-party compliance software.
Proof of Residence – The following are acceptable forms of proof of residence:
- A utility or phone bill, or a bank statement
- All proof of residences must be current and not outdated by more than 90 days
BANK ACCOUNT REQUIREMENTS
- All Coinex-ltdt account holders must have a valid bank or credit card account in their name
- The bank statement should show their name and the same registered address as their application
FUNDS WITHDRAWAL PROCEDURES
The withdrawal process at Coinex-ltd detailed below, is structured around strict guidelines to make sure that funds are securely sent back to their originating source.
- Coinex-ltd customers must complete a signed paper or digital withdrawal request containing their correct account information.
- The withdrawal form is submitted to the Coinex-ltd Accounting department for processing. The Accounting department confirms the account balance, verifies that there are no holds or withdrawal restrictions on the account, and then approves the withdrawal request, pending approval by the treasury team.
- The Coinex-ltd treasury team reviews all withdrawal requests approved by the Accounting department, verifying the original funds are withdrawn via the same method of deposit and to the account holder on file. The treasury team also examines the withdrawal request against the customer’s deposit history to make sure there is no suspicious activity, and verifies the bank account on file.
- Withdrawal requests approved by the Coinex-ltd Investment treasury department are sent back to the accounting department, and the funds are released to the client.
- In the event that a withdrawal is flagged for suspicious activity, the withdrawal is placed on hold, pending further investigation by Coinex-ltd management staff.
- Coinex-ltd Management partners with the treasurt team to see if further action needed and which, if any, relevant regulatory bodies