CoinField's

AML & KYC Policy

1. AML Policy Security 2. KYC
  1. Anti-Money Laundering (AML) Policy

    2. Manticore Labs OÜ.,(“CoinField, “we” or “us”), has been registered with the Financial Intelligence Unit (FIU) and follows all the requirements set by the FIU and other law enforcement agencies. The registration code is 14719663. Providing services of exchanging a virtual currency against a fiat currency, and Providing a virtual currency wallet service, License number: FVT000111

    Compliance program requirements under the Proceeds of Crime (Money Laundering and Terrorist Financing Prevention Act (MLTFPA).

    In accordance with the prescribed legislative requirements, CoinField has certain record keeping, identification and reporting requirements. Our compliance program:

    • Compliance officer: The appointment of a chief anti-money laundering officer to supervise the AML/KYC team
    • Compliance policies and procedures including: AML/Compliance policy, Executing Know Your Customer (“KYC”) procedures, Ongoing monitoring and business relationship, Record keeping requirements, Transaction reporting requirements
    • Risk assessment to evaluate all risks related to money laundering and terrorist financing
    • Ongoing compliance training program for our AML/KYC Compliance team
    • Two-year effectiveness review of our Policy

    For more information on our AML/KYC policy, please send an email to compliance@coinfield.com

  2. Know Your Customer (KYC) Policy
    1. Individual Accounts Verification

      2. We verify the identity of all users through one of the following methods:

      • Automated Verification (In partnership with Jumio) - We have partnered up with Jumio to verify the identity of each users automatically in order to save time. To be verified, the credit file details must match the name, date of birth and address provided by an individual client. If any of the information does not match, the verification process has to be done manually by one of our KYC officers.
      • Manual Verification (By our KYC team) - If the automated verification is failed, the file will be sent to our compliance team to be reviewed carefully. As part of the account sign up process, all our clients are asked to upload to our site a government-issued photo ID, Selfie photo with a signature. Our compliance team may ask for any additional documents such as proof of address or a second ID. All documents must appear to be valid and unaltered in order to be acceptable. If any information has been redacted, it is not acceptable.
    2. Corporate Accounts Verification

      3. For Institutional clients, we are obligated to confirm the existence of the entity, and the entity's beneficial ownership.

      In order to confirm the existence of a corporation as well as the corporation's name and address, we require the following documents:

      • Original Certificate of Incorporation and Business Registration,
      • Memorandum and Articles of Association, aka Operating Agreement, Constitution, By-laws (which defines company structure and management policy),
      • An official Company Report which was issued within the last year, including a list of current directors (until natural person), a list of ultimate beneficial owners (until natural person), their nationalities/jurisdictions, their passport number, and their percentage of holdings, etc.
      • A URL of Government website containing your company details that verify the authenticity of registration
      • Completed the CoinField signup application form.

      We will also ask some questions about your business such as:

      • How did you accumulate these funds?
      • Your estimated monthly volume?
      • Is your business cash-intensive?
      • Are there any nominee shareholders owning over 25%?
      • Please state if any of the mentioned above are PEP’s? (PEPs in the financial world means, "Politically Exposed Person)