CoinfloorEX models regulatory best practice and is preemptively compliant with regulatory guidelines to ensure the security and limit counterparty risk for our clients and their funds. As part of the application process, all prospective CoinfloorEX customers must complete our Know Your Customer (KYC) and Anti-Money Laundering (AML) verification processes. This process requires you to provide proof of identity and pass verification checks. Opening a CoinfloorEX account is similar to opening a current bank account. In the financial services industry, these procedures are standard.
It is CoinfloorEX’s responsibility to safeguard its services from being used for money laundering and the facilitation of terrorist financing. For this reason we require all of our customers to go through an application and verification process to become a CoinfloorEX client before they are formally engaged with CoinfloorEX through any form of contract or transaction.
The documentation submitted for each client application receives a thorough visual inspection and client details are run by various databases to confirm their existence. The database enquiry does not have any impact on a client’s credit score and will not impair your ability to raise credit.
Our procedures are regularly revised and adjusted to minimise the impact to our clients and improve our overall service. We hope that, after going through the registration and verification procedures, our customers will have peace of mind using our services. All other involved parties have proven their integrity to an equal level, and that they can trust CoinfloorEX to ensure uninterrupted operation.