Effective Date: 20/09/2024

Monnaris.com is owned and operated by GLOBAL Markets LLC with registration number 3796 LLC 204 and registration address of Euro House, Richmond Hill Road, Kingstown, St. Vincent and the Grenadines.

At Monnaris.com, we are committed to ensuring that our services are not used for illegal purposes, including money laundering or financing terrorism. To support this, we have established a comprehensive Know Your Customer (KYC) policy in compliance with global regulations. Our goal is to verify the identity of all our customers to prevent fraud and other illegal activities.

This KYC policy outlines the procedures and requirements for customer verification, which helps us protect both our customers and our platform. By registering for and using our services, you agree to comply with our KYC policy.

1. Purpose of the KYC Policy

The purpose of this KYC policy is to:

• Ensure compliance with local and international anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.
• Verify the identity of our customers and assess the risk of illegal activity associated with their accounts.
• Protect Monnaris.com from being used for fraudulent or criminal activity.
• Comply with regulatory authorities’ requirements and maintain the integrity of the financial system.

2. KYC Requirements

To use certain services on Monnaris.com, you must undergo the KYC process. The following information and documents may be required:

• Full Name: Your legal name as per government-issued documents.
• Date of Birth: You must be at least 18 years of age to use our platform.
• Address: Proof of your current residential address (e.g., utility bill, bank statement) dated within the last 3 months.
• Government-Issued Identification: A copy of a government-issued ID, such as a passport, national ID card, or driver’s license.
• Selfie/Face Verification: A recent selfie may be required to verify that the individual submitting the documents matches the submitted identification.
• Source of Funds: In certain cases, we may request additional documents or information to verify the source of your funds or wealth.

3. Customer Identification Procedure (CIP)

Monnaris.com will perform the following steps to verify your identity:

• Document Verification: We will verify the authenticity of the documents you submit (e.g., government-issued ID, utility bills). We use technology and third-party verification services to ensure the documents are legitimate and not fraudulent.
• Live Verification: A live video verification process or selfie may be required to confirm that the individual submitting the KYC documents is the rightful owner.
• Cross-Referencing: Your submitted data will be cross-referenced with global sanction lists and databases of politically exposed persons (PEPs).

4. Risk Assessment

We adopt a risk-based approach when verifying customers. For higher-risk clients or transactions, such as those involving high-risk countries or large transactions, additional verification steps or enhanced due diligence (EDD) may be required.

5. Politically Exposed Persons (PEPs)

We apply additional due diligence when dealing with Politically Exposed Persons (PEPs). A PEP is an individual who holds or has held a prominent public position (e.g., government officials, diplomats, or senior executives in state-owned companies) or someone with close family or professional ties to such individuals.

• If a customer is classified as a PEP, we may request more extensive information about their sources of wealth and funds.
• The transaction activity of PEPs is subject to additional scrutiny and ongoing monitoring.

6. Ongoing Monitoring

After the initial verification process, Monnaris.com continues to monitor customer activity. This includes:

• Transaction Monitoring: Regular monitoring of customer transactions to detect suspicious patterns or inconsistencies with their known profile or trading behavior.
• Risk Profile Updates: If your risk profile changes (e.g., a change in the source of funds or business activity), you may be asked to provide additional documents or information.
• Review of Transactions: We monitor for unusual or high-risk transactions, such as large deposits or withdrawals, or activities involving high-risk jurisdictions.

7. Enhanced Due Diligence (EDD)

In cases of higher risk or suspicion, Monnaris.com may apply Enhanced Due Diligence (EDD), which involves:

• Gathering more detailed personal, financial, and business-related information.
• Requesting more proof regarding the origin of funds or wealth.
• Scrutinizing transactions more closely, especially if they involve high-risk countries or large sums of money.
• Regularly updating the customer’s risk assessment profile.

8. Data Privacy and Security

Monnaris.com is committed to protecting your personal information and maintaining your privacy. We will:

• Use secure encryption technologies to protect your personal and financial data.
• Only use the information collected for KYC purposes and comply with data protection laws.
• Retain your information only for as long as required by law or for legitimate business purposes.

9. Non-Compliance

Failure to comply with the KYC requirements may result in:

• The suspension or restriction of access to certain services on Monnaris.com.
• The termination of your account if we are unable to verify your identity.
• In some cases, we may report suspicious activity to the relevant authorities.

10. KYC Review and Updates

We conduct periodic reviews of customer accounts and may ask you to update your KYC information. This can include:

• Updating expired documents (e.g., expired IDs or addresses).
• Providing additional details about your financial activities, particularly if there is a change in your profile or activities.

11. Customer Responsibility

As a customer, you are responsible for ensuring the accuracy and completeness of the information and documents you provide. Monnaris.com is not responsible for any delay or issue resulting from inaccurate or incomplete KYC submissions.

12. Compliance Officer

We have designated a Compliance Officer who is responsible for overseeing the KYC process and ensuring compliance with this policy. The Compliance Officer will also handle inquiries or concerns related to the KYC process.

13. Policy Review

This KYC policy will be reviewed periodically to ensure its effectiveness and compliance with applicable laws. Any updates to the policy will be communicated to you through the platform.

14. Contact Information

If you have any questions or need assistance with the KYC process, please contact our compliance team:

Email: [email protected]
Support Page: Contact Us