KYC (Know Your Customer), or knowing your customer, is a significant factor in creating a functional and secure customer relationship. Coinmotion Oy is legally obligated to know its customers.
The customer goes through the KYC process at the beginning of the customer relationship, and the situation is reviewed annually using a KYC form.
Purpose of the KYC Form
- To verify and confirm the customer's identity
- Obtain sufficient information about the customer's activities and the scope of their business
- Understand the customer's reasons for using the service or product
- Statutory risk assessment
The purpose of the form is to help determine the customer's financial and investment risk profile in compliance with Coinmotion Oy's statutory obligations. The KYC reporting requirement applies to nearly all banking and financial industry entities, making it a very routine procedure. If you encounter any issues while filling out the KYC form, or if you have any other questions related to it, please contact our customer service.
Why do we collect KYC information?
We collect KYC information to fulfill the obligations imposed by AML (Anti-Money Laundering) legislation regarding knowing your customer. According to the requirements, Coinmotion Oy must also identify the origin of the funds invested by its customers. Obtaining access to Coinmotion Oy's services requires the proper completion of the aforementioned checks. Customers must complete the KYC form once a year. Customers will automatically receive the form to fill out in Coinmotion for data updating.
By completing and returning the KYC form to Coinmotion Oy, you confirm that all the information you provide on the form and the documents you submit in connection with the form are genuine, complete, accurate, and error-free, and that no essential information has been omitted or left unsubmitted. Coinmotion Oy reserves the right to request additional documents related to the KYC information.