What is the KYC form?

KYC (Know Your Customer) is a significant factor in preventing financial crimes and money laundering. Coinmotion Oy is legally obliged to know its customers. The customer undergoes the KYC process at the beginning of the customer relationship, and the situation is assessed annually through the KYC form.

Purpose of the KYC form:

  1. Gathering information required by the law on preventing money laundering and the financing of terrorism.
  2. Obtaining sufficient information about the customer's activities and the scope of their business.
  3. Understanding the basis for the customer's use of the service or product.

The purpose of the form is to help determine the customer's financial and investment risk profile to comply with Coinmotion Oy's legal obligations.

Customer identification information and other personal data may be used for preventing, detecting, and investigating money laundering and the financing of terrorism, as well as initiating investigations into the crime of money laundering or the proceeds of crime used in money laundering or the financing of terrorism. Customer identification information or other personal data obtained solely for the purpose of preventing and detecting money laundering or the financing of terrorism will not be used for any other purposes.

Why do we collect KYC information?

We collect KYC information to fulfill the obligations brought by Anti-Money Laundering (AML) legislation regarding customer identification. According to the requirements, Coinmotion Oy must also identify the origin of the funds invested by its customers. Access to Coinmotion Oy's services is subject to the proper completion of these checks. The customer is required to fill out the KYC form once a year, and the customer automatically receives the form in Coinmotion for updating information.

By filling out and returning the KYC form to Coinmotion Oy, you confirm that all information provided on the form and any documentation submitted with the form is genuine, complete, accurate, and free from errors, and no material information has been omitted or withheld. Coinmotion Oy reserves the right to request additional documents related to KYC information.