Zenodys - Know Your Customer (KYC) and Anti Money Laundering (AML) process

Mar 23, 2018 · 2 min read

This document explains KYC/AML standards and process for the Zenodys ICO.

In order to minimise potential risks and to comply with regulatory standards we plan to conduct strict, efficient and user friendly KYC processes.

Zenodys will use our partner’s (ICObox) Bookbuilding Platform called ICOS ID that offers an integrated KYC/AML solution and allows Zenodys and investors (you) to fully and conveniently meet their compliance and regulatory obligations.

KYC compliance check overview

  • KYC verification will be required before any specific action: fund deposits, token purchases, or receiving tokens during the token distribution; as well as limit access to the actions by age or country of residence.
  • You can complete the KYC verification online without leaving the platform or involving any paperwork. It is a quick and secure process that takes filling in some personal information, a photo of an identity document, and a selfie.
  • If you already successfully passed the KYC verification on another instance of the platform (and therefore has an ICOS ID), their profile is updated automatically.
  • The KYC compliance check for ICOS ID is run by a certified KYC provider Onfido registered with the Information Commissioner’s Office under the Data Protection Act 1998.

Checks run for KYC verification

When you submits their personal data for KYC verification, the following checks are run automatically:

  • Watchlist check. Checks the applicant against global watchlists including:
  • Government Sanctions Lists
  • Politically Exposed Persons Lists
  • Anti-Terrorism Watchlists
  • Anti-Money Laundering (AML) Watchlists
  • CIA Watchlists
  • Global Watchlist
  • Disqualified Directors
  • Identity check. Validates the identity details for accuracy.
  • Facial check. Matches the photo on the document with the selfie using advanced techniques to reduce the risk of impersonation fraud.
  • Document image check. Analyses the identity document image (using combined automation and manual uplift) and checks the document for being forged, digitally tampered with, lost or stolen.

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