I've had an account on this exchange for about a year and it is verified of course.I have a habit to verify my accounts on all the exchanges I am using.
Some time ago CEX asked to complete a new form for verification for passing the new procedure of KYC, the form includes 4 pages PDF which contains all the information not only about me, but also about my employer. So they have more than enough information to identify my personality. I was sure that they have received everything but then all of a sudden I received the following email:
Thank you for your cooperation and the form provided.
In order to complete the procedure, we kindly ask you to provide us with a bank statement that shows your funds movement for the last 2-3 months and your salary transactions (incoming transactions from your employer) shown in it to support information about your source of funds.
Also please provide us with screenshots that show your trading activity on other platforms and bank statement, which confirms your fiat deposits to mentioned platforms. We need to see your deposits, trade operations and withdrawals to CEX.IO. Please make sure that all of your accounts are identifiable.
We are looking forward to hearing from you soon.
Best regards,
Compliance Team
Here I got furious, as far as I know nobody has the right to see fund movements on my personal bank account without a special order from court.
What would you do? Would you provide such personal data to verify your account taking into account that this company doesn't provide you with any guarantee of keeping your personal data safe?
Dear torai,
Thank you for your post.
Please be informed that as a legal company, CEX.IO strictly follow KYC/AML policy. Thus, international and local regulations require CEX.IO to implement effective internal procedures and mechanisms to prevent money laundering, terrorist financing, drug and human trafficking, proliferation of weapons of mass destruction, corruption and bribery and to take action in case of any form of suspicious activity from its users. The users are known not only by verifying their identity but, more importantly, by analyzing their transactional patterns. Thus, we need to confirm source of funds of our users, understand nature of their relations with CEX.IO and main crypto funds usage scenarios. That is the reason why our Compliance team has requsted you to provide all the documents and information .
The procedure is rather standard but obligatory and shouldn't be neglected under any circumstances. Besides, following such strict security rules helps CEX.IO to support a strongly secured environment, so our users can feel comfortable and safe, using our platform.
In order to get more thorough knowledge as for our AML/KYC policy, we kindly advise you to check the followinf link:
https://cex.io/aml-kyc Please also pay attention to the clause 3.2 of our AML/KYC policy:
With regard to the AML/KYC Policy, CEX.IO will monitor all transactions and it reserves the right to:
-ensure that transactions of suspicious nature are reported to the proper law enforcement through the Compliance Officer;
-request the User to provide any additional information and documents in case of suspicious transactions;
-suspend or terminate User’s Account when CEX.IO has reasonably suspicion that such User engaged in illegal activity.
Please also rest assured that CEX.IO took all the necessary measures to ensure compliance with a high security standards as well as to provide safety of the stored data and our users' personal information.
We have obtained the internationally recognized security certificates, Level 3 PCI DSS among them. Compliance to these standards means that all the card data of users are thoroughly protected, which eliminates the risk of illegal activities.
CEX.IO exchange complies to highest security standards, including DDoS attack protection. An advanced encryption system helps us to ensure the safety of stored data.
Thus, our platform always guarantees the security of our user's funds and personal information.
Kindly let us know if you require assistance or need some additional clarififcation on your case and provide your user ID, we will be happy to help you.
Hope for your understanding and cooperation on this matter.
