1. What is Koobiz Trust & Safety?

Koobiz Trust & Safety is designed to enhance the protection of our clients and their businesses against fraud and financial crimes. To achieve this, we ensure that all information we hold is accurate, complete, and up-to-date. Changes in legal regulations may also require us to collect additional information that was not previously requested.

We will:

Review all client accounts to ensure documentation is complete.
Proactively contact clients to verify, update, or request any additional necessary information.

2. Requirements for Different Client Groups

Individual Clients

Typically, we require:

Proof of identity (e.g., a valid passport).
Proof of residential address.
In certain cases, additional supporting documents may be requested.

Corporate Clients

Document requirements depend on the size and business sector of the company. In general, we require:

Information on legal structure and business model.
Verification of Ultimate Beneficial Owners (UBO).
A list of countries where the company operates.

3. Data Protection Commitment

The sole purpose of collecting this information is to enhance the safety of Koobiz clients and systems against financial crime. We are committed to:

Protecting all data according to the highest security standards.
Using information solely for compliance and security purposes; it will never be used for third-party marketing.

4. Financial Crimes and Their Impact

What are financial crimes?

Financial crimes are unlawful acts aimed at obtaining money or assets, often through fraudulent means. Common forms include money laundering, sanctions violations, fraud, tax evasion, terrorist financing, bribery, and corruption.

Why should clients care?

Financial crimes can affect both individuals and businesses. Your cooperation is crucial for creating a safe and transparent transactional environment.

What are sanctions?

Sanctions are measures imposed by governments or international organizations (e.g., the UN, the European Union) to limit security threats and prevent illegal activities such as terrorism, drug trafficking, and arms trade. Sanctioned entities are publicly listed, e.g., on the OFAC Sanctions List.

Why are risks increasing?

The growing sophistication of global fraudulent activities requires us to enhance our client information review, management, and sharing processes. This protects you and maintains the safety and trustworthiness of all transactions.

5. Compliance Obligations and Providing Information

Why is it necessary to update information regularly?

In addition to protecting clients, Koobiz is legally obligated to maintain accurate, complete, and up-to-date records. Even if you have provided information previously, we may need to review and update it to mitigate potential fraud risks.

Required Information:

Certified copies or originals of proof of residential address.
Certified copies of identification documents (in some cases).
Information on Source of Funds and Source of Wealth.

What happens if information is not provided?

We are obliged to comply with regulatory requirements. If updated information is not received, we may be unable to continue providing services. Should you encounter difficulties or require more time, please contact us for timely assistance.

6. Guidelines for Document Certification and Submission

Who can certify documents?

Licensed bank directors/managers
Embassy, consulate, or high commission officials
Lawyers or Notaries Public
Judges
Certified actuaries in the issuing country
Accountants or tax advisors who are members of recognized professional bodies

Note: Original utility bills for address verification do not require certification, but these documents will not be returned.

Certification Requirements:

Documents must be certified within the last 3 months.
Documents should be in English, or accompanied by a certified English translation.

How to Submit Documents:

After certification, please submit the Personal Information Form along with your documents to:
7500A Beach Road, The Plaza #02-348, Singapore 199591
or via email: support@koobiz.com

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