TRACETO: THE BEST KYC PLATFORM FOR CRYPTOCURRENCY TRADERS

capableuwa (44)in #ico • 6 years ago

UNDERSTANDING THE BASIS OF KNOW YOUR CUSTOMER
In the world today, it can be seen that the financial sectors such as banks and other big company which contribute to the world economy in one way or the other have become big supporters of the Know your Customer. This is widespread and rampant in the banking institutions, insurance agencies, credit card companies and the Pension board require their customer to go through a strict KYC process with detailed information submitted to them in order to ensure that they are not involved with theft, bribery, money laundering, corruption and other insignificant activities that might bring down the name of the companies. On the other hand; Banks and companies of all sizes have become big supporters of KYC. It is increasingly common for banking institutions, credit companies, and insurance agencies to require that their customers provide them with detailed information in order to ensure that they are not involved with corruption, bribery, or money laundering. Know your customer which can also be called 'know your client' or 'KYC' is one of the process of a business identifying and verifying the identity of its clients and customers. The term is also used to refer to the bank and anti-money laundering regulations which governs these activities. The Know your customer processes are also employed by companies of all sizes for the purpose of ensuring their proposed agents, consultants, or distributors are anti-bribery compliant. Banks, insurers and export creditors are increasingly demanding that customers provide detailed anti-corruption due diligence information. The Standard Objectives of KYC is to prevent and restrain criminals free access to banks. It is done by enabling the banks to understand their customers and their financial dealings. KYC help the financial sector manage their risks and threat activities. In the banking Sector, banks usually deployed their KYC terms and conditions by using the key steps enumerated below: Risk Management, Customers Identifications, Customer Acceptance, and Monitoring of Transactions. The Policies regarding KYC have been generally accepted and have been expanding across the globe. With the way corruptions is emanating in the world, KYC have become so important to cut short and reduce the rate at which this corruption occur to its minimal with all the procedures the companies set aside for the KYC Processes. Using the Banking Sector as an example, research have it that the banking sector compare the list of individual that are known for corruption in a sanction list, the crimes the individual is related with and also look if this is politically exposed or not. With the deduction from the banks, they then quantifies how much the risk of their client appear to be and how likely this is going to have a negative impact in the bank, after the calculation have been made, the bank then outline the client or customers account in line with the risk and then constantly monitor the activity in the account and make sure that nothing appears to be suspicious as regards to that in the customer's account.
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Why does Know Your Customer help?
It is important for clients to go through the exercise and it is also important as it ensures that any agent, distributors, customers as the case maybe are in compliant with Money Laundering Laws and the Anti-Bribery laws and regulations. KYC protect an individual from any potential risks ahead such as being a victim of fraud or any other reputational damage from working with those whom are guilty and involved in unlawful activities.

KYC IN CRYPTOCURRENCY
Know your customer in cryto related activities have encounter different challenges in one form or the other. This challenges are false assumptions that an unknown individual overrides the need for CTL and AML regulations, low proportions of compliance allocated due to its priority cost center, insufficient budget. With all this, the TRACETO PLATFORM main aim is to provide a swift and easy solutions to all this problem enlisted above.

WHAT IS TRACETO?
The TRACETO is a register technology company, founded and based in Singapore. It is a subsidiary of Cynopsis Ltd and it focus is to help customer with regulatory bodies requirement. TRACETO Platform KYC service provider help companies to answer questions such such, who are you? who are you not? are you still who you say you are? what did you do? and all other related questions involved. TRACETO provides a detailed solution to cryptocurrency traders at large by deploying the smart contract and artificial intelligence technology. The TRACETO KYC Platform has over five decades of experience in dealing with KYC and all of that, therefore; it help to bridge the gap that exist between physical and virtual world KYC Processes.

ADVANTAGES OF THE TRACETO PLATFORM OVER OTHERS

THE TRACETO TOKEN INFORMATION
Token Ticker: T2T
Token Standard: ERC20 Compatible
Total Token Supply: 1, 000, 000, 000 T2T
Token Utility: Utility
Currency Accepted: Ethereum
SoftCap: 10, 000 ETH
HardCap: 30, 000 ETH
Price Per Token: 0.0000750 ETH