Identity verification stage in STO project

macau.bank (54)in #sct • 5 years ago

■ KYC and AML

The meanings of KYC and AML are as follows.

Every major terrorist incidents strengthen AML provisions in financial transactions. The terrorist threat is a global problem that needs to be addressed at the international level. The role of the finance is to prevent terrorist financing and to verify its identity to prevent money from entering dangerous people.
The FATF[Financial Action Task Force International Organization] began responding to terrorist financing by introducing nine special recommendations following the terrorist attacks on New York. Later in 2016, a comprehensive counter-terrorism financing strategy would be created. This was a major reason for the Paris terrorist attacks in November 2015, and the result of FATF's acceptance of the G20 and the international community.
It is true that we have to prepare the KYC / AML process considering the response of the international community in order to do business.

KYC is a smaller concept step to prevent AML. You will need to verify your identity, verify your identity, fill in your email and phone number.
AML is to prevent the use of money such as crime, drugs, and tax evasion as 'black money'. In a financial transaction, it is checked all over the world whether it is a real owner or what is the purpose of opening an account.
If the size or pattern of the transaction is determined to be an abnormal transaction, confirmation is made. Even now, cross-country cooperation and cooperation with international organizations to prevent money laundering continue to intensify.

■ KYC / AML in Real Asset Tokenization

In the real estate area, such as real estate and expensive art, the amount of funds is large, and various institutional arrangements are necessary. That's why there is no reason to reject the policy of various institutions trying to control the crypto market.
At the STO stage, the KYC / AML certification process is very active. If you are open to your status or if you are reluctant to be certified, you will have to reconsider your participation. If you think KYC / AML violates the anonymity-based cryptocurrency or blockchain spirit. However, many projects will continue because the STO can be positioned relatively safely within government regulation and protection.