Know Your Customer: IQeon introduces new security method

Инна Шман – IQeon

IQeon team is introducing KYC/AML. At the moment, the procedure will be optional for users, its implementation is a step towards the requirements of external regulators in relation to the gaming platform.

What is that?

Know Your Customer (“KYC”) is an action plan aimed at obtaining certain personal data about company’s customers.

Anti-Money Laundering (“AML”) is a set of measures aimed at preventing the legalization of income that was obtained illegally.

What is KYC for our platform?

For players, completing KYC procedure will not be an obligatory condition for entering the platform. A user will need to undergo a partial identification procedure in case when our platform receives a signal about a potentially illegal activity or activity with increased risks. An example is a series of suspicious transactions from a single user account. In this case, the user will receive a request to confirm that he has reached the age of legal capacity or that he is acting in a permitted jurisdiction.

Why is it important?

KYC/AML procedures guarantee the reliability of the platform, where criminals won’t be able to carry out illegal actions, as well as prove that the site is transparent and operates within the international legal framework.

The introduction of KYC/AML procedures is an important step for IQeon platform and a call  to society that we work transparently and adhere to the requirements of regulators. As before, we confirm that privacy of our platform users remains one of our top priorities. We are interested in implementing such protection mechanisms so that our users don’t fall victims to criminals. IQeon is a space of freedom and opportunities to monetize intellectual achievements, but we will never make our platform convenient for any illicit activity, - says Alexander Paramonov, the Chief Legal Officer at IQeon company.

The introduction of KYC/AML procedures is a truly positive trend. Such protection methods are an indicator of an honest and transparent project. This way we will enhance confidence not only of our users, but also government bodies.



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