Firstly, I just wanted to introduce myself to you, I am Paul Munson the new Head of Compliance and MLRO (Money Laundering Reporting Officer) at Solidi. My job is to ensure everything we do at Solidi meets UK regulatory requirements and the Money Laundering Regulations.
These regulations are designed to keep you safe by stopping criminals channelling their money through the financial systems. This makes it much harder for criminals to use the money they have obtained to buy a car or a house – ultimately working toward the mantra that ‘crime doesn’t pay’.
From time to time we may ask you to provide us with extra information to support your transactions or to manage your account. We do this as we have to be comfortable that we understand the source of funds you use when buying cryptocurrency.
You may not be comfortable sharing this type of information for example copies of your bank statements but unfortunately without it it’s difficult for us to offer you our services in some circumstances.
The issue that drives this is the fact that crypto is still a relatively new industry and not well understood by those in government or the FCA and Banks and they are still cautious about it and ask for documentary evidence to support some transactions.
We at Solidi can ensure you anything you do share with us is kept in strict confidence and used only for these purposes.