KYC / CIP Policy
Opulent Gold Group – Know-Your-Customer (KYC) & Customer Identification Program Policy
Purpose
This Know-Your-Customer (KYC) and Customer Identification Program (CIP) Policy establishes procedures for verifying the identity of each customer and preventing illicit use of Opulent Gold Group’s services. It aligns with FinCEN’s DPMS guidance and complements our AML Program.
Policy Overview
OGG is required to identify, verify, and maintain accurate records of all customers engaging in precious-metals transactions. KYC helps safeguard both the company and its clients from fraud, money laundering, and other financial crimes.
Identification Procedures
- Individual Customers:
Collect and verify full legal name, residential address, date of birth, and taxpayer identification number (SSN or EIN).
Acceptable identification includes a valid government-issued photo ID (driver’s license, passport, or state ID).
- Business Accounts:
Obtain the company’s legal name, principal place of business, EIN, ownership structure, and formation documents.
Identify and verify all beneficial owners with 25% or more ownership and one control person.
- Verification Methods:
Physical or electronic ID validation (document scan or secure upload).
Cross-reference with trusted data sources and OFAC/Sanctions lists.
- Enhanced Due Diligence (EDD):
Conducted for high-risk transactions, politically exposed persons (PEPs), international clients, or large cash orders.
May include verifying source of funds and requesting additional documentation.
- Record Retention:
Maintain KYC and verification records for at least five (5) years after account closure or final transaction.
- Privacy and Data Security:
All customer data is securely stored in compliance with OGG’s Privacy Policy and is not shared except as required by law.
Ongoing Monitoring
OGG monitors all active accounts for unusual behavior or changes in activity that could indicate suspicious activity. Transactions inconsistent with a customer’s normal profile are escalated to the Compliance Officer.
Customer Cooperation
Failure to provide adequate identification or documentation may result in delayed processing or denial of service. OGG reserves the right to refuse service to any individual or entity that does not meet identification or compliance requirements.
Contact
For inquiries related to customer verification or compliance matters, please contact:
KYC Department – Opulent Gold Group
620 Newport Center Drive, Suite 1100, Newport Beach, CA 92660
