Initial Coin Offering (ICO)
ICO KYC and ICO AML: Protect Your ICO with IdentityMind for Token Sale
ICOs (Initial Coin Offerings) or Security Token offerings are a great way to fund and expand your business. But, you need to comply with money laundering regulations, including blocking certain geographies and individuals. You know you need to do something, but what? And, how do you do it without turning away customers, getting sued, or getting shut down by various governments? ldentityMind can help.
IdentityMind provides a plug-in software solution that handles the necessary Anti-Money Laundering (AML) requirements, including KYC (Know Your Customer), required to launch your ICO around the world. It ensures that your ICO meets the existing legal requirements, demonstrating to regulators you’re doing the right thing. With our extensive digital currency, regulatory, and risk management knowledge, we can make this part of your ICO a whole lot easier.
You receive a pre-configured plug-in that will:
- Know where your contributors are coming from. Preventing geographies or regions you cannot, or do not want to, work with
- Perform risk based KYC, complying with regulations of various governments (US, Canada, China, and others)
It’s Easy to Do the Right Thing
IdentityMind has a pre-configured plug-in that takes into consideration all published guidance.
Do what’s necessary without impacting sign-ups.
Stay Out of Trouble
Regulators are following ICOs. IdentityMind provides realtime KYC & risk analysis of your contributors via proprietary data and 20+ services including sanctions screening, name and address validation, phone verification, device analysis, IP analysis, and document validation + facial match.
Broaden Your Contributor Base
Our platform uses digital identities that help you ensure the same person is not making multiples purchases, understand the reputation of each of your contributors, and accept as many as possible while still complying with the law.
Simple Setup, Faster Process Time
We’ll get you up and running quickly. With Swagger documentation, a RESTful JSON APl, and a staging environment, integration can take less than 24 hours. And, our rules, case management, and alerts allow you to authorize contributors based on your specific thresholds, so you can quickly review users and escalate as required.
A SAFT requires you to validate your contributors are accredited investors. IdentityMind can help connect you to a review service that approves contributors in a timely manner.
“IdentityMind had everything we needed to ensure our token sale was conducted lawfully and in accordance with worldwide rules and regulations. We were up and running in less than 72 hours. We are fully compliant and appeal to a wider range of contributors.”
– Roderik van der Veer
CTO and Co-founder
- Know where contributors are coming from
- Validate and corroborate IP Address, Name & Address, Government Documents
- Automated, risk-based KYC
- Regulation already configured by country
- Ability to validate contributors worldwide
- Easy plugin – simply copy & paste 47 lines of code
- Conduct enhanced due-diligence
- Prebuilt reports for regulators
- Source of funds risk rating to prevent money laundering from known bad wallets
- Velocity analysis to prevent illegal behavior
- Risk scoring on source of funds to prevent contributors that will bring regulator attention
- Streamlined UI for easy manual review and reporting of suspicious transactions
- Turn-key solution that provides KYC AND accredited investor validation
ICOs are very new, and regulations worldwide are still developing. Hover over orange countries to see what the regulatory environment for ICOs is like there. Grey countries have not yet commented on ICO legislation.
Slide Deck: 19 Regulatory Insights for ICOs Worldwide
We’ve distilled the 19 key insights our panel shared at a webinar in late 2017. For each jurisdiction, we share with you:
The existing legal framework
Key areas of note for ICOs
Regulatory analysis, through a rigorous Q&A
Recently, Coindesk published an article stating, ”The ICO is over”. What we’ve found, in the words of Mark Twain, "The reports of my death are greatly exaggerated." We have signed almost 200 ICOs, in fact, 10% of ICOs who conduct Know Your Customer (KYC) and...
"Neal Reiter is responsible for leading IdentityMind’s Anti-Money Laundering (AML) and Fraud Prevention product offering. IdentityMind provides software that assists financial institutions, money transmitters, and money service businesses, including Bitcoin exchanges,...
Where are our client’s ICOs registered? Where are their contributors. What do our match rates look like versus the norm? Get some interesting ICO stats from IdentityMind’s ICO clients.