Sunday, August 9, 2009

C-gold KYC Better than E-gold

Is the user verification system similar to e-gold where basically anybody (scammers, false identity, & etc) can open unlimited accounts? I believe it is what got e-gold in trouble with the U.S. law in the first place. Some experts may beg to differ. As informed by a C-gold representative at Goldage forums; unlimited accounts YES but without identity verification is a NO. C-gold claims it has a more strict KYC (know your client) system than e-gold. More about C-gold.

Quoted from the Chairman, C-gold representative at Goldage forums:

“While 'anyone' can indeed open 'unlimited' accounts, our KYC system is different from e-gold's insofar that everyone has to actually ID themselves. So if someone uses Donald Duck as name, and Disneyland as address, then he'll better come up with an American photo ID that shows a duck born some 80 years ago and a utility bill for Disneyland. If the photo then doesn't match Donald, we might ask for additional verification.”

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