Know Your Customer (KYC)
Discover the importance of KYC in customer verification. Learn how KYC processes can enhance trust and security. Start optimizing your procedures now.
An Open Letter To Clients and Potential Clients of TCT Members
Dear Valued Customers and Prospective Customers,
As part of our compliance with Section 326 of the USA Patriot Act of 2002, which obliges TCT The Commodity Traders B.V. to assist the government in preventing the financing of terrorism and money laundering activities, TCT is required to collect and verify basic identification information from you when you open a new account with us.
This means that our TCT staff will request some essential information from you to confirm your identity. The TCT staff will also ask you to present documents that prove your identity such as a social security card, driver’s license, passport, and/or any other official document issued by the government.
In some instances, we may also ask for identification from those individuals who have been doing business with TCT The Commodity Traders before the implementation of the member identification requirements. This is because we did not obtain original documentation when the account was opened or TCT is unable to establish a reasonable belief that it knows the true identity of the existing account holder.
In all situations, protecting our member’s identity and privacy is TCT’s commitment to you. We appreciate your cooperation and understanding as we all adhere to the new account identification procedures mandated by the federal USA Patriot Act of 2001. Before opening any new client account, we must conduct our due diligence in accordance with TCT The Commodity Trader’s "Know Your Customer Procedures".
The Board of Directors, Staff, and Members of
TCT The Commodity Traders, B.V.
USA Patriot Act [Section 326]
As part of the USA Patriot Act, Section 326, TCT The Commodity Traders must verify the identity of individuals who apply for membership or open new accounts or services with TCT. Depending on the type of account, additional information may be required as well. Existing members may also need to provide more information when they request a new product or service.
The USA Patriot Act also obliges TCT to keep all records of any documents used for identity verification for at least five years after an account is closed. TCT will protect the privacy and security of the information collected from members as stated in our Privacy & Security Policy.
To obtain a copy of the USA Patriot Act in its entirety please visit: https://www.fincen.gov/resources/statutes-regulations/usa-patriot-act
Please note that you need to complete a KYC form before you can access any of the official channels for transactions.
We have attached the KYC Application Form for your convenience. Please fill out the details and attach the verified copies of the documents mentioned in the Form.