Please note that the e-gold website will be offline as described below. Times provided are estimates only - actual downtime duration may be slightly shorter or longer.
e-gold Ltd. is pleased to announce the deployment of the next phase of its enhanced Customer Identification Program (CIP). All e-gold account Users are now required to submit documentation of identity and residential address. Each User must provide a Government issued photo ID and a second document, such as a utility bill, showing the address they supplied as part of their Point of Contact information. Images of the required documents can be electronically uploaded to the e-gold website. Document review will occur as rapidly as possible and we continue to ask for the patience of our customers, especially initially, as Customer Service staff works through the avalanche of data from existing e-gold Users.
As part of the e-gold Account provisioning process, e-gold now uniformly obtains the four essential identifying elements for a compliant CIP: the User's name, address, date-of-birth, and a government-issued personal identifying number such as a tax ID number. This latest system enhancement supports e-gold's ability to verify this data by either (or both) documentary or(/and) non-documentary means, and represents a significant milestone toward e-gold attaining full compliance with all applicable U.S. laws and regulatory requirements. Of equal significance, e-gold's robust CIP and impending Due Diligence procedures will aid in making e-gold a more secure environment for global eCommerce.
As previously noted, Users located in selected jurisdictions may also
experience additional service disruptions as licensing issues are
sorted out or, in the case of countries identified as posing an
increased risk of online criminal activity, until additional systematic
risk-based Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) measures
can be implemented.
e-gold Ltd. remains highly committed to offering a cost effective Internet payment system affording instantaneous settlement, free of chargeback risk, to customers around the world. We continue to be confident that a regulated e-gold rebuilt to a more systematic specification will be less hospitable to criminals, and more attractive to mainstream business use without being less accessible to those disregarded by legacy payment systems.
e-gold Ltd. is continuing to develop and deploy urgently needed system enhancements in order to achieve compliance with applicable U.S. laws and regulatory requirements. e-gold has registered with FinCEN as a money transmitting business, and is working with various U.S. state authorities to obtain licensing as a money transmitting business where required.
Licensing requirements vary from state to state and country by country. As e-gold completes this process, it is possible that Users residing in some jurisdictions may experience service disruption. We ask for your patience, and assure you we are working diligently to complete this sometimes complex process of licensing as soon as possible.
Another major focus of our efforts is a robust Customer Identification Program (CIP).
As a step towards improved customer identification, e-gold is requiring all Users to update their Point of Contact Information to a consistent format, in addition to providing their Date-of-Birth and Personal Tax Identification number. This improved quality of identifying information is being obtained in preparation for the next-stage CIP, which will include the collection of electronic images of documents to verify identity and residential address. This enhanced capability, supporting both documentary and non-documentary mechanisms of identity verification, will be implemented in the very near future.
e-gold Ltd. remains highly committed to offering a cost effective Internet payment system affording instantaneous settlement, free of chargeback risk, to customers around the world. We continue to be confident that a regulated e-gold rebuilt to a more systematic specification will be less hospitable to criminals, and more attractive to mainstream business use without being less accessible to those disregarded by legacy payment systems.
