After getting the boot from Foundation ID, CashFX Group has knowledgeable associates it’s suspending its KYC rollout.
As per an e-mail despatched out to affiliate traders on or round August ninth, CFX Company Crew wrote;
We’re briefly pausing our KYC course of till options are in place to make sure a chance for fulfillment for all members, no matter their background or place of residence.
This pause is not going to be lengthy however will permit the CFX Company Crew to do what is required for a profitable KYC / AML course of.
Slightly than simply be sincere about Foundation ID giving them the boot, CashFX Group is hiding behind associates not having documentation.
On account of our extraordinary development, with members becoming a member of CFX from all corners of the world, we now have turn out to be conscious {that a} vital variety of individuals could not have entry to the doc required to KYC your self.
CFX was constructed and launched to help all individuals in constructing a brighter future, to not spotlight the inequality that we nonetheless see around the globe right now. We’re right here to be a part of the answer.
CashFX Group had procured KYC companies via Foundation ID utilizing a shell firm and dodgy service provider.
Upon studying of the deception and doing their due-diligence, Foundation ID promptly terminated CashFX Group’s entry.
That is the rationale CashFX Group has halted its KYC roll out. It has nothing to do with required documentation or a scarcity thereof.
Evidently discovering an organization keen to supply KYC to a Ponzi scheme goes to take some time, so right here we’re.
CashFX Group are most likely organising new shell firms to deceive another KYC firm as you’re studying this.