CashFX Group Update As We End 2021
Hello my friends! And Welcome to my CashFX Group Update. You might be here today because maybe someone referred you to this company. You might have found them online by yourself. Either way, you are at the right place. It is good that you are here today because I have some breaking news to give you.
I do want to start by telling you that I have done a few reviews on this company before. In my CashFX Group Scam , I talked about how this guy Justin Halladay fled the USA trying to avoid authorities. I did know that this company is a Ponzi scam since day one. But here is what’s going on right now…
Happens to be that on August 3rd, the company released an email to it’s members. But before I get into what this email is about you need to know this. This company was having issues paying it’s members and to this day they are still not paying. Apparently they need to meet new KYX Requirements. Let’s continue with my CashFX Group Update.
CashFX Group Update – KYC Guidelines
The know your customer or know your client (KYC) guidelines in financial services require that professionals make an effort to verify the identity, suitability, and risks involved with maintaining a business relationship. The procedures fit within the broader scope of a bank’s anti-money laundering (AML) policy.
So the email on August third tells the members that they are implementing the KYC and will be in fact effective as of August 3rd. So that new members will now have to submit specific identifying information and documents. Also, that existing members need to do it too. They will apparently notify them once the steps are completed.
Here is what they require:
Verification of Basic Information
- Full name Date of birth Citizenship
- Proof of Identification (one of the following)
- Driver’s License Front/Back National Identification Card Front/Back
Biometric Facial Recognition
They want you to record a video to match your face to the picture on your ID.
Verification of Address
Also, then need an utility bill less than 90 days old. I can’t really believe this as I’m writing my blog post today… Also you will need to provide a full copy of the document showing all 4 corners. This will have your physical address, matching the address that you used when you registered with them. After all this non sense, they thank you and wish you a great day.
CashFX Group Update – A Few Days Later
Now, a few days later on August 5th, a Facebook Post in association with CashFX revealed something shocking. Ready for this? They actually used a different company name so that they could get an account with BASIS ID. BASIS ID is an identity verification and management platform built to accelerate the onboarding process of their customers by automating and streamlining KYC/AML.
So here’s what happens next. As of August 9th, they decided to pause the KYC roll until they find a proper solution. So this company is a total fraud and are definitely lying to their members. As of now, this company has a lot of fraud warning already from multiple countries.
When we look at their current traffic, the leading country is the US with around 278K users.
The USA has already blocked this site, but the scammers still recommend their members to get a VPN and get access this way. It’s really unbelievable how far these scammers can go these days. So I’m not sure how this is all going to end. But what I can tell you for sure is that this is hundred percent guaranteed Ponzi scam. Do not invest here.
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Don’t get me wrong… There is nothing wrong with investing in Crypto, in fact I hold a good amount of crypto tokens. The problem is really with these types of scams. There is a huge difference from buying a legit coin than investing in these fake companies. If you want to learn how to trade crypto, I recommend trying the Crypto Ultimatum training course for a super affordable price. Try it out. If you don’t like if for some reason you can get your money back. But I doubt you will. It will show you how to do it the right way. By the way, HERE is the latest Ponzi I reviewed in case you run into it!
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