Monetization Documents & Procedure
Boomfii.com act as a filter for clients between monetizers and traders. Our trading groups will not accept potential clients without going through primary due diligence by boomfii.com, and then you will have to face the monetizers’ due diligence, if successful this will cut down the time frame of enrolment.
Our process is to be with the client from the first meeting – phone call/contact right through to the end of the monetization and trading processes. The trading process is for 52 weeks and the client receives the proceeds for 40 weeks, with the 12 remaining weeks going to the trading platform, bank, monetizer to recover the loan, and finally the UN for humanitarian causes.
To proceed with us the first document we require is KYC/CIS which gives copious information about the client. This is a requirement of the EU, Swiss, UK, and USA regulators. If we are called on to prove the client and his details, we will have the document.
Once we have the KYC/CIS document, we will then ask questions of the client as to the value of the asset available, the current location of the asset, and asset statements backing up the value and location, etc. For example, an assay statement. We prefer to see IGAS or ASSAYER statements.
We need the documents submitted to you by the institution holding your asset (KYC, SKR, COA) as soon as possible so we can verify the asset value, quantity, and location of the said asset.
Once we have verified our checks on the documentation, they will be forwarded to the monetizer and trading group. At this point, we have reviewed the client’s details and the client as far as we can tell has no criminal records and is a genuine person looking to monetize for trading.
After the monetizer receives our report and documents, in 48 hours the monetizer due diligence person will request a Zoom call to put a face to the individuals they are dealing with. This call may last two hours and will be a question-and-answer session, the client can ask whatever questions they want, it is a two-way street and all players must be satisfied and confident so all can move forward.
The next step is the monetizer due diligence person will check all social media and the dark web to make sure nothing is untoward against the client. Please note: If you are associated with a Russian oligarch you need to advise us with the name, how long your association with him, and if you are still associated.
After the monetizers’ due diligence, you will be asked to attend another Zoom call lasting for about 20 minutes where confirmation will be given to the monetizer wanting to proceed with you. In this call, there will be the monetizer, trader, monetizer due diligence person, and boomfii.com representative.
The above process is why we need the documentation.