1. Purpose and Scope

IGoldcash is committed to preventing money laundering and terrorism financing by verifying the identity of every customer and maintaining regulatory-compliant records for purchase of gold and precious metals.

• Establish and verify customer identity for all transactions.
• Apply due diligence proportional to transaction risk and value.
• Maintain and retain records to meet legal and audit requirements.

2. KYC Requirements by Amount

The following thresholds apply to sale of gold/precious metals to IGoldcash. PAN is mandatory for cash transactions above ₹2,00,000, and enhanced due diligence applies for higher-risk scenarios.

3. Acceptable KYC Documents

3.1 Identity Proof

3.2 Address Proof

• Aadhaar, Passport, Voter ID, Driving License with current address.
• Recent bank statement (≤ 3 months) or Post Office passbook.
• Registered rent agreement; recent utility bill (electricity/water/gas/landline ≤ 3 months).

3.3 Additional Items

• Recent passport‑size photograph (for enhanced KYC).
• Self‑declaration or ownership declaration where applicable.
• Original documents for sight verification; copies retained in records.

4. KYC Verification Process

1. Document Collection: Customer presents originals; copies taken.
2. Visual Checks: Authenticity and validity verified by staff.
3. Data Entry: Details recorded in secure system; signatures captured.
4. Scanning: Documents scanned/photocopied for records.
5. Approval: Compliance review; enhanced checks if applicable.
6. Authorization: Transaction cleared post KYC completion.

Typical timelines: Simplified 3–5 min; Standard 5–10 min; Enhanced 10–15 min.

5. Special Cases

5.1 No PAN (Above ₹2L Cash)

5.2 NRI Sellers

• Valid Indian Passport; PAN for high‑value transactions.
• Overseas address proof if Indian address unavailable; visa/work permit copy.

5.3 Senior Citizens

• Assistance with forms and photocopies; acceptance of still‑valid legacy formats.

5.4 Joint Ownership

• KYC of all joint owners for high‑value transactions; presence or notarized consent required.

5.5 Selling on Behalf of Others

• Notarized authorization letter, owner's KYC, representative's ID; payment to owner's name.

6. Record Keeping & Retention

• KYC document copies, customer information forms, transaction details (date, amount, items, weight, purity).
• XRF/test reports, payment proofs, and item photographs where applicable.

Data Security

• Encrypted digital storage; access restriction and audit trails.
• Physical records in secured cabinets; routine backups and disaster recovery.

7. Regulatory Reporting

Tipping‑off prohibited: Customers will not be notified if an STR is filed.

8. Anti‑Money Laundering Controls

• Risk assessment across customer, transaction, geography, and product risks.
• Enhanced Due Diligence for higher‑risk scenarios or patterns.
• Structuring prevention: refusal of deliberately split transactions to evade thresholds.

9. Customer Rights & Responsibilities

Your Rights

• Privacy and confidentiality of KYC data.
• Explanation of document requirements.
• Correction and access to recorded information as per policy.

Your Responsibilities

• Provide accurate, genuine documents; cooperate with verification.
• Inform about changes in details; keep originals available for sighting.

10. Non‑Compliance

• Transactions may be refused if KYC is incomplete, invalid, or unverifiable.
• False information can attract legal consequences and reporting to authorities.

IGoldcash maintains zero‑tolerance for non‑compliance and cooperates fully with lawful investigations.

11. Policy Updates

This policy is reviewed periodically and updated for regulatory amendments, industry best practices, and operational improvements. Material changes will be posted on this page and notified in‑store.

12. Contact