OneCoin's KYC is a lie, but valuable asset to the criminals

One of the things that has been used heavily in the marketing of OneCoin has been their KYC (Know Your Customer) procedure. In fact, KYC is the very essence that was supposed to make OneCoin superior to all other cryptocurrencies. According to the Gospel of Ruja KYC of each member has been imprinted in to the blockchain so that each coin contains a sort of fingerprint of the person possessing it.

Storing KYC information in the blockchain doesn't make any sense – not that OneCoin has any blockchain either. 

Quoting the website onecoin.eu:

"We are open and honest in our dealings. By being the first cryptocurrency storing KYC documents in its new blockchain, we set a new industry standard. Hence OneCoin makes cryptocurrency transparent and a part of our financial culture and everyday life. By working proactively with governments and policymakers, OneCoin helps the industry achieve better regulation."

During these five years OneCoin has been running I have seen proofs that the company doesn't have problems approving also fake ID's. Yes, the KYC procedure of OneCoin has been occasionally tested with fake documents. Passing the inspection with fake ID's means that all the talk about the importance of KYC has been utter bullshit.

Yes, I have seen fake ID's been approved. I don't post any pictures revealing the ID's of those fake persons though. God forbid if their OneCoin accounts were frozen!

OneCoin's KYV (Know Your Victims) department appear to only check if ID's resemblance a real one. They obviously have no means or interest to check if a person really is who he/she claims to be. Thus in theory onecoins could be used to buy drugs, chemical weapons and to fund terrorism – if only anyone would be stupid enough to accept onecoins in exchange.

A legitimate company would of course sue me for damaging their business by such claims if they were not true. However, OneCoin is not a legitimate company but a criminal organisation. And the information I have about the KYC-bullshit is a fact. 

Further proof revealing us that OneCoin doesn't exactly need KYC is the fact that you can use onecoins even without having a KYC approved account:

Source

Passport copies can be a valuable asset in the hands of criminals

In the last 5 years OneCoin must have collected millions of copies of ID's; passports and driver's licences. The criminals running the show have also required the members to keep their KYC documents up to date. Hence OneCoin has a huge stock of copies of ID's, which are also a valuable asset in the hands of criminals.

According to an article published on CNBC website:

"Passport data sells in three formats on the darkweb, digital scans, templates for creating a finished passport and actual physical passports. These range in price from $5-$65 for scans, $29-$89 for templates and up to $5,000 for the finished product."

Source: https://www.cnbc.com/2019/07/05/how-criminals-use-stolen-passport-information.html

And here are the KYC requirements of OneCoin:

Proof of Identity documents: 

• Accepted:
• National ID card - all sides must be scanned in one file
• National Passport
• International Passport
• Driving Licenses

The following details must be clearly visible: 

• Personal photo 
• All personal names 
• Date of birth 
• Document serial number 
• Expiry date of the document (if available for the respective document) – In case of extended validity, please upload in one file the main  identity page + the page with the extended validity 
• Machine readable zone (if available – these are the encoded in optical character recognition format lines at the bottom of the identity page of the document) 

If your Identity Document has no expiry date then on menu My Profile > Profile > PASSPORT/ID CARD EXPIRY DATE fill in 31.12.9999 in the following format DD.MM.YYYY.

(– LOL! So why expiring ID's have to be updated then?)

Important: Only clearly scanned high-resolution images having all details visible will be accepted. KYC documents should not contain visible pixels or dot patterns. All scanned KYC documents must be in color.

Imagine someone at the Sofia office manually inputting information from a Chinese driver's license to OneCoin's blockchain. Well, actually there is no staff left if Simon Le and King Jayms didn't already chip in to hire a new one... I feel sorry for the ones desperate enough to apply for a work in this criminal organisation.

P.S.

Dear compliance department of OneCoin, have fun going through your huge stock of ID's trying to find those fake ones I was talking about! You'd really had to know your customers to find them.