Governance & Regulation

Answers to governance and regulatory questions about GoldMoney

What is the significance of a SAS 70 Type II audit report?
SAS 70 stands for "Statement on Auditing Standard 70", and has been developed and is ...

What kinds of controls in GoldMoney are reviewed and verified in the SAS 70 Type II audit report?
The following controls are reviewed by the Big Four accounting firm and then verified to have been ...

Is GoldMoney a bank?
No. GoldMoney does not make loans. More importantly, GoldMoney is not a deposit taking ...

Is GoldMoney a collective investment scheme?
No. GoldMoney is not a collective investment scheme because assets are not commingled.

Is GoldMoney a fiduciary service business?
No. GoldMoney is not a trust because we do not hold property on behalf of another party (the ...

Could GoldMoney be used for money laundering?
No. It is important to first note that GoldMoney itself never accepts cash. GoldMoney is purely a ...

What know-your-customer rules does GoldMoney use?
Although GoldMoney is not a bank, most of the same personal information that you need to open a ...

What are Ponzi schemes?
There have been many attempts to operate Ponzi or pyramid schemes (a.k.a. high-yield investment ...

Why doesn't GoldMoney tolerate Ponzi or pyramid schemes?
Ponzi and pyramid schemes are fraudulent activities and therefore illegal in most countries. ...

What are the tax implications of opening a Holding with GoldMoney?
GoldMoney is not authorized to give personal accounting or any tax advice. Further, we have ...

Is GoldMoney regulated?
Since 1 April 2008 has been licensed to operate in Jersey as a money service business (MSB) and is ...

So how do I know that my precious metals are safe?
To ensure that your metals are safe and secure, GoldMoney works closely with independent service ...