Source Verification – How We Ensure Accuracy

We take data accuracy seriously. Every piece of information we present is traceable to a primary source. Below is how we verify different types of content.

Market Prices (Spot & Premiums)

• Primary Sources: LBMA, COMEX, and authorised data feeds.
• Verification: We cross-check our displayed prices against at least one independent data provider before updating the site.

Product Specifications (Weight, Purity, Dimensions)

• Primary Sources: Official mint specifications (Perth Mint, Royal Mint, US Mint, etc.) and our own testing with Sigma Metalytics.
• Verification: Each product is physically inspected upon receipt, and its weight and purity are verified before it is listed.

Regulatory and Licensing Information

• Primary Sources: DMCC official register, UAE government publications.
• Verification: Our DMCC license number (DMCC-984162) can be verified directly on the DMCC website.

AML/CFT Compliance

As a DMCC-licensed dealer in precious metals, Monero FZCO is classified as a Designated Non-Financial Business or Profession (DNFBP) under UAE Federal Decree-Law No. 10 of 2025 and Cabinet Resolution No. 134 of 2025. We maintain a documented AML/CFT programme that includes:

• goAML Registration: Registered with the UAE Financial Intelligence Unit (FIU) on the goAML platform.
• MLRO: A designated Money Laundering Reporting Officer oversees all AML/CFT controls.
• Customer Due Diligence (CDD): Identity verification (Emirates ID or passport) is performed for all clients. For occasional transactions at or above AED 55,000, CDD is mandatory before the transaction completes. Enhanced due diligence (EDD) applies to high-risk relationships, politically exposed persons (PEPs), and cross-border clients.
• Transaction Monitoring: All transactions are monitored for suspicious activity. Suspicious Transaction Reports (STRs) are filed with the UAE FIU as required.
• DPMS Reporting: Cash or international wire transactions at or above AED 55,000 are reported via a Dealers in Precious Metals and Stones Report (DPMSR) within 15 working days, per MoE Circular No. 08/AML/2021.
• Recordkeeping: All CDD records and transaction data are retained for a minimum of five years.
• Independent Audit: Periodic independent AML/CFT audits verify the effectiveness of our controls.

For more information on our regulatory framework, see our DMCC Licensing page.

Affiliate & Partner Disclosures

• Any affiliate relationship or partnership is clearly disclosed on the respective page, in line with DMCC and UAE advertising regulations.

AI-Assisted Content Policy

We do not publish AI-generated content without human review. All factual claims, price data, and regulatory statements are verified by our editorial team against primary sources before publication. AI tools may be used for drafting or language editing, but never for generating investment claims or regulatory information.

User-Generated Content (Reviews, Q&A)

• We moderate all user contributions before publication. We only approve comments that are factual, constructive, and relevant.

Reporting Inaccuracies

If you spot an error, please report it to us at support@coinbay.ae. We will investigate and correct it promptly, noting the change on the page.

This material is for informational purposes only and does not constitute financial advice or an offer to buy or sell any asset. Always consult a qualified financial advisor before making investment decisions.