AML & KYC Policy

High-value portable collectibles — including rare coins and banknotes — are internationally recognised as a channel for money laundering and sanctions evasion. Regulators increasingly treat dealers and marketplaces in this space like art-market participants (for example, the EU's anti-money-laundering framework applies to art and high-value goods dealers for transactions of €10,000 or more, and India's Prevention of Money Laundering Act, 2002 applies to dealings in high-value goods). The Numis House operates a proportionate anti-money-laundering (AML) and know-your-customer (KYC) programme regardless of whether a given transaction technically triggers a statutory threshold.

• All vendors: identity (government ID) and address verification before activation; for businesses, registration documents and beneficial-ownership information. Payout accounts must be in the verified name.
• Buyers in high-value transactions: identity verification is required before we release orders or auction wins totalling USD 10,000 or more (single or linked transactions), and may be required at lower values where risk indicators exist.
• Sanctions screening: vendors, high-value buyers, and payout recipients are screened against applicable UN, EU, UK, US (OFAC), and Indian sanctions lists at onboarding and periodically.
• Politically exposed persons and high-risk jurisdictions receive enhanced due diligence.

We monitor for patterns associated with laundering through collectibles, including:

• structuring — splitting payments or purchases to stay under thresholds;
• rapid buy-sell cycles at a loss with clean-money proceeds;
• self-dealing between linked accounts, or auction shill patterns that create artificial provenance and price history;
• mismatch between the paying instrument and the account identity, or requests to refund to a different instrument (refunds go only to the original payment method);
• requests for unusual payment routes — third-party payers, crypto side-payments, cash-on-meetup for platform sales.

• Request documents: identity, source-of-funds, or provenance evidence, with a reasonable deadline.
• Hold: delay order release, payout, or auction settlement while checks complete.
• Decline or reverse transactions, and freeze payouts, where risk cannot be resolved.
• Report: where the law requires, file reports with the relevant financial-intelligence unit (in India, the FIU-IND). Tipping-off rules may legally prohibit us from telling you a report was made.
• Retain records: KYC and transaction records are kept for the statutory period (typically 5–8 years) as described in the Privacy Policy.

• Provide truthful identity information and respond to verification requests; accounts that decline verification cannot transact above the applicable limits.
• Use your own payment methods, in your own name.
• Do not use the Platform to move value between parties disguised as collectible sales.
• Vendors must not accept off-platform payment for platform sales — it defeats both AML controls and buyer protection.

Compliance questions or reports of suspicious activity: compliance@thenumishouse.com. Genuine reports made in good faith will never disadvantage the reporter's account.