Today, we are excited to welcome David Abner as Gemini’s Global Head of Business Development. 

David will spearhead the expansion of Gemini’s institutional business and bolster our reputation as a trusted and secure cryptocurrency exchange and custodian. He will manage a team focused on cultivating Gemini’s relationships with major institutional partners and high-net-worth individuals on a global scale. 

David joins us after launching Dabner Capital Partners, a boutique advisory and investment firm focused on exchange traded funds (ETFs) and digital assets, following more than a decade at WisdomTree Asset Management. He served as Executive Vice President of WisdomTree and CEO of WisdomTree Europe, where he oversaw a significant expansion in assets under management as it became the ninth largest ETF provider in Europe. Prior to WisdomTree David was managing director and head of ETFs at both BNP Paribas and Bear Stearns. David also authored *The ETF Handbook* and is an educator in the ETF industry. 

The cryptocurrency industry continues to experience tremendous growth and 2020 saw more institutions pour resources into the new asset class, setting the stage for wider adoption and stronger use cases globally. David will work to ensure that Gemini remains the partner of choice for institutions seeking knowledge and guidance as they look to engage with cryptocurrencies in a secure and regulated manner. 

David is the latest addition to an incredibly accomplished group of senior leaders who have joined Gemini over the past few years, including [David Damato](https://gemini.com/blog/gemini-welcomes-david-damato-as-chief-security-officer) as Chief Security Officer and [Sydney Schaub](https://gemini.com/blog/welcoming-our-general-counsel) as Chief Legal Officer (formerly General Counsel).

Welcome to the team, David!

If you are interested in joining David and his team as Gemini expands across the globe, please stay tuned for openings on our [careers page](https://gemini.com/careers) – we’re hiring!

Onward and Upward,

Noah B. Perlman  
Chief Operating Officer

Gemini Welcomes David Abner as Global Head of Business Development

The safety and security of customers has been paramount to Gemini since our inception and as the popularity of cryptocurrencies grows, the amount of attempted fraudulent activity in the space grows in parallel. In this blog post, we highlight some common online scams and provide suggestions for how to avoid becoming a victim. *Note: these scams do not uniquely target cryptocurrency users  so whenever you go online, keep these best practices in mind.*

## Tech Support Scams
Tech support scams prey upon people’s fear that their computer is broken or has been compromised.

__The Fake Phone Call__

In this scam, a criminal will call or email a target and state that their computer has a serious problem such as a virus. The criminal will then ask for remote access to the victim’s computer in order to run a fake diagnostic test and from there can easily steal information. 

__The Fake Pop-Up__

In a pop-up attack a criminal will deploy a pop-up window on a victim’s screen stating there is a problem with the computer that needs to be urgently fixed and request payment to resolve the non-existent issue.

__The Fake Website__

Criminals may also create fake support websites for well-known companies listing a fake support number. When the victim calls, the criminal will pose as a support employee and request remote access, allowing them to easily loot the victim’s account. 

## Get Rich Quick Scams
Get rich quick scams present potential victims with fake investment opportunities that promise large returns in a very short period of time with minimal effort (these schemes often are classified as pyramid or ponzi schemes).  

__The Foreign Prince__

Criminals contact a victim, usually via email or a phone call, and request a small investment or loan for an exotic and seemingly reliable opportunity in exchange for a high rate of return in the near future. 

__The (Swamp)land Deal__

Criminals may also post fake advertisements online that promise a small initial investment will yield outsized returns and wait for victims to contact them.

__Bank of Nowhere__

In a more elaborate get-rich-quick scam, criminals create fake investment platforms that similarly promise victims significant returns in exchange for a nominal investment. These platforms look legitimate and often include fake testimonials from people with inflated bank accounts. Once the victim makes an initial investment on the platform, they will be able to see their portfolio but unable to withdraw their money. When the time comes to pay a return on the investment, the criminal will make excuses as to why the funds can’t be paid and often ask the victim to pay an additional fee to release them.

## Romance Scam
Criminals pose as an interested romantic partner in order to take advantage of those looking to find companionship. 

__Catfishing for Dollars__

A criminal will create a fake dating profile using stolen pictures, then establish a close relationship with a victim over a long period of time taking great pains to avoid in-person interactions. Once the criminal senses the victim is comfortable, they will request money, often giving a reason with great urgency to induce payment (ex. medical expenses, frozen bank account, etc.).

## SIM Swap Scam
Criminals will acquire a victim’s name and phone number through fraudulent means and use that information to hack into systems connected to the victim’s phone. 

__Identity Theft__

Hackers continue to build sophisticated methods to target online accounts. One of the more common attacks is called SIM swapping, when an unauthorized individual tricks a mobile carrier into switching an existing phone number to a different device. The unauthorized individual can then intercept texts and calls, including two-factor authentication (2FA) confirmations sent via SMS. 

## Spotting Online Scams

__Do Your Homework__

Before making an investment, take the time to conduct thorough and careful research focusing on reputation, qualifications and credentials. If the opportunity sounds too good to be true, it likely is. Best practice is to check all information with a trusted third party such as a legal or financial professional. 

__Know Who You’re Dealing With__

Legitimate tech companies will not contact you by phone, email, text message, or “pop-up” warning to tell you there is a problem with your computer. If you believe something may be wrong with your computer,  reach out to a legitimate  technical professional or physically take your computer into a store to receive in-person support. 

__Ask Questions__

If you’re concerned with the legitimacy of a person, company, or investment  opportunity ‒ ask questions.  Be skeptical anytime anyone asks you to hand over money immediately. The more rushed an investment opportunity may be, the more likely it may be a scam.  

__Only Share Your Private Information With Trusted Parties__

Sometimes we have to give our pin numbers, passwords and personal information to access systems and services that we use in our daily lives. Make sure to verify that you are indeed communicating with a legitimate representative of a company you know and trust before revealing private information.

__Don’t Download Anything From Questionable Websites__

Is the URL unusually long and complicated or have spelling errors? Does the website seem especially poorly designed, old or amateurish? If so, you may be on a fraudulent website. Pay close attention to where and how you browse the web and never download anything from a questionable website. 

*For Current and Future Gemini Customers:* The best way to avoid losing funds from your Gemini account during a SIM swap scam is to download [Authy](https://gemini24.zendesk.com/hc/en-us/articles/115005755446-How-do-I-download-Authy-) for two-factor authentication disabling the [multi-device](https://gemini24.zendesk.com/hc/en-us/articles/115000053543-Turning-off-Authy-Multi-Device-Support) option. This ensures your device is the only device that can access your Authy account. Please also see [best practices for securing your Gemini account](https://gemini.com/blog/best-practices-for-securing-your-gemini-account).

We hope that this guide to online scams will help you stay safe and secure as you navigate the tools, technologies and systems that power our everyday lives. 

Onward and Upward,

Noah B. Perlman  
Chief Operating Officer

*The preceding examples are not a comprehensive list of all possible risks. Suggestions for avoiding online scams do not guarantee your security. You should always exercise caution online and when transacting in digital assets. Transactions in digital assets may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. The nature of digital assets may lead to an increased risk of fraud or cyber attack.  *


Common Online Scams and How to Avoid Them

In part two of our blog series on compliance procedures, we dive deeper into Gemini’s KYC process, focus on questions and considerations for customers, and hope to provide tips for a smooth onboarding process. (Missed part one? Read [What is KYC and Why does it Matter for Cryptocurrency Buyers](https://gemini.com/blog/what-is-kyc-and-why-does-it-matter)).

Not sure what we might need? Feel like you submitted all your information, but you haven’t yet been fully verified to trade and or withdraw from your account? Here is a checklist to help move you through onboarding.

__What does Gemini require and collect?__ 
When customers sign up for a Gemini account, applicable regulations require us to collect: full legal name, date of birth, address, phone number, social security number and email.__ Additional documentation is required to be fully verified and to withdraw from the exchange__. Those documents include: 

- __U.S. residents:__ A valid passport or driver's license.
- __International residents:__ Depending on your country of residence, we will require at least two government-issued documents: a valid passport, a driver’s license, and/or a national identity card.
- __Canadian residents:__ A valid passport, driver’s license, and social insurance number. 

__Haven’t heard from us? __
- Add our email address to your favorites! To make sure we’re hitting your inbox with important updates, please make sure our email address, __hello@gemini.com__, is added to your ‘Primary’ inbox. 
- We only communicate about account updates via email - check your spam folder if you can’t find us.

__Having trouble submitting documentation? __
- When you are submitting documentation, make sure it is of clear quality, not cut off and not missing any information. The ID must be fully readable and unobstructed.
- Photo ID = driver’s license or state issued ID (US or Canada only) or passport. 
- Make sure your ID is valid and not expired.
- For security reasons, we do not accept emails with photo ID attachments.  Please submit all documents through  http://exchange.gemini.com/upload.
- When asked for “proof of address,” we require a full-page scan of a utility, cable or cell phone bill, or a bank statement.
- Please make sure the document displays your full name, current residential address, and is dated no more than 90 days from the day you submit.

__Having trouble withdrawing from your Gemini account?__
- In order to enable withdrawals from your account, we will have had to first verify your identity. If we weren’t able to verify your identity because your ID isn’t legible, you will be notified via email and asked to re-upload a clear image of your ID to http://exchange.gemini.com/upload. 
- Once we’ve completed the review process, you’ll receive an email notification on the status of your account.

__Having issues with 2-factor authentication? How do I verify my phone number?__
- Gemini requires 2-factor authentication (2FA) for all users to verify their phone number and to protect against risks related to number-hijacking (also known as “SIM porting”). 
- We recommend using Authy, a mobile app specifically for 2FA, to generate unique codes each time you login to your Gemini account.  
- We recommend disabling the multi-device option to safeguard your Authy account even if your phone number is targeted by a successful phone porting attack.
- In order to verify your account, you will receive a notification from Authy that is similar to notifications you receive from other apps and will ask you to confirm your phone directly. You may not be able to get these notifications unless you go into your settings and allow notifications from the Authy app. 
- When a Gemini user that has an Authy account says they're not getting the code via text to verify their phone during the KYC process, we send this: “We have reviewed your account and it appears the code is being sent directly to your Authy app on your mobile device.” 

Cryptocurrency is fast maturing as an asset class. Customers choosing an exchange and custodian should think long-term about what the provider brings to the table, how they safeguard your assets and information, and how they comply with traditional financial rules and regulations. The KYC process is meant to increase customer protections, safeguard our exchange and provide for an overall healthy market.

To complete the signup process today click __[here](https://geminiexchange.app.link/LjSeDCcMF3)__.  

Onward and Upward,

Noah B. Perlman  
Chief Operating Officer


Helpful Tips to Understand Gemini’s KYC and Onboarding Process 

*In this two-part series, we will cover the compliance rules and procedures when opening an account with a regulated crypto exchange like Gemini. Today we start with the basics of Know Your Customer (KYC) rules and why they are necessary. *

Thoughtful regulation is necessary to create healthy markets and is a win-win for the cryptocurrency market and regulators alike. Gemini has four key pillars that drive all our decisions: Security, Licensing, __Compliance__ and Product. These pillars help us build trust, both in the market of the future, and in Gemini.

Gemini has followed the compliance and regulatory safeguards put in place by regulators for the traditional financial markets since our launch. Executing KYC procedures on all our customers is a part of those safeguards and incredibly important to maintain our compliance with the Bank Secrecy Act and associated Anti-Money Laundering regulations.

__KYC__ is how financial institutions verify a customer’s identity, making sure they aren’t on any prohibited sanctions lists and helps to ensure criminals do not use financial institutions for money laundering.

__What are the benefits of going through the KYC process?__ The safety of your personal funds is one of our top priorities and so is keeping bad actors off our platform. This doesn't just serve our customers and Gemini, it helps the health of the entire cryptocurrency industry and maintaining the integrity of the financial system. 

__Our Regulatory responsibility and obligations:__ Gemini is a trust company and Qualified Custodian chartered by the New York State Department of Financial Services. To keep our license, we are required to verify the identity of our customers. We also must adhere to strict governance and procedures regarding how we store and use your personal information for your safety and security as well as our liability. Gemini is audited regularly to make sure we are complying with these procedures. 

__How will your personal data be used?__ The information you submit is used to verify your identity. For an in-depth understanding regarding what information [we collect](https://gemini.com/legal/privacy-policy#personal-information-collect) and how we treat it, please read our [Privacy Policy](https://gemini.com/legal/privacy-policy#welcome).

__What does Gemini do with your information?__ The information you provide is stored safely and securely. We were the first exchange and custodian in the world to complete both a [SOC 2 Type 1](https://gemini.com/blog/gemini-completes-soc-2-review-a-worlds-first-for-a-cryptocurrency-exchange-and-custodian) examination, and a [SOC 2 Type 2](https://gemini.com/blog/gemini-completes-soc-2-type-2-examination-another-first-in-crypto) examination, demonstrating our level of security compliance in protecting customer data and funds. SOC 2 certification means that an independent auditor has confirmed that Gemini’s systems are set up to ensure security, availability, and confidentiality of customer data. The SOC 2 Type 2 examination requires Gemini to comply with more stringent specification in how we store and protect data. SOC 2 is both a technical audit and a requirement that comprehensive information security policies and procedures be written and followed.

In part two we will provide a few helpful tips for Gemini’s KYC process and how it is applied during the onboarding process. 

To complete the signup process today click [here](https://geminiexchange.app.link/1gr19gUOC3).

Onward and Upward,

Noah B. Perlman  
Chief Operating Officer


KYC is how Gemini and other financial institutions verify customer’s identity, prevent money laundering, and ensure they aren't on prohibited sanctions lists. 

Noah B. Perlman

ARTICLES BY Noah B. Perlman

Gemini Welcomes David Abner as Global Head of Business Development

Common Online Scams and How to Avoid Them

Helpful Tips to Understand Gemini’s KYC and Onboarding Process

What is KYC and Why Does it Matter for Cryptocurrency Buyers

A simple, secure way to buy and sell cryptocurrency