Know Your Customer (KYC) Policy

1. Purpose of KYC

Our Know Your Customer (KYC) policy is designed to:

• Verify the identity of our customers
• Prevent identity theft and fraud
• Comply with anti-money laundering regulations
• Assess and mitigate potential risks
• Protect the integrity of our platform

2. KYC Requirements

All customers must complete KYC verification before using certain features. Required documents include:

• Proof of Identity: Government-issued ID (passport, driver's license, national ID card)
• Proof of Address: Recent utility bill, bank statement, or government letter (dated within 3 months)
• Selfie Verification: A photo of you holding your ID
• Source of Funds (when required): Documentation explaining the origin of your funds

3. Verification Tiers

We operate a tiered KYC system:

• Tier 1 (Basic): Email verification - Limited functionality
• Tier 2 (Standard): ID verification - Increased limits
• Tier 3 (Enhanced): Full KYC - Maximum limits and full access

4. Accepted Documents

We accept the following documents for verification:

• Passport (all countries)
• National ID card
• Driver's license
• Residence permit
• Utility bills (electricity, water, gas, internet)
• Bank statements
• Government-issued tax documents

5. Verification Process

The KYC verification process involves:

• Uploading required documents through our secure portal
• Automated document validation and authenticity checks
• Manual review by our compliance team when necessary
• Biometric facial matching for identity verification
• Cross-referencing with sanctions and watchlists

6. Processing Time

Standard KYC verification typically takes:

• Automated verification: 5-15 minutes
• Manual review: 24-48 hours
• Enhanced due diligence: 3-5 business days

7. Privacy and Security

We take the security of your personal documents seriously:

• All documents are encrypted during transmission and storage
• Access is restricted to authorized compliance personnel only
• Documents are stored in compliance with data protection regulations
• We never share your documents with unauthorized third parties

8. Rejected Verifications

If your verification is rejected, common reasons include:

• Blurry or unreadable documents
• Expired identification documents
• Mismatched information between documents
• Inability to verify document authenticity
• Failed biometric matching

9. Re-verification

We may require re-verification in certain circumstances:

• Annually for high-volume accounts
• When account activity patterns change significantly
• When identification documents expire
• When required by regulatory changes
• When suspicious activity is detected

10. Consequences of Non-Verification

Failure to complete KYC verification may result in:

• Limited account functionality
• Reduced transaction limits
• Inability to withdraw funds
• Account suspension
• Account closure in extreme cases

11. Compliance with Regulations

Our KYC program complies with international standards including:

• FATF Recommendations
• EU Anti-Money Laundering Directives
• FinCEN regulations
• Local financial regulations in jurisdictions where we operate