KYC Policy

1. Objective

The primary objective of this Know Your Customer (KYC) policy is to prevent fraud, money laundering, and financing of illegal activities, while ensuring the identity verification of all users on the platform in compliance with international regulatory standards.

2. Scope

This policy applies to all users of the trading platform, including individual and institutional clients, and ensures that their identity, nature of their business, and the legality of their funds are verified in accordance with applicable laws.

3. Key Components of the KYC Policy

The KYC process consists of several stages to establish the identity of users and assess any potential risks they might pose.

3.1. Customer Identification Program (CIP)

All users are required to complete the Customer Identification Program before engaging in any trading activities. The following information must be provided:
– Full legal name
– Date of birth
– Residential or business address
– Nationality
– Government-issued identification (e.g., passport, driver’s license)
– Proof of address (utility bill, bank statement)
– Photograph or biometric verification (where applicable)

3.2. Enhanced Due Diligence (EDD)

Enhanced Due Diligence will be conducted for high-risk individuals or entities, including but not limited to:
– Users from jurisdictions identified by the Financial Action Task Force (FATF) as high-risk.
– Politically Exposed Persons (PEPs) and their close associates.
– Accounts with high-volume transactions, unusual trading patterns, or suspicious activities.

3.3. Ongoing Monitoring

The platform will continuously monitor customer activity and update the KYC information periodically. Alerts will be triggered in case of:
– Unusual transaction volumes.
– Discrepancies in provided information.
– High-risk geographical locations.

3.4. Sanctions Screening

The platform will screen customers against international sanctions lists such as the United Nations, OFAC (Office of Foreign Assets Control), and the European Union. Users flagged on these lists will be denied access to the platform.

4. Information Security and Privacy

The platform adheres to strict privacy standards to protect the personal data of its users. All information collected during the KYC process will be securely stored and will only be shared with regulatory authorities as required by law. The platform complies with data protection laws, including GDPR where applicable.

5. Refusal or Termination of Services

Failure to complete the KYC process or submission of false information will result in the refusal or termination of services. The platform reserves the right to block or freeze accounts that do not meet the required KYC standards.

6. Record Keeping

All KYC documentation and transaction records will be maintained for a minimum of 5 years, in compliance with regulatory requirements.

7. Updates to the KYC Policy

This KYC policy may be updated from time to time to reflect changes in regulatory requirements or business practices. Users will be notified of any significant changes.

8. Regulatory Compliance

The platform complies with relevant laws and regulations concerning KYC, Anti-Money Laundering (AML), and Counter-Terrorist Financing (CTF) in all jurisdictions where it operates.