Purpose of KYC

  • — To verify the identity of all users to ensure the safety and security of the platform.
  • — To comply with international and local regulatory requirements to prevent fraud, money laundering, and terrorism financing.

User Identification

  • — All users are required to submit valid government-issued identification (e.g., passport, driver’s license, or national ID card).
  • — Proof of address may also be required, such as utility bills or bank statements, not older than 3 months.
  • — Businesses must provide registration documents, proof of ownership, and the identities of key stakeholders.

Verification Process

  • — Verification is mandatory before certain services are accessed, including large transactions and withdrawals.
  • — The process includes document review, automated checks, and manual audits.
  • — The platform may request additional documentation or re-verification periodically.

Data Retention

  • — All identification records are securely stored and retained for a period as mandated by law (e.g., 5-7 years).
  • — Users have the right to request access to their verification data, subject to privacy regulations.