AML/KYC Policy (Updated: September 26, 2024)
This Know-Your-Customer (KYC) Policy is part of SecureShift’s Terms of Service. By using our services, you agree to comply with this policy. If you do not agree or cannot meet the requirements, you should not use our services.
1. Compliance Measures
1.1. This policy ensures we follow global regulations to prevent money laundering, fraud, and other financial crimes.
1.2. We use a risk-based approach to assess clients and transactions based on their risk levels, ensuring tailored responses.
1.3. Our policy follows standards set by the Financial Action Task Force (FATF) to combat financial crimes worldwide.
2. Risk-Based Approach
2.1. We categorize clients and transactions by risk and apply appropriate KYC measures.
2.2. Client risk profiles are regularly reviewed and adjusted according to new regulations or circumstances.
3. Transaction Monitoring
3.1. We use advanced technology to monitor transactions in real time and flag potential risks.
3.2. Our security team investigates alerts confidentially and may freeze transactions during investigations.
3.3. For inquiries on frozen transactions, contact [email protected].
4. Client Checks
4.1. For low-risk scenarios, minimal KYC checks may be applied. For flagged transactions, checks are escalated.
4.2. We may require mandatory KYC checks on any transaction based on risk assessments.
4.3. Checks are divided into standard and enhanced levels depending on the situation.
4.4. Required documents include government-issued ID, proof of address, and a selfie for verification.
4.5. Additional information like transaction purpose, source of funds, and business documents may also be requested.
4.6. Clients may be asked to undergo a live verification check.
4.7. Continuous monitoring ensures updated risk profiles and necessary adjustments.
5. Client Responsibilities
5.1. Clients must provide accurate and up-to-date information.
5.2. We recommend reviewing and updating your account information regularly.
5.3. Clients should cooperate during investigations and provide requested documentation.
5.4. Suspicious activities should be reported immediately.
5.5. Clients must comply with SecureShift’s terms, avoiding fraudulent activities or money laundering.
5.6. Engage in ethical financial practices and ensure transactions comply with laws.
5.7. Clients must cooperate fully during investigations or KYC checks.
6. Data Privacy and Security
We prioritize the privacy and security of client data using encryption, secure storage, and strict access controls. Data on suspicious transactions is retained for at least five years, as required by law. Please review our Privacy Policy for more details.
7. Miscellaneous
7.1. KYC policies are reviewed regularly and updated to meet evolving regulations. Clients are encouraged to stay informed of any changes.
7.2. For questions or feedback, contact us at info@secureshift.io.