KYC and AML policy

1. Introduction

Know Your Customer (KYC) and anti-money-laundering (AML) controls support identity assurance, risk assessment and legally required reporting. They do not imply that an account or transaction is risk-free.

2. What KYC means

KYC identifies the customer and checks that submitted information is consistent and credible. The process may compare identity details, address information and account behaviour.

3. What AML means

AML controls assess financial-crime risk, monitor relevant activity and support review of unusual patterns. Counter-terrorist-financing controls may form part of the same program where applicable.

4. Why identity is checked

Verification helps prevent impersonation, duplicate accounts, payment misuse and prohibited activity. It also supports Canadian recordkeeping and provider obligations.

5. Documents

Depending on the service, a government-issued photo ID and recent address evidence may be requested through an approved secure workflow. A live image check may be used only when disclosed during the process.

6. Verification process

1. Register with accurate basic details.
2. Submit requested information through the approved channel.
3. Automated checks compare completeness and consistency.
4. A trained reviewer assesses exceptions where needed.
5. The result and any restrictions are communicated.

7. Enhanced due diligence

Higher-risk circumstances may require source-of-funds information, transaction purpose or additional identity evidence. The request is tailored to the identified risk rather than applied as unnecessary blanket collection.

8. Timing

Completion depends on document quality, source availability, matching information and whether manual review is required. We provide an update when additional evidence is needed.

9. Refusal or suspension

Unreadable, expired, altered or inconsistent documents may delay or prevent verification. Failure to answer a lawful information request, suspected forgery or sanctions concern may lead to restriction or refusal.

10. Transaction monitoring

Relevant operations may be assessed for size, frequency, counterparties and consistency with known account information. A suspicious pattern may trigger review, temporary limits or legally required reporting.

11. User responsibility

Users must submit authentic, current information and report important changes. False or misleading data may lead to rejection, restriction, closure or referral to an authority where required.

12. Storage and protection

KYC information is access-controlled and retained only as required for the stated purpose and applicable obligations. The Privacy Policy explains rights, safeguards and broader retention practices.

13. Data recipients

Information may be shared with contracted verification and IT providers, service entities, regulators or public authorities where necessary and lawful. Recipients receive only the information relevant to their function.

14. Canadian requirements

Controls are designed around applicable Canadian financial-crime, privacy and provider requirements. The exact regime depends on the legal entity and service involved; current provider details are available on request.

15. Contact and support

Send KYC or AML questions to [email protected]. Do not attach identity documents until support confirms the secure submission method.