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KYC

This Know Your Customer (“KYC”) Policy explains how we verify the identity of our users and comply with anti-money laundering (AML) and counter-terrorist financing (CTF) regulations. By registering and using our platform, you agree to the procedures described in this Policy.

1. Purpose of the KYC Policy

The KYC process is designed to:

  • Verify the identity of our customers.
  • Prevent money laundering, terrorist financing, fraud, and illegal activity.
  • Ensure compliance with applicable international regulations.
  • Protect both our company and our users from financial crime risks.

2. Legal and Regulatory Compliance

We operate under international standards, including but not limited to:

  • Financial Action Task Force (FATF) recommendations.
  • European Union Anti-Money Laundering Directives (AMLD).
  • United States Bank Secrecy Act (BSA) and USA PATRIOT Act.
  • Local regulations in the jurisdictions where we operate.

Our compliance team monitors legal updates to ensure ongoing adherence.

3. Scope of Application

This Policy applies to all individuals and entities who:

  • Open an account with us.
  • Conduct transactions, deposits, or withdrawals.
  • Use any service that requires financial activity.

4. Customer Identification Program (CIP)

As part of account creation, users must provide accurate and verifiable details, including:

  • Full legal name.
  • Date of birth (for individuals).
  • Country of residence and nationality.
  • Contact details (email, phone number, address).

For corporate clients, additional documents may include:

  • Certificate of incorporation.
  • Memorandum and Articles of Association.
  • Register of directors and shareholders.
  • Identification of Ultimate Beneficial Owners (UBOs).

5. Verification Documents Required

We require valid documents to confirm identity and address. Examples include:

Proof of Identity (one of the following):

  • Passport (photo page).
  • Government-issued national ID card.
  • Driver’s license.

Proof of Address (one of the following, dated within 3 months):

  • Utility bill (electricity, water, internet).
  • Bank or credit card statement.
  • Government-issued letter or tax notice.

Additional Verification (when necessary):

  • Source of funds or wealth declarations.
  • Employment confirmation or income proof.
  • Enhanced checks for politically exposed persons (PEPs).

6. Verification Process

The verification process involves several steps:

  1. Document Submission: Users upload required documents via the secure portal.
  2. Review & Validation: Our compliance team checks authenticity and matches details.
  3. Approval or Request for More Info: If documents are unclear or expired, additional information will be requested.
  4. Account Activation: Once verification is successful, the account is fully enabled.

Processing times may vary, but most verifications are completed within 24–72 hours.

7. Ongoing Monitoring

KYC is not limited to initial registration. We maintain continuous monitoring to detect suspicious activities.

This includes:

  • Reviewing large or unusual transactions.
  • Monitoring frequency of deposits/withdrawals.
  • Screening against global sanctions and watchlists.
  • Checking for inconsistencies with the user’s profile.

Suspicious activity may result in account restrictions, reporting to authorities, or termination.

8. Enhanced Due Diligence (EDD)

In higher-risk cases, such as PEPs or users from high-risk jurisdictions, we apply Enhanced Due Diligence (EDD) measures:

  • Additional documentation (proof of income and business background) is required.
  • More frequent reviews of account activity.
  • Senior management approval for account continuation.

9. Data Protection and Confidentiality

We take privacy seriously. All KYC data is handled in accordance with our Privacy Policy.

  • Documents are stored securely with restricted access.
  • Information is encrypted in transit and at rest.
  • Data is retained only as long as required by law (typically 5–7 years).
  • We do not sell or share KYC data for marketing purposes.

10. User Responsibilities

By using our services, you agree to:

  • Provide accurate and up-to-date information.
  • Submit requested verification documents in a timely manner.
  • Inform us of any changes (e.g., address, legal name, nationality).
  • Do not engage in attempts to bypass or falsify verification.

Failure to cooperate may lead to account suspension or closure.

11. Consequences of Non-Compliance

If a user refuses or fails to complete KYC:

  • Deposits may be blocked.
  • Withdrawals will not be processed.
  • The account may be frozen or terminated.
  • Relevant authorities may be notified in cases of suspected fraud or money laundering.

12. Training and Internal Procedures

Our compliance team and staff receive ongoing training on:

  • AML and KYC obligations.
    Identifying suspicious transactions.
  • Handling and protecting customer data.

Regular audits are conducted to ensure procedures are followed correctly.

13. Updates to This Policy

We may revise this KYC Policy to reflect:

  • Legal and regulatory changes.
  • Updates to our business model.
  • Industry best practices.

Revisions will be posted on our website with the updated “last revised” date.

14. Contact Us

For questions about this Policy or your verification process, please contact our compliance department:

📧 Email: support@insipixmail.com


Final Note:

KYC is essential for building a safe and transparent financial environment. By cooperating with these procedures, you help us protect the integrity of our platform and ensure compliance with global standards.

 

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