KYC and AML policy

1. Introduction

KYC means "know your customer". AML means anti-money laundering, and in Canada it is paired with measures against the financing of terrorism. Together they are a set of checks that financial and crypto businesses must run so that their services are not used for crime.

The purpose of these procedures is to confirm who you are, to understand how the account will be used and to detect activity that does not fit. They protect you as much as they protect us, because they make it harder for someone to open or use an account in your name.

2. What is KYC

KYC is the identification of a customer and the confirmation that the details provided are genuine. It normally involves your legal name, date of birth, address and a government-issued document that proves them.

We perform it when you open an account and again when your circumstances change, for example if you update your address or if a document expires.

3. What is AML

AML covers the ongoing prevention of money laundering: assessing risk when a relationship begins, watching for suspicious patterns afterwards, keeping records and reporting to the authorities where the law requires it.

It is not a one-time form. A user who passed identity checks can still be asked questions later if transactions look unusual for their profile.

4. Why identity verification is required

We verify identity to prevent fraud and identity theft, to keep accounts safe from takeover, to meet the Canadian rules that apply to money services businesses and to limit the financial risk of misuse. Verification also lets us return funds only to the person they belong to.

5. Documents we may request

We only ask for documents that we actually use in our process. Typically these are:

• Proof of identity: a valid passport, driver's licence or provincial photo card, with all four corners visible.
• Proof of address: a utility bill, bank statement or government letter, dated within the last three months.
• A selfie or liveness check: a short photo or video to confirm that the person holding the document is the account holder.

Photographs must be clear, in colour and uncropped. Edited, expired or unreadable documents will be rejected.

6. How verification works

1. You register and give your personal details.
2. You upload the documents and complete the selfie check.
3. An automated check compares the data, the document and the photo.
4. A compliance specialist reviews the case by hand where the automated check is unclear.
5. You are told the outcome by email and on your dashboard.

7. Enhanced due diligence

Some situations call for a closer look: large or unusual transactions, links to higher-risk jurisdictions, or inconsistent information. In these cases we may ask for additional documents, an explanation of the source of funds or of wealth, and further information about the intended use of the account.

8. How long it takes

Straightforward cases are often completed within one business day. The duration depends on the quality of your documents, whether a manual review is needed and how quickly you reply to follow-up questions. We do not promise a fixed turnaround, and we ask you to submit complete documents the first time.

9. Reasons for refusal or suspension

• Documents that are invalid, expired, unreadable or visibly altered.
• Details that do not match between the form, the documents and the selfie.
• Suspected forgery or use of another person's identity.
• A refusal to provide requested information.
• Other grounds required by law or by our risk controls.

We will tell you if a check cannot be completed, and when we are legally able to say why, we will.

10. Transaction monitoring

Deposits, withdrawals and account activity are monitored against rules and risk scores. Where activity looks unusual, we may ask questions, delay a payment while we review it or restrict particular features until we are satisfied. Where the law requires, we report suspicious activity to the authorities, and we may be prohibited from telling you that we have done so.

11. Your responsibilities

You must provide accurate, current and genuine information and documents, and update us if they change. Providing false information may lead to account closure, withholding of funds as the law allows and a report to the authorities.

12. Data storage and protection

KYC and AML records are encrypted and kept for the period required by Canadian law, which can extend beyond the closure of your account. How personal data is handled in general is described in our Privacy Policy.

13. Sharing of data

Where applicable, data may be shared with identity verification providers, technology suppliers, affiliated companies, regulators and government authorities. Each recipient receives only what it needs, under written obligations to protect it.

14. Regulatory compliance

These procedures follow the Canadian framework for anti-money laundering and anti-terrorist financing, including the requirements overseen by FINTRAC, together with the securities rules of the provinces where we serve clients. See Licensing and regulation.

For readers who want a practical summary: expect to be asked who you are, where you live and where your money comes from. These questions are the same ones you would meet at a Canadian bank, and the answers are used only for compliance and protection.

A common cause of delay is a document photographed in poor light, or a proof of address that is older than three months. Preparing both before you start usually shortens the process to a single step.

Politically exposed persons and sanctions. As part of onboarding we screen against sanctions lists and for politically exposed persons, which are people who hold or have held prominent public positions, and their close family and associates. A match does not automatically lead to a refusal, but it does mean we may need additional information and senior approval before we can open or continue an account.

Ongoing review. Verification is not a one-time event. Accounts are reviewed periodically, with more frequent reviews for those assessed as higher risk. If your details change, a document expires or your activity changes materially, we may ask you to update your information.

Third-party funding. Deposits must come from an account or payment method in your own name. We cannot accept payments made on behalf of someone else, and a payment from a third party may be returned and reviewed under the procedures above.

15. Contact

Questions about verification or this policy can be sent to [email protected]. Please do not send identity documents by email unless a specialist has asked you to; use the secure upload in your account.