Know Your Customer (KYC) Policy

1. Introduction

This KYC policy outlines the procedures and responsibilities for verifying the identity of our customers, understanding their activities, and managing risks related to money laundering, fraud, and other illegal activities. Compliance with this policy ensures that Traderai.academy adheres to legal and regulatory standards.

2. Objectives

To establish a reliable method for customer identification.
To prevent the use of our services for illegal activities.
To comply with relevant laws and regulations.
To protect our company from repetitional and operational risks.

3. Scope

This policy applies to all customers, employees, agents, and third-party service providers involved in the onboarding process and transaction monitoring.

4. Customer Identification Program (CIP)

4.1 Information Collection

Individual Customers:
Full name
Date of birth
Residential address
Government-issued identification number (e.g., passport, national ID, driver’s license)
Full GlobalPass screening report

Corporate Customers:
Company name
Registered address
Registration number
Names of directors and beneficial owners
Identification documents for key individuals
Signed service agreement

4.2 Verification Procedures By Global Pass

We verify the authenticity of identification documents through official databases or third-party services using GlobalPass. Conduct face-to-face or video call verification if necessary. For corporate customers, verify registration details and ownership structures through official registries.

5. Customer Due Diligence (CDD)

5.1 Risk Assessment

Classify customers into risk categories (low, medium, high) based on their profiles, business nature, and transaction patterns. High-risk customers may include those from high-risk jurisdictions, politically exposed persons (PEPs), and those with complex ownership structures.

5.2 Enhanced Due Diligence (EDD)

Apply additional scrutiny for high-risk customers, including detailed verification of identity and source of funds. Regularly update information and monitor transactions closely.

6. Ongoing Monitoring

Continuously monitor transactions to detect suspicious activities. Use automated systems to flag unusual transactions for further review.
Maintain records of all transactions and verification steps for at least [3] years.

7. Reporting And Record Keeping

Report suspicious transactions to the relevant authorities in accordance with local regulations. Insure secure storage and accessibility of customer identification and transaction records for audit purposes.

8. Training And Awareness

Conduct regular training sessions for employees on KYC procedures, AML regulations, and identifying/reporting suspicious activities.
Ensure all relevant staff are aware of their responsibilities under this policy.

9. Policy Review

This policy will be reviewed annually or as required to ensure its effectiveness and compliance with regulatory changes.

10. Approval And Implementation

This policy is approved by the Board of Directors of Traderai.academy Limited and is effective as of May 1st 2024

11. Contact Information

This KYC policy provides a structured approach for Traderai.academy to verify and monitor customer activities, ensuring compliance with legal requirements and mitigating risks associated with financial crimes.