KYC / AML policy

1. Introduction

Know Your Customer (KYC) and Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) procedures exist to confirm that the person behind an account is who they say they are, and to detect misuse of financial services. They are a legal expectation for providers of services involving digital assets in Australia, not an optional extra.

The aims of this policy are to protect you and other users, to keep the platform clean and to meet our obligations to the regulators described on the licensing page.

2. What is KYC

KYC is the process of identifying a customer and confirming that the information they provided is genuine. In practice it means collecting your legal name, date of birth and address, and checking them against an official document and, where needed, against a live image of you.

KYC is performed when you open an account and repeated if your circumstances change materially or documents expire.

3. What is AML / CTF

AML and CTF describe the controls a provider uses to prevent criminals from moving illegal money through the system. They include assessing the risk each customer presents, watching for unusual patterns, keeping records, and reporting suspicious matters to the authorities when required.

These controls run continuously. A customer who passed verification last year is still subject to monitoring today.

4. Why identity verification is required

Verification prevents fraud such as account opening with stolen identities, protects your account from takeover, helps us to meet the legal requirements that apply to us, and reduces financial risk for everyone using the platform. Without it, a bad actor could use your name, or a stranger's, to open accounts that harm others.

5. Documents we may request

We only ask for documents that we actually use for verification. For identity, an unexpired government-issued photo ID: an Australian passport, a driver licence or a proof of age card. For address, a recent utility bill, bank statement or government letter showing your name and residential address, usually dated within the last three months.

Where a document alone is not enough, we may ask for a selfie or a short liveness check, which compares your face with the photo on your ID. This is a one-time step and the image is used only for verification.

6. Verification process

1. Register. Create an account with your name, email and phone number.
2. Submit details and documents. Upload your ID and proof of address through the secure form.
3. Automated check. Software reads the document, checks it for tampering and compares the data you entered.
4. Manual review when needed. A compliance analyst looks at cases the software cannot clear alone.
5. Confirmation. You receive the result by email and inside your dashboard.

7. Enhanced due diligence

Some customers or transactions present a higher risk, for example large deposits, activity inconsistent with the stated profile, or links to higher-risk jurisdictions. In those cases we apply enhanced due diligence (EDD), which may mean asking for further information on the source of funds or source of wealth, such as payslips, a sale contract or tax records.

An EDD request does not mean we think you have done something wrong. It is a standard step for certain risk profiles, and answering promptly shortens the review.

8. How long verification takes

Most clear cases are decided within one business day after all documents are received. Complex cases or those needing EDD can take longer. Timing depends on document quality, whether details match across sources, the current volume of cases and whether additional information is requested.

9. Reasons for refusal or suspension

A verification can be declined or paused if documents are expired, unreadable or cropped, if the details do not match across documents, if we suspect forgery or alteration, if requested information is not provided, or if there are other grounds under the law that apply.

We will tell you that the check could not be completed and, where the law allows, what to correct. You can submit new documents at any time.

10. Transaction monitoring

Deposits, withdrawals and account activity are monitored for patterns that are unusual for a customer's profile. Our systems assess risk and flag cases for human review. If activity looks suspicious, we may temporarily restrict certain functions, such as withdrawals, while we investigate.

We may be legally required to report suspicious matters to the authorities and, in some cases, we are not allowed to tell you that we have done so.

11. Your responsibilities

You must provide accurate, current and genuine information and documents, and tell us promptly when your details change. Supplying false or altered documents can lead to account closure, a report to the authorities and, depending on the facts, criminal consequences.

12. Storage and protection of data

KYC and AML records are encrypted, access-controlled and kept for the period required by Australian law, which is generally at least seven years after the relationship ends. They are used only for the purposes in this policy. More detail on how personal information is handled is in the Privacy Policy.

13. Sharing of data

Where it is necessary, verification data may be shared with identity verification providers, IT service providers that host or process it for us, affiliated companies in the group, and regulators and government authorities that are legally entitled to receive it. We require service providers to protect your data to the same standard we apply ourselves.

14. Compliance with requirements

Our programme is designed to meet the AML/CTF requirements administered by AUSTRAC and the financial services requirements overseen by ASIC, as they apply to the services we provide. It is reviewed regularly and updated when the rules or our products change.

Updating your information

Verification is not a one-off event. If you move home, change your name or receive a new passport or licence, update your details in your account so that your record stays accurate. We may also ask you to refresh documents when they expire, which helps us avoid sudden restrictions later.

15. Contact and support

For questions about KYC, AML/CTF or the status of your verification, email [email protected]. Please include the email address linked to your account, but never send full document images by email unless asked to use a secure upload link by our team.