W7BT’s KYC (Know-Your-Customer) policy is designed to ensure that we are in compliance with applicable laws and regulations and to prevent misuse of our services by third parties. Our commitment to client knowledge allows us to provide quality services to our clients while maintaining the integrity of our business and the financial sector in general.
The KYC process starts once a client requests to open an account with us. We gather and verify client information, including name, address, date of birth, occupation, source of income and other relevant information. We also require the customer to provide us with appropriate documentation proving their identity and residential address, such as a passport, ID card or driver’s license.
For business clients, we need additional business information, including name, registered address, registration number, administrator and beneficial owner information, and other pertinent documents.
We may also conduct additional authentication to ensure that the information provided by customers is accurate. This may involve a credit audit or an audit of public sources of information, such as government records.
We also continually monitor our clients’ transactions for suspicious or unusual activity. If we detect unusual activity, we can suspend the account and contact the client to find out more.
Our commitment to KYC is an important part of our focus on maintaining integrity and confidence in our financial services. By complying with applicable regulations and ensuring the accuracy and integrity of our customers’ information, we can provide high-quality services that meet the needs of our customers and the marketplace at large.