KYC Policy

This KYC Policy is effective dated: June 01, 2024

Control Document: GEF-PP-002, Ver. 1.0

Purpose

The purpose of this KYC (Know Your Customer) Policy is to outline the procedures for collecting and providing basic customer information to regulated authorities. This policy ensures compliance with legal and regulatory requirements, assists in the prevention of fraud and money laundering, and supports the security and trustworthiness of our platform.

Scope

This policy applies to all customers using our platform, including individuals and entities engaging in financial transactions or accessing services that require identity verification. While detailed KYC procedures are primarily conducted by banks, our platform will facilitate the provision of basic customer information to regulated authorities as necessary.

Customer Information Collection

Information Required

To facilitate the KYC process conducted by banks and to comply with regulatory requirements, the following basic information will be collected from customers:

  • Individuals: Full name, date of birth, nationality, address, and contact details.
  • Entities: Legal name, registration number, registered address, and contact details.

Data Collection Methods

  • Online Forms: Customers will provide the required information through secure online forms during the registration process.
  • Verification: Basic information may be verified through automated checks against official databases where applicable.

Information Sharing with Banks

Collaboration with Banks

Our platform will collaborate with banks to ensure that the necessary customer information is provided to facilitate the banks’ detailed KYC processes.

  • Data Transmission: Basic customer information will be securely transmitted to the relevant banks as required.

Customer Consent

  • Consent Requirement: Customers must consent to the sharing of their basic information with banks for KYC purposes during the registration process.

Compliance and Reporting

Regulatory Compliance

This policy ensures compliance with all applicable laws and regulations related to customer identification, anti-money laundering (AML), and combating the financing of terrorism (CFT).

Reporting to Authorities

  • Suspicious Activities: Any suspicious activities or transactions identified through the collection of basic information will be reported to the relevant regulatory authorities in accordance with legal requirements.

Customer Responsibilities

Accurate Information

Customers are required to provide accurate and truthful information during the registration process.

  • Updates: Customers must promptly notify the platform of any changes to their basic information.

Cooperation

Customers must cooperate with any requests for additional information or documentation as required for regulatory compliance.

Data Protection

Confidentiality

Customer information will be handled in accordance with our Data Privacy Policy, ensuring confidentiality and protection against unauthorized access.

Secure Storage

  • Electronic Records: Digital records of customer information will be securely stored in an encrypted database.
  • Physical Records: Any physical documents will be stored in a secure location with restricted access.

Policy Review and Updates

This policy will be reviewed annually and updated as necessary to ensure its effectiveness and alignment with legal requirements and industry best practices.

Quick Contact

By adhering to this KYC Policy, galaxefi aims to support regulatory compliance, prevent fraud, and enhance the security and integrity of our platform. For questions or concerns about this Policy, please use the following form: