Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations are common across the financial world. They also play an important role in blockchain-based crypto asset companies. Invictus Capital is required by international financial regulation to ask for certain information which is stored securely and not shared publicly. Regulations vary between countries however, and companies that provide financial services and cryptocurrency services must follow KYC or AML regulations.
What is KYC and what is required?
KYC is all about verifying your identity. This requires authenticating an identity document and also by authenticating your face via a photograph. People can easily submit Identity documents that do not belong to them however they are unable to take a live photograph of the person whose image also appears in the identity document. This is why Invictus take a picture of you when verifying your identity.
1) Authenticating your identity
In order to verify your identity the following are accepted forms of identification:
National ID card;
Residency or citizen card/permit;
No student or membership cards are accepted.
The documents need to be clear and not blurred. They also need to meet the below requirements:
No larger than 4MB;
Clearly displays your face on the ID document;
Cannot be expired;
Displays clearly your date of birth.
When you take a picture of your document please ensure:
The edges of the document are visible in the picture (do not take a picture and crop off the edges);
There is no glare or reflection (this can occur when your documents are laminated. It may help to turn off your camera flash when taking the picture);
The document is legible, the information must be clear and easy to read;
If you do not have a camera on your desktop computer/laptop then log into your Invictus Capital account with your mobile phone to complete the process.
2) Authenticating your face
In order to verify you fully we need to take a picture of your face to match your likeness to the picture of you in your identity document. Please follow the below guidelines:
We do not accept pictures taken previously that have been saved, the picture needs to be taken by Invictus Capital while you are logged into your Invictus Capital account and completing the identity verification process;
If you do not have a camera on your desktop/ laptop please log into your Invictus Capital account and complete the process using the camera on your mobile phone;
Remove your glasses and any headwear;
Do not hold any objects or any documents in the photo. Only you should appear in the photo;
Ensure there is good lighting so you appear clearly in the photo;
Please look directly into the camera with your eyes open.
What is AML and what is required?
Anti Money Laundering (AML) is an international requirement that ensures you are the owner of your funds and that you can verify your address. These laws, procedures and regulations aim to prevent criminals from disguising illegally obtained funds as legitimate income. You will need to submit two types of documents to pass AML checks and verify your account. The first is proving your source of funds and the second is verifying your current address.
Take a picture of your document/s and get them ready for upload before you start the verification process. When taking photos of the documents ensure the following:
Image is no larger than 4MB;
Edges of the document must be clearly visible;
No altered/edited images will be accepted;
No screen grabs will be accepted;
All information must be clearly legible.
1) Authenticating your Source of Funds / Proof of Funds
One of the following documents must be uploaded:
Bank/credit card statement - must include account information and show recent activity;
Proof of investments - including third party information;
Pay/income slip (proof of salary);
Tax return certificate - not older than 12 months and must reflect financial return totals;
Proof of inheritance/donations received;
Passive income (rental, dividends, interest) - a copy of the client’s recent tax return not more than 12 months old is asked for here
Retirement/pension fund - a copy of the letter/statement from the fund showing the amount received
Trust account statement, including proof of withdrawal
2) Authenticate your current address
One of the following documents must be uploaded, all documents listed below cannot be older than 3 months and must be in your name only and clearly show your current address:
Bank/credit card statement - must include account owner information;
Property rates and taxes account statement or bill;
Bank mortgage statement;
Telephone or mobile bill - excluding pay as you go;
Electricity/utility statement or bill;
Rental agreement - signed by all parties and certified by a commissioner of oaths.
It is very important to follow the instructions carefully in order to have your account approved successfully as you will not be able to use your account without being verified.
If you need any further assistance regarding your AML/KYC verification please contact [email protected]