KYC (KNOW YOUR CUSTOMER) POLICY
The Company is an online company and therefore business relationships between the company and its customers are not established on a face-to-face basis. For Customer identification purposes the Company uses electronic data brokers (linked with other in-house checks e.g., identifying duplicate accounts, confirming ownership of bank accounts etc.) to verify the Customer’s identity. This will be used to determine and document the true identity of Customers to obtain background information the intended nature of their business with the Company.
Upon the commencement of a business relationship between the two parties, the Company shall request certain valid identification documentation from the Customer. During the course of the business relationship between the two parties, the Company can request additional documentation or information from Customer to verify for additional verification or updating existing verification.
Some circumstances may require us to request these documents before allowing any other activities in your account, such as deposits or trades. Please note that if we do not receive the required documents on file, your pending withdrawals will be cancelled and credited back to your trading account. We will notify you of such an event via our system.
You must be sure that you are able to confirm your identity by the provision of documents as required. If you are unable to do so, this may prevent the activation of an account with Beta-Tech.
The requirements are:
- Colour copies of both front and back of a valid Passport or a Government-issued ID.
- A copy of a recent utility bill or bank statement with your name and address (no more than 3 months old).
All four corners of the documents must be clearly visible with no alterations to the documents.
Please scan your documents, or take a high-quality digital camera picture, save the images as jpegs OR pdfs, then send them to us via mail to [email protected].
*** Please note that if one or all of your documents are rejected by Beta-Tech’s Compliance, we will then require you to submit the documents again. ***
Beta-Tech has in place a highly complex security infrastructure and treats security of documentation as our main priority. We handle all documents received with the utmost respect and confidentiality. All files we obtain are protected at the highest encryption level possible at every step of the review process.
We thank you for your cooperation in helping us make Beta-Tech a safer place to trade.
ANTI-MONEY LAUNDERING (AML) POLICY
Beta-Tech does not tolerate money laundering and supports the fight against money launderers. Beta-Tech follows the guidelines set by the Financial Action Task Force (FATF). The FATF is an independent inter-governmental body that develops and promotes policies to protect the global financial system against money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction. The FATF Recommendations are recognised as the global anti-money laundering (AML) and counter-terrorist financing (CFT) standard.
These guidelines include:
- Ensuring clients have valid proof of identification
- Maintaining records of identification information
- Determining that clients are not known or suspected terrorists by checking their names against lists of known or suspected terrorists
- Informing clients that the information they provide may be used to verify their identity
- Closely following clients’ money transactions
- Not accepting cash, money orders, third party transactions, exchange houses transfers or Western Union transfers.
Beta-Tech directs funds withdrawals back to the original source of remittance, as a preventative measure. International Anti-Money Laundering requires financial services institutions to be aware of potential money laundering abuses that could occur in a customer account and implement a compliance program to deter, detect and report potential suspicious activity. These guidelines have been implemented to protect Beta-Tech and its clients.
For questions/comments regarding these guidelines, please contact us at [email protected]
