KYC Policy

Learn more about the mandatory requirements utilized in our client identification process.

Know Your Client (KYC) refers to the banking regulation that financial institutions and companies, including ClaimRegulator, must undertake to identify their clients and gather relevant information essential for establishing a financial business relationship.

  1. Definitions and Interpretation

In this KYC document, the following terms hold the respective meanings:

“KYC” refers to the Know Your Client policy.

“Company” pertains to ClaimRegulator.

  • 2. What is KYC

KYC, or “Know Your Client” is a compulsory requirement for client identification. ClaimRegulator will request documents to determine identity, beneficial ownership, source of funds, nature of the client’s business, and reasonableness of operations. This is in line with the Money Laundering and Terrorism (Prevention) Act and Money Laundering (Prevention) regulations, emphasizing a risk-based approach.

The KYC guidelines aim to prevent investment firms from being used for money laundering by criminal elements.

As part of our commitment to comply with AML Directives, we have outlined the KYC list specifying the required information/documents for assessment and acceptance as a client.

  • 3. Information Required

KYC involves Identity and Address components. Those wishing to engage with ClaimRegulator must submit documents confirming their identity and residential address, including:

  • National Identity Card or Passport
  • Recent Bank statement (no older than three months) for address verification

Additionally, ClaimRegulator may request the following documentation in cases where assistance is provided:

  • Power of attorney
  • Signed client agreement
  • 4. Objectives of the KYC Policy

Preventing the use of ClaimRegulator for money laundering activities by criminal elements.
Enhancing ClaimRegulator’s capacity to understand clients and manage risks associated with their financial transactions.

Implementing controls for detecting and reporting suspicious or potentially illegal activities in line with applicable laws and procedures.

  • 5. Importance of Complying with KYC Procedures

KYC procedures are integral to anti-money laundering laws, aiming to prevent income generation through illegal and criminal actions.

  • 6. How to Send Your Documents

Scan your documents or take high-quality camera pictures, save as JPEGs, and send them via email to support@claimregulator.com

  • 7. Privacy

ClaimRegulator is committed to protecting your privacy. We collect personal information solely to comply with prevalent laws and regulations, and we do not share your information with outside parties.