Know Your Customer (KYC) Policy

Golden Ledger LTD

Effective Date: [Insert Date]

1. Purpose Golden Ledger LTD is committed to ensuring compliance with legal and regulatory requirements by implementing a robust Know Your Customer (KYC) policy. This policy aims to verify the identity of our customers, mitigate risks, and maintain the integrity of our services.

2. Scope This policy applies to all employees, contractors, and partners of Golden Ledger LTD involved in customer interactions and verification processes.

3. Key Principles

  • Compliance with Regulations: Adhering to all applicable KYC-related laws and regulations in the UK and EU.
  • Transparency: Ensuring customers understand the purpose of our verification processes.
  • Risk-Based Approach: Tailoring verification measures based on the risk profile of each customer.

4. Customer Verification Golden Ledger LTD follows a structured approach to customer verification:

  • Identity Verification: Collecting and verifying government-issued ID (passport, national ID card, or driving license).
  • Address Verification: Collecting proof of address (e.g., utility bill, bank statement, or official correspondence).
  • Photo Verification: Capturing a photo of the customer during the verification process for record-keeping.
  • Enhanced Verification: Additional checks for high-risk customers, such as politically exposed persons (PEPs) or customers from high-risk jurisdictions.

5. Data Collection and Storage We collect the following data as part of our KYC process:

  • Full name
  • Date of birth
  • Contact details (phone, email)
  • Address and proof of residence
  • Photo and video (if applicable)
  • Transaction history

All data is securely stored for a minimum of 5 years after the customer’s last transaction, in compliance with regulatory requirements.

6. Risk Assessment and Categorization Customers are categorized into low, medium, or high-risk groups based on:

  • Geographic location
  • Transaction patterns
  • Occupation and source of funds

Enhanced verification measures are applied to medium and high-risk customers.

7. Ongoing Monitoring Golden Ledger LTD conducts ongoing monitoring of customer activities to detect and prevent suspicious transactions. This includes:

  • Regular updates of customer information.
  • Analysis of transaction patterns.
  • Immediate reporting of suspicious activities.

8. Training and Awareness We provide regular training to employees on KYC procedures, ensuring they understand:

  • The importance of accurate verification.
  • How to identify and report suspicious activities.
  • Updates to KYC regulations.

9. Non-Compliance Consequences Failure to adhere to this policy may result in:

  • Disciplinary action, including termination of employment or partnership.
  • Legal consequences, such as fines or penalties.

10. Review and Updates This policy is reviewed annually or as required to reflect changes in regulations or business operations.

Contact Information For any questions or concerns regarding this policy, contact our Compliance Officer:

  • Golden Ledger LTD
  • 42 Sheals Crescent, Maidstone, Kent ME15 6TJ, United Kingdom
  • Email: [email protected]