Know Your Customer (KYC) Policy
Know your Customer (KYC) Policy Apex AI Experts Limited
1. Introduction
2. Information We Collect
The personal information that you are asked to provide, and the reasons why you are asked to provide it, will be made clear to you at the point we ask you to provide your personal information. If you contact us directly, we may receive additional information about you such as your name, email address, phone number, the contents of the message and/or attachments you may send us, and any other information you may choose to provide. When you register for an Account, we may ask for your contact information, including items such as name, company name, address, email address, and telephone number.
3. Objectives
- To establish a reliable method for customer identification.
- To prevent the use of our services for illegal activities.
- To comply with relevant laws and regulations.
- To protect our company from repetitional and operational risks.
4. Scope
5. Customer Identification Program (CIP)
5.1 Information Collection
Individual Customers:
- Full name
- Date of birth
- Residential address
- Government-issued identification number (e.g., passport, national ID, driver’s license)
- Full Veriff screening report
Corporate Customers:
- Company name
- Registered address
- Registration number
- Names of directors and
- beneficial owners
- Identification documents for key individuals
- Signed service agreement
5.2 Verification Procedures by Veriff
We verify the authenticity of identification documents through official databases or thirdparty services using Veriff. Conduct face-to-face or video call verification if necessary. For corporate customers, verify registration details and ownership structures through official registries.
6. Customer Due Diligence (CDD)
6.1 Risk Assessment
Classify customers into risk categories (low, medium, high) based on their profiles, business nature, and transaction patterns. High-risk customers may include those from high-risk jurisdictions, politically exposed persons (PEPs), and those with complex ownership structures.
6.1.1 AML Screening
As part of our CDD process, all customers are subject to Anti-Money Laundering (AML screening using reliable databases to identify sanctions, watchlist matches, adverse media, and potential financial crime risks. This is carried out during onboarding and at regular intervals for continuous compliance.6.2 Enhanced Due Diligence (EDD) Apply additional scrutiny for high-risk customers, including detailed verification of identity and source of funds. Regularly update information and monitor transactions closely.
7. Ongoing Monitoring
Continuously monitor transactions to detect suspicious activities. Use automated systems to flag unusual transactions for further review. Maintain records of all transactions and verification steps for at least five (5) years in accordance with UK regulations.
8. Reporting and Record Keeping
Report suspicious transactions to the relevant authorities in accordance with local regulations. Ensure secure storage and accessibility of customer identification and transaction records for audit purposes.
9. Training and Awareness
Conduct regular training sessions for employees on KYC procedures, AML regulations, and identifying/reporting suspicious activities. Ensure all relevant staff are aware of their responsibilities under this policy.
10. Policy Review
This policy will be reviewed annually or as required to ensure its effectiveness and compliance with regulatory changes.
11. Approval and Implementation
This policy is approved by the Board of Directors of Apex AI Experts Limited and is effective as of March 27th, 2025.
12. Contact Information
For questions or further information regarding this policy, please contact the Compliance Officer at:
support@apexaiexperts.com