Know Your Customer (KYC) Policy

This Know Your Customer (KYC) Policy establishes Kuraye's procedures for verifying the identity of our customers, understanding their business activities, and assessing the risk they pose. The policy covers identity verification, address verification, business verification, corporate documentation, government ID validation, liveness checks, verification failures, manual reviews, suspended verification, rejected verification, appeals, and fraud indicators.

This policy applies to all individuals and entities seeking to establish or maintain a business relationship with Kuraye, including individual consumers, enterprise customers, marketplace sellers and service providers, corporate entities and partnerships, and authorised signatories and beneficial owners.

Customers must provide full legal name matching government ID, date of birth, current residential address, government-issued photographic ID, and contact details. Verification methods include automated identity verification through certified providers, document authenticity and validity checks, biometric or liveness verification where required, manual compliance review for edge cases, and cross-referencing against watchlists and adverse data.

Address verification requires recent utility bill, bank or credit card statement dated within 3 months, government correspondence, mortgage statement or tenancy agreement, or electoral roll entry. Business verification includes registered company name and number, jurisdiction of incorporation, registered office address, nature of business activity, trading address verification, contact details, website and online presence, and employee count.

Corporate customers must provide certificate of incorporation or registration, articles of association or memorandum, current register of directors and secretary, confirmation statement or annual return, proof of registered address, tax identification number, and evidence of authorised signatories. Acceptable government-issued photographic ID includes passport, national identity card, full driving licence, or government-issued identity card.

Liveness checks are required for high-risk customers and transactions, EDD-mandated onboarding, significant changes to verified identity, re-verification following fraud indicators, and compliance officer discretion. Methods include real-time facial capture matching verified ID photo, challenge-response verification, biometric comparison by certified provider, and manual compliance review where automated methods fail.

Verification may fail where documents are illegible, altered, or obviously fraudulent; identity cannot be confirmed; information is inconsistent; liveness check fails; watchlist or sanctions match is found; fraud indicators are present; or documents are expired or invalid. Failed verification may result in request for alternative documentation, manual review escalation, temporary account restriction, or account rejection.

Manual compliance review is triggered by automated verification failure, unclear or inconsistent documentation, cross-border or high-value onboarding, complex corporate structures, PEP or adverse media matches, and fraud indicators. Manual reviews are completed within 5 business days where possible.

Verification is suspended where documents have expired, address has changed and not been updated, additional information is required, manual review is pending, or re-verification is triggered by risk assessment. Suspended accounts cannot initiate new transactions. Verification may be rejected where identity cannot be established, documents are confirmed fraudulent, sanctions or PEP matches are confirmed, beneficial ownership cannot be resolved, false or misleading information is provided, or fraud is confirmed or highly suspected.

Customers whose verification is rejected may appeal within 30 calendar days by submitting corrected or additional documentation. Appeals are reviewed by the Compliance Officer within 10 business days. Independent review is available where required. Appeals do not guarantee account reinstatement.

Fraud indicators include altered, forged, or counterfeit documents; stolen identity documents; mismatched photos or personal details; reluctance to provide complete information; pressure to expedite verification; multiple accounts from same device or IP; unusually large transactions inconsistent with profile; structuring to avoid verification thresholds; shell company characteristics; and complex ownership structures with no commercial rationale.

For inquiries regarding KYC procedures, identity verification, business verification, or appeals, please contact our compliance desk at info@aakuraye.tech.