KYC Process and Policy
Effective Date: August 9, 2024
Last Reviewed: August 9, 2024
Next Review Date: August 9, 2025
1. Purpose
The purpose of this KYC (Know Your Customer) Process and Policy is to ensure that Syma R&M Solution Kft. complies with all relevant legal and regulatory obligations regarding customer identification and verification. This policy aims to prevent the platform from being used for money laundering, terrorist financing, fraud, or other illegal activities.
2. Scope
This policy applies to all customers, users, and stakeholders engaging with Syma R&M Solution Kft. including but not limited to content creators, affiliates, and buyers. It covers the collection, verification, and ongoing monitoring of customer information.
3. Definitions
- KYC (Know Your Customer): The process of verifying the identity of customers and assessing potential risks of illegal intentions for the business relationship.
- Customer: Any individual or entity that engages with Syma R&M Solution Kft.’s services, including content creators, affiliates, and purchasers of content.
- AML (Anti-Money Laundering): Measures and procedures aimed at detecting, preventing, and reporting money laundering activities.
- CDD (Customer Due Diligence): The process of gathering and verifying information about a customer to ensure they are who they claim to be and to assess their risk level.
4. Policy Statement
Syma R&M Solution Kft. is committed to preventing the use of its platform for illegal activities. To achieve this, Syma R&M Solution Kft. will implement a robust KYC process that ensures all customers are properly identified and verified before they can access services or receive payments.
5. KYC Process
The KYC process at Syma R&M Solution Kft. involves the following steps:
Step 1: Customer Identification
- Information Collection:- Personal Information: Full legal name, date of birth, nationality, and residential address.
- Identification Documents: Government-issued ID such as a passport, driver’s license, or national ID card.
- Proof of Address: Utility bills, bank statements, or government-issued documents not older than three months.
- Business Information (if applicable): Business name, registration number, legal structure, and address.
Step 2: Verification
- Document Verification:- Validate the authenticity of identification documents through third-party verification services.
- Confirm that the address provided matches official records.
- Risk Assessment:
- Assess the customer's risk level based on factors such as location, type of business, and transaction patterns.
- Assign a risk rating (low, medium, high) and determine the appropriate level of due diligence required.
Step 3: Enhanced Due Diligence (EDD)
High-Risk Customers:
- Conduct enhanced due diligence for customers identified as high-risk. This may include additional documentation, more in-depth background checks, and closer monitoring of transactions.
- Perform ongoing monitoring of high-risk customers' activities to detect any unusual or suspicious behavior.
Step 4: Ongoing Monitoring
Transaction Monitoring: - Continuously monitor customer transactions to detect unusual or suspicious activity.
- Utilize automated systems to flag transactions that deviate from the customer’s usual patterns or exceed pre-defined thresholds.
Periodic Reviews:
- Conduct regular reviews of customer information and risk assessments, especially when there are significant changes in customer behavior or external risk factors.
- Update customer records and risk profiles as needed.
Step 5: Record Keeping
Data Retention:
- Retain all KYC documents, verification records, and transaction logs for a minimum of five years from the end of the customer relationship.
- Ensure that all records are securely stored and protected from unauthorized access.
Step 6: Reporting
Suspicious Activity Reporting:
- Report any suspicious activities to the relevant authorities in accordance with legal and regulatory requirements.
- Maintain confidentiality and ensure that reporting does not alert the customer.
6. Roles and Responsibilities
- Compliance Officer: Therese Sifé will oversee the implementation and enforcement of the KYC process. He will also ensure that all employees are trained on KYC procedures and that the process is regularly reviewed and updated.
- All Employees: Must comply with the KYC process and report any suspicious activities or non-compliance with this policy.
7. Training and Awareness
Syma R&M Solution Kft. will provide regular training to all employees involved in the KYC process to ensure they understand their roles and responsibilities. Training will cover regulatory requirements, risk assessment, and reporting procedures.
8. Policy Review
This policy will be reviewed annually or more frequently if necessary to ensure its effectiveness and compliance with applicable laws and regulations.
9. Compliance
Non-compliance with this policy may result in disciplinary action, up to and including termination of employment or contracts.
10. Contact Us
For any questions or concerns regarding this policy, please contact:
Syma R&M Solution Kft.
Email: support@syma-creators.com
Phone: +44 7488 813802
