AML / KYC policy

1. Introduction

Know Your Client (KYC) and Anti-Money-Laundering (AML) procedures exist for a simple reason: a financial platform must know who it serves, and must not serve as a channel for the proceeds of crime. This page explains what the abbreviations mean, what we ask of you, what happens to the information you provide, and what your own responsibilities are.

Verification is a condition of using the platform. It protects honest clients as much as it protects the company: identity checks are what make cloned firms and account takeovers harder, and they are what allow withdrawals to be released to the person who actually owns the account.

2. What KYC is

KYC is the process of identifying a client and confirming that the details they have given are true and current. In practice this means collecting your legal name, date of birth and residential address, and then confirming them against documents issued by trusted bodies, such as a passport or driving licence and a bank statement or utility bill.

Identification is not a one-off event. Details are re-checked when they change, when documents expire, and when activity on the account gives reason to believe the information on file may no longer be accurate.

3. What AML is

Anti-Money-Laundering work is the broader programme around identity checks. It includes assessing the risk each client and transaction pattern presents, monitoring activity for signs that funds may have an unlawful origin, and reporting through the channels required by applicable UK law where suspicious activity is identified.

AML work also covers countering the financing of terrorism (CTF): screening names against applicable sanctions and watch lists, and refusing or ceasing service where a match or a serious concern arises. Screening happens at onboarding and repeats as lists are updated.

4. Why identity verification is required

Verification prevents fraud at the door. A stolen card or a hijacked email account cannot pass a document check backed by a selfie, so attackers are stopped before a deposit rather than after a withdrawal. It protects your account in exactly the same way: another person who knows your password still cannot become you.

It is also a legal requirement for the services the platform provides, and it reduces financial risk for everyone involved, including the payment providers that move your deposits and withdrawals. Without verification, the honest majority pays for the behaviour of the dishonest few.

5. Documents we ask for

For identity: a current passport, national identity card or UK driving licence, photographed or scanned in full, with every corner visible and no glare. For address: a bank statement, credit card statement, council tax bill or utility bill issued within the last three months, showing your name and residential address.

Where a check cannot be completed automatically, we may ask for a short selfie or liveness capture to confirm that the person submitting the documents is their owner. We do not use biometric identification beyond that check, and we do not request documents we cannot justify needing.

6. The verification process, step by step

1. Registration. You create the account with your name, email address and telephone number.
2. Submission. You upload identity and address documents, and a selfie where requested, through the secure section of your dashboard.
3. Automatic check. The system compares the documents with trusted data sources and checks image integrity. Most checks complete here.
4. Manual review. Where the automatic result is inconclusive, a member of the compliance team reviews the submission by hand.
5. Outcome. You are notified of the result by email, normally within one business day, together with precise reasons if anything further is needed.

7. Enhanced due diligence

Some situations call for enhanced due diligence (EDD): higher-value accounts, clients with complex ownership structures, addresses in higher-risk jurisdictions, or activity patterns that are legitimate but unusual. EDD may add questions about the source of funds and the origin of wealth, request additional documents, or require a call with the compliance team.

EDD is not an accusation. It is the proportionate response required where more money or more complexity means more questions, and most enhanced checks conclude without any change to the account.

8. How long verification takes

Standard verification normally completes within one business day of a clear submission, and often within hours. Timelines depend on the quality of the documents, whether the automatic check is conclusive, and whether EDD applies. The clock runs from the moment a complete, readable submission is received, not from registration.

9. Reasons a check can be declined or suspended

• Documents that are expired, cropped, blurred or obscured by glare.
• Details on the documents that do not match the details given at registration.
• Indications that a document has been altered, or suspicion of a fabricated submission.
• Information requested by us that is not provided within a reasonable period.
• A sanctions match or other legally grounded concern that cannot be resolved.

A declined check is not always final. Where the reason is quality or a mismatch, you are told exactly what to correct and invited to resubmit.

10. Transaction monitoring

Deposits and withdrawals are monitored for patterns associated with money laundering: rapid pass-through of funds without trading activity, amounts structured to sit just under thresholds, sudden changes in behaviour without explanation, and transfers inconsistent with the profile of the account.

Where monitoring raises a concern, individual functions such as withdrawals may be restricted while the matter is reviewed. Restrictions of that kind are protective, they are applied as narrowly as possible, and they are lifted as soon as the review concludes satisfactorily.

11. Your responsibilities as a client

You are responsible for providing accurate, current and genuine information, and for updating it when it changes. Using the account in your own name only, funding it from accounts or wallets you control, and never allowing a third party to operate it on your behalf are conditions of service.

Providing false information, acting for an undisclosed third party, or using the platform to receive and forward funds for others are breaches of these terms. The consequences range from verification failure and account closure to the legally required reporting of the activity.

12. Storage and protection of verification data

Identity documents and verification records are stored encrypted, with access restricted to the compliance roles that need it, and are kept only for as long as the law requires. The handling of all personal data, verification data included, is described in the Privacy Policy, which also explains your rights over that data.

13. Who verification data can be shared with

Information is shared only where it is necessary or lawful: with the identity-verification providers that run the automated checks, with the IT providers that host the encrypted systems, with payment partners involved in your transactions, and with regulators or other public authorities where disclosure is required by law. Every recipient is bound by contractual confidentiality and data-protection obligations.

14. Compliance with applicable UK requirements

Quanaliz applies the identity-verification, record-keeping and suspicious-activity obligations that apply to its services under UK law, aligned with the framework described on the Licensing and regulation page. Procedures are reviewed regularly and updated as requirements change; this page always reflects the current practice.

15. Questions and contact

If anything in this policy is unclear, or you want to check the status of your own verification, write to [email protected], Monday to Friday, 9:00–17:30 GMT/BST (excluding public holidays). The Client Support & Compliance team answers KYC and AML questions first, and replies usually arrive within one business hour.