Know Your Customer (KYC) Policies

1. Introduction

Coventus Capital (“Coventus,” “we,” “us,” or “our”) is committed to ensuring compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations to prevent fraud, money laundering, terrorist financing, and other illicit activities.

All users must undergo identity verification before accessing our platform’s services, including investment and loyalty token transactions. This policy outlines the KYC requirements, verification procedures, and regulatory compliance measures implemented by Coventus.

By using our platform, you agree to abide by these KYC policies.

2. Regulatory Compliance

Our KYC process complies with international and jurisdictional regulations, including:

  • Financial Action Task Force (FATF) Recommendations
  • European Union (EU) Anti-Money Laundering Directives (AMLDs)
  • U.S. Bank Secrecy Act (BSA) and USA PATRIOT Act
  • Financial Crimes Enforcement Network (FinCEN) Guidelines
  • Other applicable national and international AML/KYC laws

Coventus may update its KYC procedures to comply with evolving regulations.

3. KYC Verification Requirements

All users must complete KYC verification before engaging in transactions on Coventus. The required documentation and verification levels depend on the user’s risk profile and transaction volume.

3.1 Individual Users

For individuals, KYC verification requires:

  1. Government-Issued Identification (Passport, National ID, or Driver’s License)
  2. Proof of Address (Utility Bill, Bank Statement, or Official Document dated within the last 3 months)
  3. Selfie with ID (To ensure authenticity and prevent identity fraud)
  4. Source of Funds Declaration (For high-value transactions or at Coventus’s discretion)

3.2 Business & Institutional Accounts

For corporate entities, additional documentation is required:

  1. Certificate of Incorporation or Business Registration
  2. Memorandum & Articles of Association (if applicable)
  3. List of Ultimate Beneficial Owners (UBOs) holding 25% or more equity
  4. Identity Verification for Directors & UBOs
  5. Proof of Business Address (Recent Utility Bill or Lease Agreement)
  6. Declaration of Business Activities & Source of Funds

Failure to provide accurate and complete documentation may result in account suspension or denial of service.

4. KYC Verification Process

4.1 Standard Verification

  • Users submit required documents via our secure KYC portal.
  • Coventus’s compliance team reviews and verifies documents.
  • Users receive verification confirmation or additional document requests within 48–72 hours.

4.2 Enhanced Due Diligence (EDD)

Users flagged as high-risk (e.g., large transactions, PEPs, or users from high-risk jurisdictions) may be subject to Enhanced Due Diligence (EDD), requiring:

  • Additional financial documentation
  • Live video verification
  • Ongoing transaction monitoring

4.3 Politically Exposed Persons (PEPs) & Sanctions Screening

  • Coventus screens all users against sanctions lists, watchlists, and databases, including:
    • Office of Foreign Assets Control (OFAC) Sanctions List
    • United Nations (UN) Sanctions List
    • European Union (EU) Restrictive Measures
    • UK Financial Sanctions List
  • PEPs and individuals linked to sanctioned entities may be subject to additional scrutiny or service denial.

5. Risk-Based Approach (RBA)

Coventus applies a Risk-Based Approach (RBA) to KYC compliance, categorizing users based on potential risk factors, such as:

  • Low-Risk Users: Verified individuals with standard transactions.
  • Medium-Risk Users: Users with high transaction volumes or business accounts.
  • High-Risk Users: Users from jurisdictions with weak AML laws or those engaging in complex transactions.

Higher-risk accounts undergo additional due diligence and ongoing monitoring.

6. Ongoing Monitoring & Reporting

  • Transaction Monitoring: Coventus continuously monitors transactions for suspicious activity, including unusual patterns or large transfers.
  • Suspicious Activity Reports (SARs): If fraudulent or illegal activity is suspected, Coventus may file Suspicious Activity Reports (SARs) with relevant regulatory authorities.
  • Account Reviews: High-risk accounts are reviewed periodically to ensure continued compliance.

7. Data Protection & Privacy

Coventus follows GDPR, CCPA, and other applicable data protection laws to safeguard user information.

  • KYC data is encrypted and stored securely for a minimum of five (5) years to comply with legal requirements.
  • User data is never shared or sold to third parties without legal obligation or user consent.
  • Users may request access to, correction, or deletion of their data, subject to compliance regulations.

8. Failure to Comply

Failure to complete KYC verification or comply with AML policies may result in:

  • Account Suspension or Termination
  • Restricted Transaction Capabilities
  • Legal or Regulatory Action

Coventus reserves the right to deny service to any user who fails to meet KYC compliance requirements.

9. Amendments to This Policy

Coventus may update this KYC Policy periodically to align with regulatory changes. Continued use of our platform constitutes acceptance of any modifications.

10. Contact Information

For KYC-related inquiries or verification assistance, contact us at:
Email: legal@coventuscapital.com

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