|State of Utah||Rev. 134ED56|
|KYC & AML POLICY
IX GLOBAL / IX VENTURES FZCO
Version Date: December 15, 2020
Since the inception of our company, iX Global’s / iX Ventures FZCO reputation for integrity and the highest standards of business ethics is one of our greatest assets. We recognize the utmost importance of ensuring that our business activities are managed to the highest standards.
That includes making sure that when we onboard new customers, or recertify existing relationships, we have a full understanding of their identity and aspirations, and confirm that we are a suitable partner to fulfill their needs. By doing so, we aim to ensure that our procedures are thorough and transparent, and that they enable our business to sustain lasting and valuable relationships.
Our Corporate KYC Policy creates the framework for customer identity verification and document validation processes to ensure quick and efficient processing of KYC and AML requirements for the iX Community worldwide.
The KYC practices allow us to vigilantly address customer legitimacy concerns. Identity verification ensures that customers are who they claim to be, business entity is legitimate, all data provided by them is complete and accurate, and the customer is not a part of any sanctions list or a member of a banned or suspect organization.
Due to national and international regulations for the prevention of criminal activities, money laundering and terrorism financing, iX Global or iX Ventures FZCO strictly implements Know Your Customer (KYC) and Anti-Money Laundering (AML) regulatory guidelines and procedures.
While we respect and honor the confidentiality of our customers, we are committed to undertaking thorough due diligence of both our customers’ identities and the nature of their businesses.
iX Global’s or iX Ventures FZCO KYC Policy is based on principles of partnership: if we know and understand our customers, they know and understand us. It is our obligation not just to undertake a full and proper due diligence of our customers and their needs, but also to monitor and ensure that their business activities do not breech any national and international regulations with regards to anti-money laundering and terrorism financing.
Moreover, all iX Global’s or iX Ventures FZCO affiliate companies and counterparts are also expected to develop their own KYC and AML programs that are based on this Policy and encompass Know Your Customer, Know Your Transactions and Anti-Money Laundering rules considered by iX Global or iX Ventures FZCO as minimum standards and requirements including local regulatory requirements.
KYC AS A BUSINESS FUNCTION
Know Your Customer (KYC) as a business function has become increasingly important worldwide to prevent money laundering, terrorism financing, identity theft and financial fraud. The term “Customer” in the Policy refers to all subscribers within the iX Community This includes Brand Ambassadors, Retails Customers, or Affiliates.
During the KYC process iX Global or iX Ventures FZCO will verify Customer Identity, monitor for any suspicious or unusual activity and keep record of all transactions and documents, detailed below.
For each new customer, who is an individual, we will collect:
- The customer’s name
- Date of birth
- Residential or business address
- Proof of address such as utility bill, etc
- Unexpired government identification card number showing nationality or residence, and photo id.
For each new customer which is an entity, we will collect:
- The customer’s business name
- Principal place of business
- Proof of business address such as utility bill, etc.
- Government issued identification or tax number
- Other government issued documentation certifying the existence of the business or enterprise such as certified articles of incorporation, a government issued business license, a partnership agreement or a trust instrument
iX will not payout an account without the required identification information. If the entity is a trust or similar, personal identification information as outlined in the previous paragraph will be needed for the account controller.
In the event a customer does not present a valid government ID; or the firm is not familiar with the documents the customer provides; or the customer opens the account without appearing in person; and any other circumstances that increase the risk that we will not be able to verify the true identity of the customer through documents the customers account will be immediately terminated and it will proceed in accordance with the applicable law and report suspicious activity to regulating authority.
In addition to gathering information from the clients, iX Global or iX Ventures FZCO monitors the activity of every customer to identify and prevent any suspicious transactions. A suspicious transaction is known as a transaction that is inconsistent with the client’s legitimate business or the usual client’s transaction history known from client activity monitoring. iX Global has implemented the system of monitoring the named transactions (both automatic and, if needed, manual) to prevent using the company’s services by criminals.
Records must be kept of all transaction data and data obtained for the purpose of identification, as well as of all documents related to money laundering topics (e.g. files on suspicious activity reports, documentation of KYC account monitoring, etc.). Those records are kept for a minimum of 5 years after the account is closed.
In cases of any suspicious activity related to money laundering or other criminal activity, iX Global or iX Ventures FZCO will proceed in accordance with the applicable law and report suspicious activity to regulating authority.
iX Global or iX Ventures FZCO reserves the right to suspend any customer account, which can be regarded as illegal or may be related to money laundering in the opinion of the staff. iX Global or iX Ventures FZCO has complete discretion to temporarily block the suspicious customer account or terminate an existing client relationship.
In order to resolve any concern regarding the Company Policies or to receive further information regarding use of the Company Services, please contact Company as set forth below
iX Global LLC or
173 Bountiful Blvd
Bountiful, UT 84010
iX Ventures FZCO
Office no 101, Dubai Digital Park
Dubai Silicon Oasis, Dubai, United Arab Emirates
Phone: +9714 4276 9573