AML and KYC explained

1. Purpose of this policy

This page explains the identity, screening and monitoring steps associated with AvenQuant onboarding. It should be read with the privacy policy and applicable account terms.

2. Who must be verified

The individual opening and controlling an account must be verified. Business, trust or representative arrangements may require evidence about directors, trustees, beneficial owners and authority to act.

3. Information collected

We may collect a full legal name, date of birth, residential address, citizenship or residency information, occupation, contact details and tax-related information. The exact fields depend on the service and provider.

4. Identity documents

Common evidence includes a current passport or driver licence and, where needed, a recent address document. Images must be legible, complete and unaltered.

5. Electronic verification

Information may be compared with reliable databases or document-verification services. A mismatch can require manual review rather than automatic rejection.

6. Source of funds

For some deposits or account patterns, we may ask how the money was obtained and request a bank statement, payslip, sale document or other relevant evidence. This is different from judging whether an investment is suitable.

7. Source of wealth

Higher-risk or unusual circumstances can require broader information about how overall wealth was accumulated. The request should be proportionate and explained through a secure channel.

8. Screening

Names and related information may be screened against sanctions, politically exposed person and adverse-information sources. A possible match is reviewed before a decision is made because names can be shared by unrelated people.

9. Ongoing monitoring

Checks do not end after registration. Transaction patterns, account changes and payment routes may be monitored for inconsistency with known information or signs of misuse.

10. Enhanced due diligence

Additional evidence may be requested when geography, ownership, payment behaviour or another factor creates higher financial crime risk. Enhanced review can affect activation or processing time.

11. Keeping details current

Customers must keep their name, address, contact and payment information accurate. A material change may require new documents before some account actions continue.

12. Refusal, restriction and closure

An account may be refused, limited or closed when required evidence is not provided, cannot be verified or creates an unacceptable legal risk. Funds remain subject to lawful return and review requirements.

13. Record retention

Verification and transaction records are kept for periods required by law and legitimate operational needs. Access is controlled and information is not retained indefinitely without a basis.

14. Privacy and disclosure

Information may be shared with verification providers, financial institutions, regulators or law-enforcement bodies where authorised or required. We do not disclose a suspicious matter report when law prohibits that disclosure.

15. Questions and contact

Contact [email protected] if a request is unclear or you need an accessible way to provide evidence. Do not send identity documents until support confirms the secure submission method.

Verification cannot guarantee that every account is free from misuse, but consistent controls make impersonation and illicit payment activity harder.