KYC and AML policy

1. Introduction

This policy describes how Forge Capmoor verifies who its clients are (Know Your Customer, or KYC), how it prevents its services being used to launder money (anti-money laundering, or AML) and how it helps to counter the financing of terrorism (CFT). These checks protect you, other clients and the wider financial system.

We follow the approach set by the UK Money Laundering Regulations 2017, the Proceeds of Crime Act 2002 and the Terrorism Act 2000, and the guidance of the Financial Conduct Authority.

2. What is KYC?

KYC means identifying you as a client and confirming that the details you gave us are true. In practice that is your full name, date of birth and address, backed by documents that we check for authenticity. We complete KYC before we allow you to deposit above set thresholds or withdraw funds.

3. What is AML?

AML covers the policies and controls we use to detect and prevent money laundering. It includes assessing the risk each client presents, monitoring activity for anything unusual, keeping records, training staff and reporting suspicious activity to the National Crime Agency when the law requires it. Where we make such a report, we may be legally prohibited from telling you.

4. Why we verify your identity

• To prevent fraud and identity theft, including someone opening an account in your name.
• To protect your account and make sure withdrawals reach the right person.
• To meet the legal requirements that apply to UK cryptoasset businesses.
• To reduce financial-crime risk for you and for other clients.

5. Documents we may ask for

We only ask for documents we actually use. Depending on your case, these are:

• Proof of identity: a valid UK or foreign passport, or a UK photocard driving licence.
• Proof of address: a bank statement, council tax bill or utility bill dated within the last three months, showing your name and current address.
• Selfie or liveness check: a short live image or video to confirm that you are the person in the document.
• Payment method evidence: a card or bank statement, with the middle digits hidden, if we need to match a deposit to you.

Photos must be clear, in colour, uncropped and readable in full. We do not accept expired documents or screenshots of documents.

6. The verification process

1. Register. Create your account and confirm your email address and phone number.
2. Provide details and documents. Complete your profile and upload the documents above through the secure form.
3. Automated check. Our verification provider checks document authenticity, compares your selfie with the document photo and screens against sanctions and politically exposed persons lists.
4. Manual review. If the automatic check is not conclusive, a trained member of staff reviews the case and may ask for another document.
5. Confirmation. We email you the outcome. Once verified, your account limits are lifted.

7. Enhanced due diligence

Some clients present a higher risk, for example politically exposed persons, people connected to higher-risk countries or clients with unusually large or complex activity. For those we apply enhanced due diligence (EDD). We may ask about the source of your funds and your wealth, request supporting evidence such as payslips, sale contracts or tax records, and carry out more frequent reviews. Being asked for EDD does not imply wrongdoing.

8. How long verification takes

Most automated checks finish within minutes. Where manual review is needed it usually takes one to three working days. The time depends on the quality of the documents, whether the details match, the volume of applications and whether we need to ask for more information. We will tell you what is outstanding as soon as we know.

9. Reasons a check may fail or be paused

• Documents that are expired, unreadable, cropped, edited or unsupported.
• Details that do not match across documents, or between documents and what you entered.
• Suspicion that a document is forged or altered.
• A sanctions or screening match that cannot be cleared.
• Failure to provide information we have asked for within a reasonable time.

If verification is paused, we tell you why where we are allowed to, and explain how to fix it.

10. Transaction monitoring

We monitor deposits, withdrawals and trading activity for patterns that are unusual for you or that match known money-laundering techniques, such as rapid deposits and withdrawals with little trading or the use of several unrelated payment sources. Where we identify a concern, we may ask questions, restrict certain features or hold a withdrawal while we investigate.

11. Your responsibilities

You must provide accurate, current and genuine information and documents, tell us promptly of any change of name or address, and use the account only for yourself. Giving false information may lead to your account being closed, funds being frozen where the law requires, and a report to the authorities.

12. Data storage and protection

KYC and AML records are stored encrypted, with access limited to staff who need it. Under the Money Laundering Regulations we must keep identity records for five years after the relationship ends. How we handle personal data is described more fully in our Privacy Policy.

13. Sharing data

We may share KYC and AML information with identity verification providers, IT and hosting suppliers under contract, affiliated companies in our group, and with regulators, law enforcement and other public authorities when the law requires or allows.

14. Regulatory compliance

Our approach reflects the UK laws that apply to a cryptoasset business, listed on our licensing and regulation page. Where a requirement changes, we update this policy and our procedures.

Sanctions and politically exposed persons

We screen every client against UK, UN, EU and US sanctions lists and against lists of politically exposed persons (PEPs), meaning people who hold or have held prominent public roles, and their family members and close associates. A screening match is not a finding of wrongdoing. It means we must look more closely before we can continue, and it may lead to enhanced due diligence.

Keeping information up to date

Verification is not a one-off event. We review client information periodically, more often for higher-risk clients, and we may ask you to refresh an expired document or confirm that your address and occupation have not changed. Tell us promptly if your circumstances change.

If you disagree with a decision

If your verification is declined or your account is restricted, you can ask for the decision to be reviewed by writing to us. We will look again at the information you gave and explain the outcome, subject to what the law lets us disclose. Our complaints procedure also applies.

15. Contact and support

Questions about KYC, AML or a verification decision can be sent to [email protected]. Please include your account email address, but never send full card numbers or passwords.