KYC / AML Policies

Policy Objective

Weavebit is committed to maintaining compliance standards designed to prevent money laundering, terrorist financing, fraud, and other unlawful use of its services. We may collect, verify, and retain information necessary to identify customers, evaluate risk, and meet legal or regulatory obligations.

General Principles

• Weavebit may require customer identification before or during service use.
• Weavebit may monitor account activity for suspicious patterns or unusual transactions.
• Weavebit may suspend, restrict, or terminate services where unlawful or suspicious activity is suspected.
• Weavebit may report suspicious activity to the appropriate authorities where required by law.

Know Your Customer (KYC)

Before entering into or continuing a business relationship, Weavebit may request information sufficient to verify the identity of an individual customer, a corporate customer, or the beneficial owner behind an account.

Individual Customers

Information or documents requested may include:

• Full legal name, date of birth, nationality, and residential address.
• A valid passport, driver’s license, or national identity card.
• Proof of address such as a utility bill or bank statement issued within the previous 3 months.

Corporate Customers

Information or documents requested may include:

• Certificate of incorporation or equivalent registration documents.
• Constitutional or corporate governance documents.
• Proof of registered address or good standing.
• Board resolution or authorization for account opening and operation.
• Identity documents for directors, authorized signatories, and beneficial owners.

Monitoring and Review

Weavebit may review account activity, payment activity, and service usage to identify transactions or behavior inconsistent with the expected profile of a customer. Reviews may be automated, manual, or both.

Record Retention

Weavebit may retain identification, account, transactional, and compliance-related records for an appropriate period, including for at least 7 years after account closure where required or reasonably necessary.

Actions We May Take

Where Weavebit suspects money laundering, fraud, sanctions evasion, identity abuse, or other illegal conduct, we may request further documentation, delay processing, block access, suspend an account, terminate services, or make disclosures to competent authorities as required by law.