KYC Policy

Last updated: June 2024

The Company adheres to and complies with “Know your customer” principles, which aim to prevent financial crime and money laundering through client identification and due diligence.

The Company reserves the right, at any time, to ask for any KYC documentation it deems necessary to determine the identity and location of a user on etherempire.com (“Website”). We reserve the right to restrict the service, payment, or withdrawal until identity is sufficiently determined or for any other reason in our sole discretion based on the legal framework.

We take a risk-based approach and perform strict due diligence checks and ongoing monitoring of all clients, customers, and transactions. As per the money laundering regulations, we utilize three stages of due diligence checks, depending on the risk, transaction, and customer type.

SDD — simplified due diligence is used in instances of extremely low-risk transactions that do not meet the required thresholds

CDD — customer due diligence is the standard for due diligence checks, used in most cases for verification and identification

EDD — Enhanced due diligence is used for high-risk customers, large transactions, and special cases.

Separately and in addition to the above, when a user makes an aggregate lifetime total of deposits exceeding EUR 10,000 or requests a withdrawal of any amount on the Website, or attempts to or completes a transaction that is deemed suspicious, then it is compulsory for them to complete the full KYC process.

During this process, the user will have to input some basic details about themselves and then upload the following:

  • copy of Government Issued Photo ID (in some cases front and back, depending on the ID)
  • photo of themselves holding the ID
  • bank statement/utility bill

Guideline for the “KYC Process”

  • Proof of ID
    • Signed document;
    • The issuing country  is not one of the following restricted countries:
      • United States of America and its territories
      • Austria
      • France and its territories
      • The Netherlands and its territories and countries that form the Kingdom of Netherlands, including Bonaire, Sint Eustatius, Saba, Aruba, Curaçao and Sint Maarten
      • Australia and its territories
      • United Kingdom of Great Britain and Northern Ireland
      • Spain
      • Cyprus
      • Afghanistan
      • American Samoa
      • Barbados
      • Botswana
      • Burundi
      • Cambodia
      • Central African Republic
      • Cuba
      • Democratic People’s Republic of Korea (DPRK) or North Korea
      • Democratic Republic of Congo
      • Fiji
      • Guam
      • Iran
      • Iraq
      • Lebanon
      • Libya
      • Mali
      • Myanmar (Burma)
      • Nicaragua
      • Pakistan
      • Palau
      • Palestine
      • Samoa
      • Somalia
      • South Sudan
      • Sudan
      • Syria
      • The Crimea Region (Russia/Ukraine)
      • Trinidad and Tobago
      • Uganda
      • Union of Comoros
      • Venezuela
      • Yemen
      • Zimbabwe
      • any other jurisdictions deemed prohibited by Anjouan Offshore Financial Authority.
    • Full name matches client’s name;
    • The document is valid for a minimum of 3 months;
    • The owner is over 18 years of age.
  • Proof of Residence
    • Bank statement or utility bill;
    • The country of residence is not one of the following restricted countries:
      • Austria
      • France and its territories
      • Germany
      • Netherlands and its territories
      • Spain
      • Union of Comoros
      • United Kingdom
      • USA and its territories
      • All FATF Blacklisted countries,
      • any other jurisdictions deemed prohibited by Anjouan Offshore Financial Authority.
    • Full Name matches client’s name and is identical to client’s ID;
    • Issued less than 3 months ago
  • Selfie with ID
    • Holder is identical to the ID above;
    • ID is identical to “1. Proof of ID”. Make sure photo/ID number is the same

Notes on the “KYC Process”

If the KYC process is unsuccessful, the reason is documented, and a support ticket is created in the system. The ticket number along with an explanation is communicated back to the user. Once all proper documents are in our possession, the account gets approved.

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