KYC & AML Policy

    Customer verification and anti-money laundering compliance procedures.

    Last Updated: January 2025

    Policy Overview

    SwyftForm complies with federal KYC and AML regulations including the Bank Secrecy Act, USA PATRIOT Act, and FinCEN requirements. We verify customer identities, screen for sanctions, and monitor for suspicious activities to prevent financial crimes.

    Customer Verification Requirements

    Individual Customers

    • •Government-issued photo ID (passport, driver's license, national ID)
    • •Proof of address (utility bill, bank statement, government document)
    • •Full legal name, date of birth, and nationality
    • •Source of funds documentation

    Business Customers

    • •Certificate of incorporation/registration
    • •Business license or registration documents
    • •Tax identification number (EIN/VAT)
    • •Beneficial ownership information (25%+ owners)
    • •Director and shareholder details
    • •Proof of business address

    Risk Categories

    Low Risk

    Low Risk: Established businesses from low-risk countries with clear beneficial ownership

    Medium Risk

    Medium Risk: New businesses, complex structures, or customers from medium-risk jurisdictions

    High Risk

    High Risk: PEPs, customers from high-risk countries, cash-intensive businesses, or adverse media

    Prohibited Customers & Activities

    • ✗Customers on OFAC sanctions lists
    • ✗Politically Exposed Persons (PEPs) from high-risk countries
    • ✗Shell companies without legitimate business purpose
    • ✗Money service businesses and cryptocurrency exchanges
    • ✗Customers from FATF blacklisted countries
    • ✗Businesses involved in illegal activities

    Ongoing Monitoring

    We continuously monitor customer activities and file Suspicious Activity Reports (SARs) when required. Customers must notify us of changes in ownership, business activities, or beneficial ownership within 30 days.

    Record Keeping

    All customer information, verification documents, and transaction records are retained for 5 years minimum. Records are stored securely with access limited to authorized compliance personnel.

    Non-Compliance Consequences

    Failure to provide required documentation or cooperation with verification procedures will result in service suspension or termination without refund. We may file SARs and report to authorities as required by law.

    Compliance Contact

    Email: info@swyftform.com | Phone: 1-646-814-6372