PLAAK KYC (Know Your Customer)
PLAAK Australia Pty Ltd (PLAAK, PLAAK Pte Ltd [Singapore]) is committed to complying with relevant global Anti-Money Laundering (“AML”) and Terrorist Financing rules, regulations and guidelines. As part of its AML obligation, PLAAK will conduct a Know Your Customer (KYC) process with all subscribers/applicants to meet the requirements. In Australia, we will meet the obligations of the Australian Transaction Reports and Analysis Centre (AUSTRAC) Regulations and Acts.
This policy applies to all customers who use the PLAAK Digital Exchange to trade, store, buy or sell cryptocurrencies and/or fiat currencies. KYC procedures also enable us to know/understand our customers and their financial dealings better which in turn help them manage their risks prudently.
All PLAAK Digital Exchange customers will be required to provide the following information as a minimum to create an account including depositing and withdrawing funds.
Individual – required to provide the following documents
- Full Name
- Date of Birth
- Residential Address
- Copy of a Utilities Bill with proof of residential address/ Notice of Assessment from the Australian Taxation Office
- Copy of valid Government issued photographic identification – Drivers Licence or Passport
Corporate, Company or Business - required to provide the following documents
- Certificate of Incorporation
- Government issued registration number
- Copy of Utilities Bill with mailing address
- Copy of Directors details including photo identifications
- Copy of beneficial owners who own 25% or more of the company or business
CUSTOMER ACCEPTANCE POLICY
- No account is opened in anonymous or fictitious name(s)
- No account is opened on behalf of another person
- The PLAAK Exchange account will only be approved under the name submitted in the KYC process
- The Bank Account must be in the same name as the PLAAK Exchange account
- PLAAK has the right to refuse a person’s application if they deem the applicant a risk as per AML and CTF AUSTRAC guidelines.
- Monitoring of transactions