KYC Policy

KYC POLICY

INTRODUCTION

The website www.velvetcas.com adheres to and implements the principles of "Know Your Customer" (KYC), aimed at preventing financial crimes and money laundering through customer identification and verification.

The website may at any time request any KYC documents necessary to confirm the user's identity, age, source of funds, and location.

We reserve the right to restrict or suspend the provision of services until the identity is confirmed or in accordance with KYC/AML legislation and structure.

We use a risk-based approach and conduct ongoing monitoring of customers and transactions, applying three levels of diligence.

VERIFICATION TYPES

SDD — Simplified due diligence for transactions with very low risk.

CDD — Standard verification used in most cases.

EDD — Enhanced due diligence for high-risk customers or large transactions.

For cumulative deposits exceeding 5000 euros, withdrawal requests, or suspicious transactions, the user is required to complete full KYC.

REQUIRED DOCUMENTS

• Identification document (sometimes both sides of the document).
• Selfie with the document.
• Bank statement or utility bill.

KYC PROCESS GUIDELINES

IDENTITY CONFIRMATION

• Presence of a signature.
• The country is not on the prohibited list:
  • Austria
  • France and territories
  • Germany
  • Netherlands and territories
  • Spain
  • Union of the Comoros
  • United Kingdom
  • United States and territories
  • FATF blacklisted countries
  • Other prohibited OFA Anjouan
• Name must match completely.
• The document must be valid for at least 3 months.
• Owner's age — 18+.

PROOF OF RESIDENCE

• Bank statement or utility bill.
• The country is not on the prohibited list.
• Name must match and be identical to the identification document.
• Date of the document — not older than 3 months.

SELFIE WITH IDENTIFICATION DOCUMENT

• Face must match the document owner.
• The document must be identical to the one uploaded previously.

NOTES

• If the verification fails, the reason is recorded, a ticket is created, and the user is notified.
• After receiving all documents, the account is confirmed.