KYC Policy
Minimal customer verification for regulatory compliance and fraud prevention.
🔍 What is KYC?
Know Your Customer (KYC) is a regulatory requirement that helps us verify the identity of our customers to prevent fraud, money laundering, and other illegal activities.
At ConsultWave, we've designed our KYC process to be minimal and business-friendly while meeting all regulatory requirements.
✅ Information We Collect
📋 Required for All Customers
- Business Name: Legal name of your business entity
- Contact Email: Verified business email address
- Phone Number: Verified business contact number
- Business Address: Physical business location
- Business Type: Industry classification (e.g., "Digital Marketing Agency")
- Website URL: Your business website for verification
🚫 Information We DON'T Collect
- Social Security Numbers (SSN)
- Driver's License copies
- Passport information
- Bank account details
- Tax identification numbers
- Financial statements
- Personal identification documents
- Credit card information (handled by Stripe)
🔄 Our Verification Process
Account Signup
Provide basic business information during account creation
Time: 2-3 minutes
Email Verification
Click confirmation link sent to your business email
Time: Immediate
Business Validation
We verify your website and cross-reference business information
Time: Automated (instant)
Account Activation
Services activated upon successful verification
Time: Immediate
⚖️ Why KYC is Required
🏛️ Regulatory Compliance
Required by financial regulations and payment processors (Stripe) to prevent money laundering and fraud.
🛡️ Fraud Prevention
Protects both our business and legitimate customers from fraudulent account creation and misuse.
🔒 Security
Ensures only legitimate businesses can access our digital marketing services and payment systems.
📊 Risk Management
Helps us assess and manage business risk while maintaining service quality for all customers.
🔒 Data Protection & Privacy
🛡️ How We Protect Your Data
- Encryption: All data encrypted in transit and at rest
- Access Control: Limited to authorized personnel only
- Secure Storage: SOC 2 compliant data centers
- Regular Audits: Quarterly security reviews
- Data Minimization: We collect only what's necessary
📋 Your Rights
- Access: Request copies of your data
- Correction: Update inaccurate information
- Deletion: Request data deletion after service termination
- Portability: Export your data in standard formats
- Restriction: Limit how we process your data
📅 Data Retention Policy
Retention Period: Customer information retained for 7 years per regulatory requirements
Purpose: Compliance with anti-money laundering (AML) regulations and audit requirements
Deletion: Data automatically deleted after retention period unless legally required to maintain
📋 Compliance Standards
🏛️ AML Compliance
Anti-Money Laundering regulations require customer verification to prevent illegal financial activities.
💳 Payment Processing
Stripe and other payment processors require KYC compliance for merchant accounts.
🌍 International Standards
Follows global KYC standards including FATF recommendations and local regulations.
❓ Frequently Asked Questions
Why do you need my business information?
We need basic business information to comply with financial regulations and prevent fraud. This is required by our payment processor (Stripe) and helps protect both our business and legitimate customers.
Is my information secure?
Yes, all information is encrypted and stored securely. We follow SOC 2 compliance standards and never share your data except as required by law or with payment processors.
What happens if I don't provide this information?
We cannot activate your account or provide services without completing KYC verification. This is a regulatory requirement, not optional.
Can I delete my information later?
You can request data deletion after service termination, but we must retain some information for 7 years per regulatory requirements.
Do you share my information with third parties?
We only share information with payment processors (Stripe) as required for processing payments, or when legally required by authorities.
📞 Questions About KYC?
If you have questions about our KYC process or need assistance with verification: