1. Purpose
HL Hunt’s KYC policy is designed to ensure compliance with regulatory requirements, prevent fraud, and mitigate financial risks. The policy outlines the procedures for verifying the identity of clients, business owners, and guarantors engaging in financial transactions with HL Hunt.
2. KYC Requirements
All clients must undergo identity verification before opening an account or conducting significant transactions. The following information is required:
A. Individual Customers
- Full Name
- Date of Birth
- Government-issued ID (Passport, Driver’s License, or National ID)
- Proof of Address (Utility Bill, Bank Statement, or Lease Agreement)
- Tax Identification Number (if applicable)
B. Business Entities
- Legal Business Name
- Business Registration Certificate
- Employer Identification Number (EIN)
- Proof of Business Address
- List of Beneficial Owners (for businesses with multiple owners)
- Articles of Incorporation or Partnership Agreement
C. Guarantors
- Personal Identification Documents
- Financial Statements (if applicable)
3. Verification Procedures
HL Hunt employs a combination of manual and automated verification methods:
- Document Verification: Submitted documents are checked for authenticity.
- Database Checks: Cross-referencing with government and financial institution databases.
- Risk Assessment: Customers are categorized based on risk levels for enhanced due diligence.
4. Ongoing Monitoring
- Periodic reviews of high-risk customers.
- Screening transactions for suspicious activity.
- Updating customer information regularly.
5. Compliance & Reporting
- Suspicious transactions are reported to relevant regulatory authorities.
- Customers must update their information if there are significant changes.
6. Privacy & Data Protection
HL Hunt ensures all KYC data is securely stored and only accessible to authorized personnel.