AML / KYC Policy
Know Your Client and Anti-Money-Laundering procedures are how Nuvaultance protects your account, meets Canadian legal requirements, and keeps the platform out of financial crime. This page explains what is collected, why, and what happens next.
1. Introduction
KYC (Know Your Client) verifies who you are. AML/ATF (Anti-Money-Laundering and Anti-Terrorist Financing) keeps criminal money out of the platform. Together they define the checks applied at onboarding, during the relationship, and on transactions, consistent with Canadian requirements applicable to the services provided.
2. What is KYC
KYC is the identification and verification of a client: collecting your name, address, and date of birth, then confirming them against reliable documents. Verification makes sure the account belongs to a real, identifiable person and creates the baseline used later for security checks and withdrawals.
3. What is AML / ATF
The AML/ATF program assesses the money-laundering and terrorist-financing risk of each client and relationship, monitors activity for signs consistent with criminal use, keeps records, and reports to the relevant Canadian authorities where the law requires it. The program is reviewed as requirements change.
4. Why identity verification is required
Verification prevents fraud, protects accounts from takeover, blocks the use of stolen identities, and meets applicable Canadian legal requirements. It is also practical: verified identity is what makes account recovery, withdrawals to your own accounts, and dispute resolution possible.
5. Necessary documents
Identity is confirmed with a government-issued photo document, such as a passport or driver's licence, and address with a recent document such as a utility bill or bank statement. Where a session requires it, a short selfie or liveness check confirms the document holder is present. Only documents actually used by the process are requested, nothing more.
6. Verification process, step by step
Registration collects your basic details. You then provide the documents above. Automated checks run first, comparing the documents with data sources and screening lists. Where automation is inconclusive, a compliance specialist reviews manually. You receive the result in the account, and a refusal always comes with the reason.
7. Enhanced due diligence
Higher-risk situations, such as clients in higher-risk locations, large deposits relative to profile, or complex source-of-funds structures, trigger enhanced due diligence: additional documents, questions about the origin of funds, and senior compliance sign-off before activity proceeds. EDD is a precaution, not an accusation.
8. Verification timelines
Standard checks usually complete within one business day of receiving clear documents. Enhanced cases take longer because they include manual review, and the timeline depends on how quickly requested information arrives. The account shows the current status, and support can tell you what is outstanding.
9. Reasons for refusal
Verification can be declined or suspended for documents that are expired, unreadable, or altered; mismatches between the document and the account details; suspicion of a forged document or a stolen identity; screening matches; or failure to provide requested information. A refusal explains the reason and the appeal route where one exists.
10. Transaction monitoring
Transactions are monitored against the client profile. Activity that appears inconsistent with the profile, unusual patterns, or movements linked to higher-risk sources can lead to questions, additional documentation, or temporary limits on specific functions while the review completes. Monitoring records feed any required reporting. Reviews are proportional: ordinary activity is never slowed, and questions asked are specific to what was observed.
11. User responsibility
You are responsible for providing accurate, current, and genuine information and documents, and for updating details that change. Providing false information can lead to suspension, termination of the relationship, forfeiture of pending transactions to the extent the law allows, and reporting to the authorities where required.
12. Retention and protection of data
KYC and AML records are kept for the period Canadian law requires, typically measured in years after the relationship ends. They are stored encrypted, access is restricted to the compliance function, and the handling rules are set out in the Privacy Policy.
13. Data transfer
Verification data is processed by KYC providers and IT service operators under contractual confidentiality and security obligations, shared with affiliates involved in providing the service, and disclosed to regulators and public authorities where the law requires. Transfers are limited to what each purpose needs.
14. Compliance with requirements
The program is aligned with the Canadian legal framework applicable to the services provided, including federal AML/ATF requirements administered by FINTRAC and provincial securities requirements where relevant. Where execution or custody is placed with partners, their regulatory status is confirmed as part of onboarding those partners.
15. Contact and support
Questions about this policy, a verification case, or a monitoring review are answered by Client Support and Compliance at [email protected]. Written questions receive written answers, which keeps the record straight for both sides. Verification questions are never a bother; a five-minute answer before submitting documents reliably saves a day of correction after.
What verification means in practice
The policy above is the framework; the notes below are what it feels like as a client.
Most verifications complete on the first submission, and the failures are predictable: a photo taken with glare across the document page, an address document older than three months, or a name on the account that differs from the document (a middle name omitted at registration, a hyphenated surname simplified). Checking those three before submitting saves days of back-and-forth.
A completed verification is not a one-time event. Documents expire, addresses change, and the risk picture can change with activity. The account shows the current verification status, and renewal requests arrive before expiry rather than after, so a lapse never interrupts a withdrawal you were counting on.
Verification data works for you, not only for compliance. It is what lets a payout to your own bank account be processed without friction, what proves identity if you lose your phone, and what protects you from someone else opening an account in your name elsewhere. The inconvenience is front-loaded and small; the protection is continuous.
One boundary is worth stating plainly: no person at Nuvaultance, in any department, will ever ask for your password, your 2FA codes, or remote access to your device as part of verification or any other process. A request like that is the signature of impersonation, and the fraud warning page explains what to do the moment it happens.