KYC & Compliance Policy
INTRODUCTION
This KYC & Compliance Policy outlines the requirements and procedures for verifying the identity of users of the BRIKx platform. It ensures compliance with the Prevention of Money Laundering Act (PMLA), Reserve Bank of India (RBI) guidelines, the DPDP Act 2023, and global best practices. All token purchasers, resellers, and beneficiaries must undergo mandatory KYC (Know Your Customer) and AML (Anti-Money Laundering) checks.
- Purpose
- Ensure the legitimacy of all transactions on the BRIKx platform.
- Prevent fraud, money laundering, terrorism financing, and misuse of the platform.
- Protect token holders and maintain transparency with regulators and stakeholders.
- Scope This policy applies to:
- All token buyers, sellers, and holders.
- All users accessing booking, staking, and resale features.
- All legal entities (companies, partnerships, trusts) participating in token purchases.
- Information Required For Individuals:
- Full Name
- Date of Birth
- Government-issued ID (PAN mandatory; Aadhaar/Passport/Voter ID acceptable)
- Address Proof (utility bill, bank statement, Aadhaar with address)
- Photograph / Selfie for identity match
- Email and mobile number verification
- Certificate of Incorporation
- Memorandum & Articles of Association / Partnership Deed / Trust Deed
- PAN of the entity
- List of directors/partners/trustees with KYC of key persons
- Registered office address proof
- Ultimate Beneficial Owner (UBO) declaration
- Verification Process
- All documents must be uploaded via the BRIKx platform or provided to authorized KYC partners.
- Automated checks will validate ID numbers, photos, and address details.
- In some cases, manual review may be required.
- Transactions remain pending until KYC is completed and approved.
- Ongoing Compliance
- Users must update KYC details if there are changes (e.g., new address).
- BRIKx reserves the right to re-verify users periodically.
- Suspicious transactions will be reported to relevant authorities as required under PMLA.
- Data Privacy & Security
- All KYC data is encrypted and stored securely.
- Access is restricted to authorized compliance officers only.
- Data is retained for at least 5 years after account closure, per RBI and AML guidelines.
- Users may request a copy of their data but cannot demand deletion if retention is legally mandated.
- Non-Compliance
- Failure to provide KYC documents will result in denial of token purchase or resale.
- False or forged documents will lead to account termination and possible legal action.
- Tokens associated with fraudulent activity may be frozen or cancelled.
- Regulatory Alignment
- Fully compliant with Indian AML/KYC laws, RBI guidelines, DPDP Act 2023.
- Aligned with international standards (FATF recommendations, GDPR).