Anti-Money Laundering (AML) and Know Your Customer (KYC) Policy

Last Updated: 25 Jul 2025

By implementing this Know Your Customer (KYC) Policy, Spaceedge.io aims to create a safer and more secure environment for our customers and to comply with our legal and regulatory obligations.

The terms mentioned herein, if not explicitly stated otherwise, have the same meaning as defined in the Terms and Conditions.

1. Purpose

This KYC Policy establishes the principles and procedures that Spaceedge.io will follow to verify the identity of its customers. The objectives of this policy are to:

Prevent and mitigate the risk of fraud, identity theft, money laundering, and other financial crimes.
Comply with applicable anti-money laundering (AML) laws and regulations in relevant jurisdictions.
Enhance the security and integrity of our platform and transactions.
Establish trust and confidence in our services.

2. Scope

This policy applies to all customers who register an account or make transactions on the Spaceedge.io website. It outlines the procedures for collecting, verifying, and monitoring customer identity information.

3. Customer Identification Procedures

Spaceedge.io will implement the following Customer Identification Procedures (CIP) at different stages of the customer relationship:

3.1 Account Registration

During the account registration process, customers will be required to provide certain personal information, which may include:

Full Name
Date of Birth
Email Address
Phone Number
Billing Address
Government-issued photo identification details

3.2 Transaction Thresholds

For transactions exceeding 250 EUR (or equivalent in other currencies), additional verification may be required, including proof of address and identity documentation.
For transactions exceeding 2000 EUR (or equivalent), Enhanced Due Diligence (EDD) will be mandatorily triggered.

3.3 Suspicious Activity

If any suspicious activity is detected, Spaceedge.io reserves the right to request further identification documents and information from the customer.

4. Customer Due Diligence (CDD)

Depending on the assessed risk of the customer and the transaction, Spaceedge.io may perform different levels of Customer Due Diligence (CDD):

4.1 Standard Due Diligence

Verifying the information provided during registration against internal records and publicly available information.

4.2 Enhanced Due Diligence (EDD)

For high-risk customers based on location, transaction patterns, or other indicators:

Requesting additional ID documents (e.g., passport, utility bill).
Verifying the source of funds or wealth.
Conducting background checks.
Ongoing monitoring of flagged activity.

5. Verification of Identity

We may use the following methods to verify identity:

Document Verification: Valid ID, passport, driver’s license, utility bill (for address).
Data Verification: Cross-checking with third-party databases and services.
Transaction Monitoring: Tracking patterns to detect identity theft or fraud.
Other Sources: Any other methods deemed reliable and legal.

6. Ongoing Monitoring

To detect changes in customer risk profiles or suspicious behavior, we implement ongoing monitoring:

Monitoring transaction patterns and volumes.
Tracking IP address and login behaviors.
Reviewing complaints or unusual activity.
Periodic re-verification for high-risk users.

7. Record Keeping

All customer identification, verification records, and transaction logs will be securely stored for at least 5 years after the business relationship ends, or longer as required by law.

8. Data Privacy and Security

Personal information collected for KYC is processed per our Privacy Policy and GDPR or equivalent data laws. Secure methods are used to protect your data from unauthorized access.

9. Training and Awareness

All employees involved in onboarding, compliance, and operations are trained on this KYC policy and AML regulations. Ongoing training ensures continued awareness and legal compliance.

10. Policy Review and Updates

This policy is reviewed annually and updated as necessary to remain compliant with current AML laws and regulations.

11. Customer Cooperation

We appreciate your cooperation in submitting identification documents as required. This process helps us maintain a safe and trusted platform. For questions, please contact us at [email protected].