At GRUPO VERTEX, the KYC process is a fundamental pillar in ensuring security, transparency, and regulatory compliance in all our operations. This process is designed to ensure that we properly know and verify the identity, financial situation, and risk profile of each of our clients in order to prevent illicit activities such as money laundering and terrorist financing.
The KYC process at GRUPO VERTEX not only complies with local and international regulations but also protects both our clients and our platform from potential financial and legal risks. This procedure involves the collection, verification, and updating of key documents that confirm the client’s identity, address, and financial situation. Below, we detail the steps of our KYC process.
- Client Identification
The first phase of the KYC process at GRUPO VERTEX involves identifying and verifying the identity of each client. To do so, we require clients to provide the following documents:
- Official Identification Document: We request a valid government-issued identification with a photograph, such as a passport, national ID card, or driver’s license. This identification must be current and in good condition.
- Proof of Address: We also require a recent proof of address, no older than 3 months. Acceptable documents include:
- Utility bills (water, electricity, gas).
- Bank or credit card statements.
- Tax payment receipts or rental agreements.
The proof of address must match the address registered by the client when opening the account.
- Proof of Deposit
At GRUPO VERTEX, it is crucial to ensure that the funds used by the client come from legitimate sources. For this reason, we require proof of deposit that demonstrates the capital invested is legitimate. This may include:
- Confirmation of bank transfer.
- Bank statement showing the deposit.
- Receipt of payment through other approved methods by GRUPO VERTEX.
This step ensures that the client has the necessary financial resources and that the funds originate from lawful activities, in line with our Anti-Money Laundering (AML) policies.
- Signed Contract Accepting Terms and Conditions
Before a client’s account is activated, they must sign a contract accepting the terms and conditions of GRUPO VERTEX. This contract includes:
- The rules and conditions of using the platform.
- Terms regarding applicable fees and commissions.
- Risk management policies and warnings about the risks associated with investments in financial products like CFDs and forex.
- Acceptance of responsibility for the use of the platform.
Signing this contract implies that the client has read, understood, and agreed to all the terms set by GRUPO VERTEX, and that they are aware of the inherent risks in financial markets.
- Risk Assessment
At GRUPO VERTEX, we evaluate the risk profile of each client as part of our KYC process. This analysis allows us to classify clients based on their level of risk, taking into account factors such as:
- The initial deposit amount.
- The frequency and volume of transactions.
- The financial instruments they trade.
- Their financial history and trading experience.
- The jurisdiction in which they reside and where they conduct transactions.
Clients with higher risk profiles, such as those managing large volumes or coming from higher-risk jurisdictions, may be subject to additional controls or stricter monitoring.
- Ongoing Monitoring and Information Updates
The KYC process at GRUPO VERTEX does not end once the client’s account is approved. We implement ongoing monitoring to ensure that the client’s activities remain within established parameters. This monitoring includes:
- Transaction tracking: We periodically review client transactions to detect any suspicious activity or inconsistencies with their risk profile.
- Information updates: We request clients to periodically update their personal information (identification, proof of address, etc.) to ensure our records are always current and reflect the client’s situation accurately.
- Compliance with Anti-Money Laundering (AML) Regulations
At GRUPO VERTEX, compliance with Anti-Money Laundering (AML) regulations is a priority. All client activities are reviewed for signs of potential illegal activities. Our compliance team regularly performs checks using international sanctions lists and databases to ensure that our clients are not involved in illicit activities.
Additionally, we ensure that the funds used in transactions come from legitimate sources and that all transactions comply with international money laundering prevention regulations.
- Record Keeping and Data Retention
All documentation provided by clients and the records of verifications performed are securely stored and kept confidential. At GRUPO VERTEX, we comply with international regulations that require this information to be retained for a minimum period of five to seven years after the commercial relationship with the client has ended.
- Conclusion
The KYC process at GRUPO VERTEX is an essential step in protecting both our clients and our platform. Through the thorough verification of documents such as identification, proof of address, proof of deposit, and the signing of the terms and conditions contract, we ensure that all transactions are legitimate and secure.
This process also ensures that our clients are aware of the risks inherent in trading and that they comply with all applicable regulations, contributing to a more transparent, safe, and reliable financial environment for all our users