Know Your Customer (KYC) Policy – Khelakoro

Objectives of Our KYC Policy

At Khelakoro, we are firmly committed to ensuring the highest level of regulatory compliance procedures through the implementation of a robust KYC Policy. The primary objective of our Know Your Customer (KYC) Policy is to verify the identity of users, prevent illegal activities such as money laundering, and promote responsible account management. We ensure that all procedures are in line with compliance with financial regulations and industry standards. By maintaining a structured framework, we aim to enhance customer due diligence, mitigate potential risks, and protect both the platform and its users.

Information We Collect

Proof of Identity and Address

To execute effective user onboarding checks, Khelakoro collects essential information that includes proof of identity and address. This includes government-issued ID checks, utility bills, bank statements, and other legally accepted documentation. These documents are critical to fulfilling document submission requirements and adhering to the KYC Policy of bank and similar financial institutions.

Financial and Risk Information

We also collect data that helps in the risk assessment of users and financial activity monitoring. This may include the source of funds, transaction history, and occupation details to detect inconsistencies or suspicious behaviors, which align with the anti-fraud measures embedded in our system.

Verification Process

Identity Verification Process

Khelakoro employs a multi-step identity verification process that includes user background checks, facial recognition, and cross-checks against official databases. These user verification protocols ensure the authentication of account holders and guard against impersonation or fraud.

Address Validation Steps

In addition to identity checks, address validation steps are performed to confirm the physical location of users. This double-layered verification ensures accuracy and supports preventing fraudulent activities by rejecting users with unverifiable details.

Enhanced Due Diligence for High-Risk Users

When users are classified as high-risk based on our internal scoring mechanism or due to their geographic location, we initiate enhanced due diligence for high-risk users. This involves collecting additional documentation, interviews, and continuous monitoring to maintain the integrity of our platform.

Data Protection and Confidentiality

Secure Data Handling

At Khelakoro, we prioritize secure data handling through encryption, restricted access, and regular security audits. The data collected for KYC Policy purposes is stored on secure servers, ensuring protection against unauthorized access or breaches.

Confidentiality Assurance

We strictly follow policies that respect user privacy while ensuring regulatory compliance procedures. All personal data is handled with the utmost confidentiality, and we do not disclose any user information without legal obligation. This commitment is part of the four key elements of KYC Policy, which include: Customer Identification, Customer Due Diligence, Ongoing Monitoring, and Risk Management.

When KYC is Required

During Account Creation and Transactions

KYC Policy procedures are mandatory at various stages of user interaction with the Khelakoro platform. Most importantly, user verification protocols are initiated during account registration and before any withdrawal or high-value transaction. These checks support authentication of account holders and ensure regulatory compliance procedures.

In Case of Suspicious Activity

If there is unusual or suspicious activity observed, customer due diligence is immediately escalated. We may request a fresh round of verification of personal documents or conduct deeper investigations as part of our anti-fraud measures.

Periodic Re-verification

To maintain the accuracy of user information and remain compliant with legal standards, Khelakoro may conduct periodic re-verification. This ongoing user onboarding check ensures that user data remains up-to-date and supports the broader elements of KYC Policy.