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

Phynite believes in comprehensive customer identification, customer due diligence, and enhanced due diligence (if applicable). Our staff is trained in risk-based procedures that enable them to form a reasonable belief in the true identity of our customers. Phynite’s goal is to obtain ample information on our customers to verify their identity and assess their riskiness.

Our staff is trained to request a customer’s full legal name, full physical address, date of birth, and in certain cases identification number. Upon receipt of a customer’s personal information, we perform customer due diligence to examine and verify the information that we have received. If Phynite has reason to believe that a customer may pose additional risks, we may perform enhanced due diligence to gain a better understanding of a customer’s motivations to utilize our services.