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

Phynite works diligently to support the efforts of our partners to know our customers and prevent money laundering. We are required to collect and periodically check the information on all of our customers. The following information is required:

Customer Information Required

• Full Legal Name (as it appears on your government identification, including middle name if applicable)

• Full Physical Residential Address (P.O. Box, post office location, commercial mail receiving agency, or a registered agent cannot be accepted)

• Date of Birth

• SSN, ITIN, or other valid government-issued ID (where applicable)

How can I provide my information to Phynite?

You will receive an email from [e-mail] with a link that can be used to submit the requested information.

Frequently Asked Questions

1. What is Know Your Customer (KYC)?

   1. KYC is a government requirement designed to verify the identity of customers and understand their activities.

2. What is the purpose of Know Your Customer?

   1. KYC plays a role in verifying the identify of customers to assist in preventing anti-money laundering activities, fraud, illegal fund transfers, and the financing of terrorism.

3. What is the process of Know Your Customer verification?

   1. KYC procedures involve the collection and verification of customer's personal information through the form of an acceptable identification card.

   2. Personal information includes your

      1. First name, Middle name (if applicable), and Last name.

      2. Residential address (including City, State/Province, Postal/Zip Code & Country, as applicable)

      3. Date of Birth,

      4. Social Security number or equivalent, in certain cases.

4. What Identification Cards are acceptable?

   1. State Issued Driver’s License or Identification Card

   2. Passport

   3. United States Permanent Residence Card

   4. National Identity Card (if from outside of United States)

   5. United States Military Identification Card

5. What Identification Cards are unacceptable?

   1. School Identification Card

   2. Medical Identification Card

   3. Temporary (paper) Identification Card

   4. Residence Permit

   5. Public Services Card

6. What does it mean if a customer is asked for additional information concerning proof of their address?

   1. Sometimes, Phynite needs additional information to verify a customer’s address. If this is the case, we may ask that you submit to us a copy of a recent (last three months) bank statement, credit card statement, or utility bill.

7. How Phynite handles Know Your Customer verification?

   1. After a customer submits their personal information, Phynite will work to verify a customer’s identity.