Know your customer (“KYC”) policy

DAX Malta Ltd takes KYC very seriously and has chosen to work with global leader, Identity Mind. Identity Mind builds, maintains and analyzes digital identities worldwide, allowing companies like DAX Malta Ltd to perform identity proofing, risk-based authentication, RegTech identification, prevent identity fraud, and identify money laundering.

Verification procedures

One of the international standards for preventing illegal activity is customer due diligence (“CDD”). According to CDD, DAX Malta Ltd utilizes the verification procedures carried out by Identity Mind.

Identity verification

DAX Malta Ltd’s identity verification procedure requires the User to provide DAX Malta Ltd and Identity Mind with reliable, independent source documents, data or information (e.g., national ID, international passport, bank statement, utility bill). For such purposes DAX Malta Ltd and Identity Mind reserve the right to collect User’s identification information for the AML/KYC Policy purposes.

DAX Malta Ltd and Identity Mind will take steps to confirm the authenticity of documents and information provided by the Users. All legal methods for double-checking identification information will be used and DAX Malta Ltd and Identity Mind reserve the right to investigate certain Users who have been determined to be risky or suspicious.

DAX Malta Ltd and Identity Mind reserve the right to verify User’s identity in an on-going basis, especially when their identification information has been changed or their activity seemed to be suspicious (unusual for the particular User). In addition, DAX Malta Ltd and Identity Mind reserve the right to request up-to-date documents from the Users, even though they have passed identity verification in the past.

User’s identification information will be collected, stored, shared and protected strictly in accordance with DAX Malta Ltd’s Privacy Policy and related regulations.

Once the User’s identity has been verified, DAX Malta Ltd is able to remove itself from potential legal liability in a situation where its Services are used to conduct illegal activity.

Card verification

Users who intend to use payment cards in connection with DAX Malta Ltd’s Services have to pass card verification in accordance with instructions available on DAX Malta Ltd’s website(s).