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KYC Policy

PURPOSE

This policy document gives an overview of the standards issued by readease.net on Know Your Customer (KYC) and Anti Money Laundering (AML) processes for the prevention of money laundering activities and corporate practices while dealing with our customers.

SCOPE

The company is committed to transparency and fairness in dealing with all authors and customers in ensuring adherence to all laws and regulations. The company ensures that information collected from authors for any purpose will be kept confidential. The company also commits that the information sought from the customer is in conformity with the guidelines issued in this regard. Any other information from the author shall be sought from the author separately with their consent and after the effective rendering of service. The company shall also communicate its KYC norms to the authors.

APPLIES TO

This policy applies to readease.net management, staff, and authors. All new joiners are required to acknowledge having read the policy document and sign a letter and spirit of adherence to the policy.

KYC POLICY

Due to national and international regulations for the prevention of criminal activities, money laundering, and terrorism financing, readease.net strictly implements Know Your Customer regulatory guidelines and procedures. While we respect and honor the confidentiality of our authors, we are committed to undertaking thorough due diligence of their identities.

KYC Policy of readease.net is based on principles of partnership: if we know and understand our customers, they know and understand us. Therefore, it is our obligation not just to undertake a full and proper due diligence of our customers and their needs but also monitor and ensure that their business activities do not breach any national and international regulations with regards to anti-money laundering and terrorism financing.

readease.net is committed to the highest standards of KYC compliance and requires management and authors to adhere to these standards in preventing the use of the readease.net platform for money laundering or terrorism financing purposes.

AML POLICY

When it comes to Anti-Money Laundering regulations, regulators are scrutinizing processes, systems, and controls and are unforgiving of sub-standard corporate compliance programs and policies. Customer background has been an area of focus of regulatory authorities working to curb the menace of identity theft, money laundering, terrorist funding, etc. As a result, many companies like readease.net have to ensure strict AML compliance.

Thus, in accordance with the AML requirements, readease.net checks the authors’ identity during registration by requesting to fill out the form. They confirm that they are real persons, are not engaged in laundering money obtained by criminal means, are not in the territories under sanctions, etc.

IDENTITY CHECK

readease.net verifies the identity of a person before they register as an author by collecting and checking the following documents:

  • ID number;
  • Passport;
  • Visa,
  • or Driving license.

PROVIDING AN ID NUMBER

For some countries, account holders are required to provide their national identification number. For others, we highly recommend providing the ID number to increase the likelihood of passing the identity check.

RETRYING THE VERIFICATION

If readease.net can’t verify the person’s identity based on the provided information, the identity check will get the verification status “Invalid Data.” In this case, readease.net management will ask the account holder to update their information.

readease.net will attempt to verify the person’s identity up to three times. After the third attempt, a photo ID verification will be required. When the photo ID check is successful, the identity check status will change to “Passed.”

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