KYP

HeartLine KYC (Know Your Customer) Policy 

1. Introduction 

HeartLine is dedicated to upholding the highest standards of integrity, transparency, and accountability in all its operations. This Know Your Customer (KYC) Policy establishes the framework for verifying the identities of our customers, mitigating risks related to financial crimes, and ensuring full compliance with applicable legal and regulatory standards, including Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations. 

The policy forms a crucial part of our overall risk management framework, designed to safeguard the business from unlawful activities, enhance trust, and ensure the safety of financial ecosystems. 

2. Objectives 

The key objectives of this KYC policy are: 

  • To establish and verify the identity of customers.
  • To understand the nature of customer relationships, ensuring their legitimacy and consistency with HeartLine’s risk tolerance.
  • To monitor transactions for potential suspicious activities.
  • To comply with all applicable local and international laws regarding AML, CTF, and other financial crimes.
  • To safeguard HeartLine’s reputation and maintain the trust of customers and stakeholders.

3. Scope 

This KYC policy applies to all customers engaging with HeartLine, including both individual and corporate entities. The policy is applicable throughout the customer relationship lifecycle, covering onboarding, account maintenance, and ongoing monitoring. 

The scope includes: 

  • Collection and verification of customer information.
  • Periodic risk assessment and ongoing transaction monitoring.
  • Compliance with relevant regulatory requirements.

4. Customer Identification Requirements 

A. Individual Customers: 

  • Full Legal Name: Verified against government-issued identification.
  • Date of Birth: Verified through valid official documents such as a birth certificate, passport, or national ID.
  • Nationality: Confirmed via passport or national ID.
  • Residential Address: Proof of address required (e.g., recent utility bill, bank statement).
  • Contact Information: A verified phone number and email address.
  • Government-Issued Identification: Accepted documents include passports, national IDs, or driver’s licenses, with clear photographs and expiration dates.

B. Corporate Customers: 

  • Registered Business Name: As per official registration with government authorities.
  • Company Registration Number: Verified against relevant government databases.
  • Registered Address: Proof of business address (e.g., utility bills, lease agreements).
  • Contact Information: A valid phone number and email address for business correspondence.
  • Authorized Signatories: Full names, identification details, and proof of authority for individuals acting on behalf of the company.
  • Certificate of Incorporation or Business Registration: A verified copy of the official certificate issued by the relevant regulatory body.

5. Verification Process 

HeartLine employs a robust and multi-layered verification process to ensure the accuracy and validity of customer data, minimize risks, and enhance regulatory compliance: 

  1. Document Submission: Customers must submit required identification documents via HeartLine’s secure online portal or in-person at authorized service points.
  1. Preliminary Review: The compliance team conducts a thorough initial review of submitted documents to verify completeness, consistency, and authenticity.
  1. Third-Party Verification: External verification services may be employed to cross-check customer data against governmental, international, and sanction databases to ensure compliance with AML and CTF requirements.
  1. Enhanced Due Diligence (EDD): High-risk customers, including politically exposed persons (PEPs), may undergo additional verification procedures.
  1. Risk Assessment: Customers are classified based on risk levels (low, medium, high), and specific risk-mitigation measures are applied accordingly.
  1. Final Approval: Upon successful verification, customers receive notification of account activation or approval. Any discrepancies during verification will be communicated promptly for resolution.

6. Ongoing Monitoring and Risk Management 

HeartLine adopts a dynamic risk-based approach, continually monitoring customer activities throughout the business relationship. The ongoing monitoring process includes: 

  • Regular Reviews: Customer profiles and transactions are periodically reviewed based on the risk classification and regulatory requirements.
  • Transaction Monitoring: Advanced systems track and flag suspicious or unusual transactions that may indicate money laundering or other financial crimes.
  • High-Risk Customer Handling: Customers identified as high-risk will be subject to enhanced monitoring and periodic due diligence reviews.
  • Suspicious Activity Reporting (SAR): Any suspicious transactions or behaviors are promptly reported to the relevant regulatory authorities in accordance with legal obligations.

7. Data Privacy and Security 

HeartLine is deeply committed to protecting customer data. All personal information collected during the KYC process is stored securely in compliance with data protection laws such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). Strict access controls, encryption technologies, and secure protocols ensure that sensitive data remains confidential and is used only for legitimate compliance purposes. 

8. Compliance with Regulations and Reporting 

HeartLine adheres to all AML, CTF, and related regulatory obligations at both local and international levels. This includes maintaining comprehensive records of customer identification and verification procedures, and ensuring prompt reporting of any suspicious activities or transactions to the appropriate authorities, such as financial intelligence units (FIUs). 

Failure to comply with these obligations may result in significant legal penalties, reputational damage, and restrictions on operations. 

9. Customer Responsibilities 

Customers are expected to comply with the following: 

  • Provide Accurate Information: Customers must ensure that all information and documents submitted during the KYC process are accurate and truthful.
  • Timely Updates: Any changes to personal or business details must be promptly communicated to HeartLine.
  • Cooperate with Requests: Customers are required to cooperate with HeartLine in providing any additional documentation or clarifications that may be requested during the verification process or periodic reviews.

Failure to meet these responsibilities may result in the suspension or termination of services. 

10. Communication and Support 

For any queries, concerns, or assistance related to the KYC process, customers can contact the HeartLine compliance team through the following channels: 

  • Email: support@heartline.app
  • Phone: +1-800 (432-7854)

11. Amendments to the Policy 

HeartLine reserves the right to amend this KYC Policy as necessary to reflect changes in legal and regulatory requirements or to improve the efficiency and effectiveness of the process. Any significant amendments will be communicated to customers through official channels, and updated policies will be published on our website.