KYC Policy

Know Your Customer (KYC) checks help [Opreet legal entity name: to be confirmed] (“Opreet”) confirm that customers are who they say they are, protect accounts from fraud and meet legal obligations on anti-money-laundering and counter-terrorist financing. See our AML/CFT Policy.

When you create an Opreet account you give us your full name, email address and Nigerian mobile phone number, and you create a password and a transaction PIN. At the date of this policy, the Opreet web app does not ask you to upload identity documents or provide a government identification number.

Where verification is required by law, by a regulator or by a regulated partner, we may ask for information such as:

• your full legal name, date of birth, residential address and nationality;
• a government-issued identification number or document, as the rules require;
• a photograph or other proof that the person verifying is the holder of the identity;
• information about the source of funds or the purpose of your account, where the risk calls for it.

We ask only for what is needed for the check, and tell you why.

Verification may be carried out by Opreet or by a regulated partner or verification provider on our behalf, by comparing what you give us against official or reliable sources. Which provider is used, and which checks apply to you, depends on the product and on the law. The approach is risk-based: the checks we apply, and when, are proportionate to the risk involved. Providers used: [payment and bill-payment service providers: to be confirmed].

For higher-risk situations we may ask for more information or evidence. Where required, we also screen customers against sanctions lists and for politically exposed persons (PEPs). A match does not mean wrongdoing, but may lead to extra checks or to us being unable to provide a service.

If we cannot verify you, or the information is inconsistent or out of date, we may:

• ask you for more information or a different document;
• limit, hold or refuse certain features or transactions;
• suspend or close the account, where the law requires or we cannot meet our obligations otherwise.

Where we can, we will explain what is needed to resolve it. You can ask us to review a decision, as described below.

We may ask you to re-verify or update your details from time to time, for example when information changes, expires, or our risk assessment changes. Please keep your details current.

Verification information is personal data. We use it only for verification, fraud prevention and legal compliance, restrict access to it, and share it only with the providers and authorities described in our Privacy Policy.

We keep identification information for as long as the law requires, which can continue after an account is closed. Retention periods: [data retention periods: to be confirmed].

If you think a verification decision is wrong, or you cannot provide a document, contact [support email address: to be confirmed] or use our complaints process. We will look at your case and respond.