KYC & AML Policy

Know Your Customer (KYC) is the process by which a financial service confirms that a client is a real, identifiable person, that the details supplied during registration are accurate, and that the person opening the account is the same person who controls the payment method used to fund it. In practice this means collecting a small set of documents, checking them against the information in your profile, and keeping that information up to date for as long as your account stays open.

Anti-Money Laundering (AML) refers to the controls a service maintains so that it is not used to disguise the origin of criminal funds, to finance terrorism, or to circumvent sanctions and other restrictions. AML controls include client due diligence at onboarding, risk classification, monitoring of deposits and withdrawals, record keeping, and the reporting of suspicious activity to the competent authorities where the law requires it.

The two disciplines work together. KYC establishes who you are; AML establishes that the money moving through your account is consistent with what you have told us about yourself. Lorn Creditvale applies both on a risk-sensitive basis, which means that a straightforward retail account normally requires only the standard document set, while unusual patterns or higher-risk profiles may trigger additional questions.

We collect only what is necessary for these purposes, retain it for the period required by applicable law, and handle it in accordance with our privacy policy. Verification data is not used for marketing and is not shared with third parties except where processing, auditing or legal obligations require it.

Why a check can be rejected. Most rejections are technical rather than substantive. Common reasons include: an expired or unreadable document; a file that has been cropped, edited or captured at an angle that hides part of the page; a proof of address that is too old or shows a different address than your profile; a payment method held in someone else's name; a mismatch between the name on the document and the name on the account; or a document type that is not accepted in your jurisdiction.

If a submission is rejected you will normally be told what was wrong and invited to upload a corrected file. Where a rejection is based on a legal restriction — for example a jurisdiction we do not serve, or an inability to complete due diligence to the standard the law requires — we may be unable to continue the relationship, and we may not be permitted to explain the reason in detail.

Ongoing transaction monitoring. Verification is not a one-off event. For as long as your account is open, deposits, withdrawals and account changes are monitored on a risk-sensitive basis against your stated profile. Automated rules flag patterns that look inconsistent — unusual frequency or size relative to your history, funding from a method that is not yours, rapid deposit-and-withdrawal cycles, or activity linked to restricted regions.

A flag is not an accusation. It usually results in a routine request for clarification or an updated document. Where we are legally required to do so, Lorn Creditvale may delay or refuse a transaction, request evidence of the source of funds, apply enhanced due diligence, restrict an account, or report activity to the competent authorities. Periodic re-verification may also be requested when documents expire or your circumstances change.