Know Your Customer (KYC) Policy

Introduction

Tether.mv is committed to maintaining the highest standards of compliance with international Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) regulations. This Know Your Customer (KYC) Policy outlines our procedures for verifying customer identities and ensuring the security of our cryptocurrency exchange platform.

As a regulated cryptocurrency exchange operating in the Maldives, we are required by law to collect, verify, and maintain accurate customer information. This policy ensures transparency, protects our users, and maintains the integrity of the financial system.

Why KYC Verification is Required

KYC verification serves multiple critical purposes for our platform and our users:

• Legal Compliance: We are legally obligated to comply with the Maldives Monetary Authority (MMA) regulations and international AML/CFT standards
• Fraud Prevention: Verification helps prevent identity theft, account takeovers, and fraudulent transactions
• User Protection: KYC safeguards your account from unauthorized access and protects your funds
• Platform Security: Verified users contribute to a safer trading environment for all customers
• Transaction Safety: Ensures that cryptocurrency transactions are legitimate and traceable
• Risk Management: Helps us identify and prevent high-risk activities such as money laundering

Required Documents & Information

1. Personal Information

You will be required to provide the following personal details:

• Full legal name (as shown on government-issued ID)
• Date of birth
• Nationality
• Residential address (including island, atoll, and house/building name)
• Maldivian mobile number (+960)
• Email address

2. Identity Verification Documents

You must submit one of the following government-issued identity documents:

3. Selfie Verification

A clear, recent selfie photograph is required to match your face with the photo on your identity document. This prevents impersonation and ensures the person submitting the documents is the legitimate account holder.

4. AML/Source of Funds Information

For compliance purposes, we collect information about:

• Your occupation or business activity
• Purpose of using cryptocurrency exchange services
• Source of funds for crypto transactions
• Expected transaction volumes (monthly)

Verification Process

Step 1: Account Registration

Create your Tether.mv account using your Maldivian mobile number. You will receive an OTP verification code to confirm your phone number ownership.

Step 2: Submit Personal Information

Complete your profile with accurate personal information including your full name, date of birth, nationality, and residential address. Ensure all information matches your identity document exactly.

Step 3: Upload Identity Documents

Take clear photos of your chosen identity document (front and back if applicable) and upload them through our secure portal. Our system uses advanced document verification technology to detect authenticity.

Step 4: Selfie Verification

Take a live selfie using your device camera. Our facial recognition technology will compare this photo with your ID document to ensure they match.

Step 5: AML Questionnaire

Complete a brief questionnaire about your occupation, source of funds, and intended use of our platform. This information helps us ensure compliance with AML regulations.

Step 6: Admin Review

Our compliance team will review your submission within 24-48 hours. We may request additional information or clarification if needed. You will be notified by email and SMS once your verification is complete.

Data Protection & Privacy

Your privacy and data security are our top priorities. We employ industry-leading security measures to protect your personal information:

• Encryption: All data is encrypted both in transit (SSL/TLS) and at rest (AES-256)
• Secure Storage: Documents are stored on secure, access-controlled servers with regular backups
• Limited Access: Only authorized compliance staff can access KYC information
• Audit Trails: All access to KYC data is logged and monitored
• Data Minimization: We only collect information necessary for verification and compliance
• Retention Policy: KYC documents are retained for 5 years after account closure as required by law

Contact Us

If you have questions about our KYC policy or need assistance with verification, please contact our support team:

• Email: [email protected]
• General Support: [email protected]
• Phone: +960 9494941 (Business hours: 9 AM - 6 PM MVT, Sunday - Thursday)

For urgent KYC-related issues, please mark your email subject with [KYC URGENT] for priority handling.