1. INTRODUCTION
WeMasterTrade. ("the Companies") are committed to verifying the identity of all users to prevent fraud, financial crime, and misuse of our services. This KYC Policy outlines our identity verification procedures, aligned with FATF standards, PCMLTFA (Canada), and applicable data protection laws including GDPR.
KYC completion is mandatory. No user may access either platform without completing the required verification.
2. VERIFICATION PROCESS
Identity verification is conducted through Sumsub, a regulated third-party KYC and identity verification platform:
Document authenticity and expiry verification
• Optical Character Recognition (OCR) to extract and verify ID data
• Liveness detection and biometric face matching
• PEP and sanctions screening
• IP geolocation and device checks
Verification is typically completed within minutes. Where manual review is required, users will be notified of the expected timeframe. Sumsub services include document verification, biometric liveness checks, sanctions screening, and ongoing monitoring tools.
3. REQUIRED DOCUMENTS
All users must provide the following:
Standard Verification (all users)
Government-issued photo ID — passport, national ID, or driver's licence (valid, unexpired)
• Proof of address — utility bill, bank statement, or government correspondence (issued within 3 months)
• Live selfie for biometric face matching
• Email verification
Enhanced Verification (high-risk users)
Required in addition to standard verification for Politically Exposed Persons (PEPs), users from elevated-risk jurisdictions, or accounts with unusual activity:
• Proof of address — utility bill, bank statement, or government correspondence (issued within 3 months)
• Source of funds declaration and supporting documentation
4. USER ACCESS
Users who do not complete KYC, or whose verification is unsuccessful, will not be permitted to access platform services. The Companies reserve the right to:
• Request additional documentation at any time
• Suspend or terminate accounts where verification concerns arise
• Reject users without obligation to provide a reason
Appeals may be submitted to [email protected] within 14 days of a rejection decision.
5. RESTRICTED JURISDICTIONS
The Company does not onboard users from sanctioned or high-risk countries. Access is enforced through IP-based geofencing and identity verification controls.
Sanctioned / Embargoed Countries:
• Cuba: CU
• Lebanon: LB
• Syria: SY
• Libya: LY
• Israel: IL
• Russia: RU
• Sudan: SD
• Somalia: SO
• South Sudan: SS
• Central African Republic: CF
• Democratic Republic of Congo: CD
• Nicaragua: NI
• Venezuela: VE
• Yemen: YE
• North Korea: KP
• United States: US
• Iran: IR
• Vietnam: VN
The countries listed above are subject to international sanctions, regulatory restrictions, or have been identified as high-risk jurisdictions by the Financial Action Task Force (FATF), OFAC, UN Security Council, or our internal compliance review.
“Please note that this list is provided for informational purposes only and is subject to change based on updates to international regulations.”
6. DATA SECURITY AND PRIVACY
All personal data and documents submitted during KYC are:
• Encrypted in transit and at rest
• Processed by Sumsub under a regulated Data Processing Agreement
• Retained for a minimum of 5 years in accordance with applicable law
• Accessible only to authorised personnel
The Company does not directly store raw KYC documents. Users have the right to access, correct, or request deletion of their personal data, subject to applicable legal requirements.
Please contact us at [email protected]
7. POLICY REVIEW
This Policy is reviewed annually and updated as required to reflect changes in applicable law, regulatory guidance, or our verification procedures.
