KYC & AML Policy
Prior to any funding activity or withdrawal requests, each Oak Capvern account must go through a verification process. This page outlines the verification requirements, acceptable documentation, typical processing timeframes and your responsibilities.
- Identity checks on every account
- Documents handled confidentially
- Ongoing transaction monitoring
On this page
- What KYC means
- What AML means
- Why verification is required
- Accepted documents
- Verification steps
- How long it takes
- Why a check can fail
- Ongoing monitoring
- Your obligations
- Questions
What "Know Your Customer" means
Know Your Customer (KYC) is a financial service standard used to verify that a client is a legitimate, identifiable individual and that the registration information provided is authentic.
At Oak Capvern, the KYC process involves gathering and validating key personal information: your full legal name, date of birth, country where you reside, contact information and your chosen payment method. We cross-reference the information submitted in your registration with the details contained in the documents you provide.
What we do not do
We do not ask for your online banking password, your full card PIN, or remote access to your device. No member of our team will ever request those. Any message that does is not from us and should be reported through the abuse form.
What "anti-money laundering" means
Anti-money laundering (AML) is the set of internal controls a financial service uses to prevent its platform from being used to move the proceeds of crime, to finance illegal activity, or to disguise the true origin of funds.
Anti-Money Laundering (AML) measures extend beyond a single identity verification. They encompass account risk assessment, sanctions checks, screening for politically-exposed individuals, monitoring of atypical transaction patterns, documentation requirements, internal procedures for flagging questionable transactions and, when mandated by regulation, notification to relevant authorities.
Where AML rules and a client instruction conflict, the AML rules take priority. That can mean a delayed transaction, a request for additional documents, or a restricted account until the matter is resolved.
Why verification is required
- 01
Legal obligation
Entities that manage or handle customer funds are typically obligated to establish the identity of their customers prior to service delivery. This requirement is mandatory and applies uniformly across all accounts.
- 02
Protecting your money
Account verification establishes a direct link between the account and a single verified individual. This makes unauthorized account access substantially more difficult and ensures that refunded amounts can only go to payment methods that have been confirmed as yours.
- 03
Keeping the platform clean
Compliance screening prevents sanctioned entities and opaque corporate structures from operating on our platform, thereby safeguarding all other platform users.
- 04
Faster payouts later
An account verified up front does not have to stop for checks at withdrawal time, which is when delays are least welcome.
Which documents are accepted
We ask for up to three categories of document. Files should be colour images or PDFs, fully in frame, unedited, with all four corners and all text legible.
1. Identity document
A government-issued document that shows your photograph, full name, date of birth, document number and expiry date. Commonly accepted types are a passport, a national identity card, or a driving licence where it is issued as a photographic identity document. The document must be valid and not expired.
2. Proof of address
A recent document, usually issued within the last few months, showing your name and your residential address as it appears on your account. Typical examples are a utility statement, a bank or card statement, a local tax or municipal notice, or an official letter from a public authority. Post-office boxes and addresses belonging to someone else are not accepted.
3. Proof of payment method
Evidence that the funding instrument belongs to you. For a card, that is normally an image of the card showing your name, the first six and last four digits and the expiry date, with the remaining digits and the security code covered. For a transfer from a bank account, that is a statement or confirmation in your name showing the account identifier. For an electronic wallet, a screenshot of the account profile showing your name and the account identifier.
Formats and file size
Upload limits, accepted file types and any additional document requests are shown in the verification area of your account. Documents in a language other than the account language may require a translation; the compliance team will tell you if that applies.
The verification steps
- 01
Register
Open your account using your true legal name, birth date, place of residence, email address and phone number. The most frequent source of verification delays is discrepancies between your account information and your submitted documents.
- 02
Confirm contact details
Confirm your email address and, where requested, your phone number. This proves the contact channels belong to you.
- 03
Upload your identity document
Submit the documents containing your photo and identifying information. Certain verification processes may include a brief identity confirmation or photo verification to ensure the document holder is the document owner.
- 04
Upload proof of address
Upload a recent qualifying document in your name at the address on file.
- 05
Confirm the payment method
Provide proof of the instrument you will use to fund and to receive withdrawals.
- 06
Screening and review
The compliance department examines your submission, performs required sanctions and risk assessments, and either grants approval or requests modifications.
- 07
Confirmation
You receive a notification once the account status changes. The current status is always visible in the verification area of your account.
How long a check takes
Most complete applications receive assessment within several hours or up to two working days. Submissions requiring additional review, translation or supplementary documents may require extended processing.
Processing speed varies based on application volume, document quality and whether expanded screening measures are needed. The estimated processing window for your specific account and the current status of all submitted materials are viewable in your account dashboard - this timeline takes precedence over any other quoted estimate.
- Clear, complete, unedited uploads are reviewed fastest.
- Requests submitted outside business hours are queued for the next working day.
- Enhanced review, where required, adds time and is communicated to you.
Why a check can be rejected
A rejection is usually a document problem, not a judgement about you. In most cases you can simply re-upload and the account is approved on the second attempt.
| Reason | How to fix it |
|---|---|
| Image blurred, cropped or glare-covered | Re-shoot in daylight, flat on a dark surface, all four corners visible. |
| Document expired | Upload a currently valid document. |
| Account details do not align with the name or birth date on file | Revise your account information or furnish documentation proving a legal name change. |
| Proof of address too old or not in your name | Furnish a current valid document issued in your name at your registered location. |
| Payment method belongs to a third party | Use an instrument in your own name - third-party funding is not accepted. |
| File edited, cropped to hide data, or a screenshot of a screen | Submit an unmodified original image or PDF. |
| Residence in an excluded jurisdiction | The account cannot be opened; see our licensing page for the general position. |
If a decision is unclear to you, contact support and ask for the reason. Where the law permits us to explain, we will.
Ongoing transaction monitoring
Verification is not a one-time event. Accounts and transactions are monitored for as long as the relationship lasts.
What is monitored
Funding and withdrawal patterns, changes of payment instrument, changes of country or contact details, activity that does not match the profile you gave at sign-up, and any activity flagged by our screening tools.
What can happen as a result
- A request for refreshed documents or an explanation of the source of funds.
- A temporary hold on a specific transaction while it is reviewed.
- Adjustment of the limits published in your account.
- Restriction or closure of the account where the law requires it.
Records
Personal identification details and transaction documentation are kept for the time period mandated by applicable regulations following account closure, and are managed according to our Privacy Policy. In certain circumstances the law prevents us from telling a client that a report has been made.
Your obligations
- Submit truthful, current and comprehensive information and maintain its accuracy.
- Draw exclusively from your own financial resources and payment methods - do not use those belonging to third parties.
- Maintain a single account and safeguard your login credentials.
- Respond to document requests within the timeframe stated in the request.
- Tell us promptly if you change country of residence, legal name or payment method.
- Report any suspected unauthorised access to your account immediately.
Submitting falsified or altered documents is a serious matter. It leads to closure of the account and, where applicable law requires, notification of the competent authority.
Where to ask questions
Should any aspect of this page be ambiguous, or if you require clarification regarding your verification status, reach out to us before resubmitting documents.
Who reviews my documents?
A qualified compliance professional. Documents are maintained on secure servers with restricted access granted only to personnel involved in the verification process.
Can I start before I am verified?
You may set up and navigate your account, though funding capability, trading and withdrawal functionality are contingent on your verification status as reflected in your account.
Do I have to verify again later?
Possibly. Documents expire, addresses change and periodic refresh is a normal part of AML compliance. We will contact you if a refresh is needed.
How do I contact the compliance team?
Use the contact route on our contact page and reference "KYC" or "verification" in your inquiry along with the account email address. Please refrain from transmitting document files through unsecured methods - instead, upload them directly through your account.
Get verified once, cleanly
Ninety per cent of delays come from three things: a blurred photo, an out-of-date address document, and a payment method in someone else's name. Fix those and most checks pass first time.
Need help with a document?
Our support team can tell you exactly which file was rejected and why.
- Check your account's verification section initially.
- Then contact support with your registered email address.