KYC Essentials

To help keep you safe and secure, we’ll reach out from time to time to confirm your personal and/or business details.

Maintaining current identification details helps us play an important role in detecting, deterring and disrupting financial crime. You’ll see us refer to this as our ‘Know Your Customer (KYC) requirements under the Anti Money Laundering and Counter-Terrorism Financing Act 2006

We ask this information for two main reasons:

To ensure that the information we hold on file for you is correct and up to date. This helps us to identify and stop any unusual activity that may occur.
To ensure that we’re acting in accordance with our obligations set out by our regulators. All designated service providers operating within Australia are required to collect and maintain this information.

How do we collect KYC?

Azupay performs a KYC refresh as part of our Ongoing Customer Due Diligence (OCDD) process. This occurs every 5 years for low-risk customers, every 2 years for medium-risk customers, and annually for high-risk customers. This is carried out by collecting information through our Questionnaire, which is sent to customers as part of the process. The Questionnaire covers key areas that enable Azupay to appropriately assess customer risk and support our efforts to detect and prevent financial crime. This proactive approach helps identify, monitor and mitigate potential threats before they result in legal, reputational, or financial harm for our customers