Know Your Customer (KYC) Policy

1. Introduction

Know Your Customer (KYC) is a critical process implemented by NUEVOBANCO to verify the identity of our customers, assess potential risks of illegal intentions and ensure compliance with anti-money laundering regulations.

2. Purpose of KYC

Our KYC procedures are designed to:

Prevent identity theft, financial fraud, money laundering and terrorist financing
Allow us to better understand our customers and their financial transactions
Manage risks prudently
Comply with applicable laws and regulations

3. Customer Identification Program (CIP)

For individual customers

We require the following information and documents:

Full legal name
Date of birth
Current residential address
Government-issued photo ID (passport, national ID card, or driver's license)
Proof of address (utility bill, bank statement or rental contract less than 3 months old)
Tax identification number

For business customers

Additional requirements include:

Certificate of incorporation
Company registration documents
Proof of business address
Identification of beneficial owners (25% or more ownership)
Resolution of the board of directors for account opening
Financial statements (if applicable)

4. Customer risk assessment

We categorize customers into different risk levels based on:

Low Risk

• Salaried employees
• Government entities
• Listed companies

Medium Risk

• Cash-intensive businesses
• Non-residents
• Complex structures

High Risk

• PEPs
• High risk countries
• Shell companies

5. Enhanced Diligence (RD)

For high-risk customers, we apply enhanced due diligence measures, including:

Additional documentation on the source of funds and wealth
More frequent account monitoring
Senior management approval for account opening
Regular review of customer relations

6. Continuous monitoring

KYC is not a one-time process. We constantly monitor:

Transaction patterns for unusual activities
Changes in the client's situation
Customer information updates
Sanctions and PEP lists

7. Document Verification Process

Submission : The client uploads the required documents via our secure portal
Verification : Our team verifies authenticity using advanced verification tools
Approval : The account is activated after successful verification
Storage : Documents are stored securely in accordance with data protection laws

8. Customer Responsibilities

Customers are required to:

Provide accurate and complete information
Submit authentic documents
Update information when circumstances change
Cooperate with periodic review requests
Respond promptly to requests for additional information

9. Data protection and confidentiality

We are committed to protecting your personal information:

Data is encrypted and stored securely
Access is restricted to authorized personnel only
Information is only shared when required by law
We comply with GDPR and other data protection regulations

10. Consequences of non-compliance

Failure to comply with KYC requirements may result in:

Delay in opening the account
Restrictions on account features
Account suspension or closure
Reporting to regulatory authorities

11. Frequently asked questions

Why do I have to provide so many documents?

These requirements are mandated by law to prevent financial crimes and protect both you and the financial system.

How long does the verification process take?

Typically 1-3 business days for standard requests. Complex cases may take longer.

Is my information safe?

Yes, we use bank-grade encryption and security measures to protect your data.

12. Contact us

For any questions regarding our KYC process:

KYC Support Team
Email: kyc@nuevobnks.online
Phone: +33 1 XX XX XX XX
Hours: Monday - Friday, 9:00 - 18:00 CET