Overview
Altervance Ltd. adheres to “Know Your Customer” (KYC) principles to prevent financial crime and money laundering through client identification and due diligence.
Right to Request Documentation
Altervance Ltd. reserves the right to request any KYC documentation deemed necessary to determine the identity and location of a user on jitabetace.com. We may restrict services, payments, or withdrawals until identity is sufficiently determined or for any other reason within our legal discretion.
Risk-Based Approach
We perform strict due diligence checks and ongoing monitoring of all clients, customers, and transactions. According to money laundering regulations, we utilize three stages of due diligence checks based on risk, transaction, and customer type:
- SDD (Simplified Due Diligence): Used for extremely low-risk transactions that do not meet required thresholds.
- CDD (Customer Due Diligence): The standard due diligence check for most verification and identification cases.
- EDD (Enhanced Due Diligence): Applied to high-risk customers, large transactions, or special cases.
KYC Process Requirements
When a user’s aggregate lifetime deposits exceed EUR 5,000, or they request a withdrawal or complete a transaction deemed suspicious, a full KYC process is mandatory. During this process, users must provide:
- A copy of a Government Issued Photo ID (front and back, if applicable)
- A selfie holding the ID
- A bank statement or utility bill
Guidelines for the KYC Process
Proof of ID
- Must include a signature
- Must not be from restricted countries (Austria, France and its territories, Germany, Netherlands and its territories, Spain, Union of Comoros, United Kingdom, USA and its territories, all FATF Blacklisted countries, or other prohibited jurisdictions by Anjouan Offshore Financial Authority)
- Full name must match the client’s name
- Must not expire within the next 3 months
- Owner must be over 18 years old
Proof of Residence
- Bank statement or utility bill
- Must not be from restricted countries (listed above)
- Full name must match the client’s name and be the same as on the proof of ID
- Date of issue must be within the last 3 months
Selfie with ID
- Holder must match the ID document
- ID document must be the same as provided in the proof of ID section
Notes on the KYC Process
If the KYC process is unsuccessful, the reason is documented, and a support ticket is created. The ticket number and explanation are communicated to the user. Once all proper documents are received, the account is approved.