Terms of Use

A. Definition of the Platform

The "Platform" refers to the integrated digital KYC Kuwait system for managing customer identity verification processes, including:

• The electronic application and its software components
• Associated databases and servers
• Application Programming Interfaces (APIs)
• Supporting systems and analytical tools

B. Definition of Institutional Client

The "Institutional Client" means any licensed financial or non-financial institution operating in the State of Kuwait subject to KYC requirements, including:

• Commercial and Islamic banks
• Investment and brokerage companies
• Insurance companies
• Exchange and money transfer companies
• Dealers of precious metals and gemstones

C. Regulatory Authorities

The regulatory authorities responsible for AML/CTF implementation in Kuwait include:

• Central Bank of Kuwait
• Capital Markets Authority
• Kuwait Financial Intelligence Unit
• Ministry of Commerce and Industry

A. Identity Verification Services

• Automated verification of personal data
• Validation of official documents
• Corporate information verification
• Sanctions screening
• Client risk assessment

B. Ongoing Monitoring Services

• Real-time transaction monitoring
• Suspicious behavior detection
• High-risk alerts
• Periodic client updates
• Status monitoring

C. Reporting and Compliance

• Regulatory reporting
• Suspicious Transaction Reports (STRs)
• Analytics and statistics
• Secure data archiving
• Audit support

A. Regulatory and Technical Obligations

• Maintain all required licenses
• Comply with applicable laws
• Provide appropriate technical infrastructure
• Train staff on platform usage
• Apply best information security practices

B. Data Obligations

• Provide accurate and updated information
• Obtain client consent for processing
• Notify the platform of data changes
• Ensure legality of submitted data
• Avoid misleading information

C. Financial Obligations

• Pay service fees on time
• Cover additional service costs
• Pay late penalties if applicable
• Maintain updated billing details

• Encryption of stored and transmitted data
• Multi-factor authentication
• Secure backups
• 24/7 monitoring
• Periodic security audits