KYC & AML Policy
(Last updated: 1/12/2025)
Introduction
This KYC & AML Policy explains how OWNIFY.ae (“Ownify”, “we”, “us”, “our”) complies with applicable Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), and Know Your Customer (KYC) requirements in the United Arab Emirates.
By creating an account or investing through Ownify, you agree to provide accurate information and cooperate with all KYC/AML checks described in this Policy.
Company Name: OWNIFY.ae
Registered Address: Ayuu Fashion Building, Next to Courtyard Marriott Inn,
P.O. Box 3838, Hamdan Street, Abu Dhabi, United Arab Emirates
Contact Email: info@ownify.ae
Purpose of this Policy
The objectives of this Policy are to:
• Prevent Ownify and its SPVs from being used for money laundering or terrorist financing.
• Ensure we properly identify and verify our investors.
• Comply with applicable UAE laws, regulations, and guidelines on AML/CTF and KYC.
• Protect our investors and the integrity of the Ownify platform.
Scope
This Policy applies to:
• All users and investors who register or invest through Ownify.
• All transactions, including deposits, investments, distributions, and withdrawals.
• All SPVs and structures created and managed as part of the Ownify platform.
Customer Due Diligence (KYC)
Before you can invest, we are required to perform Customer Due Diligence (CDD), also known as KYC.
We may request some or all of the following information and documents:
For individuals:
• Full name
• Date of birth
• Nationality
• Residential address
• Valid identification document (Emirates ID or Passport)
• Contact details (email and mobile number)
For certain cases (e.g. higher-risk profiles, large investments), we may request additional documents such as:
• Proof of address (utility bill, tenancy contract, bank statement, etc.)
• Proof of income or employment
• Proof of Source of Funds / Source of Wealth
Source of Funds and Source of Wealth
Where required, we may ask you to provide information and evidence on how your investment funds are generated. This may include:
• Salary slips or employment contracts
• Bank statements
• Business ownership or company documents
• Investment portfolio statements or other financial records
If you are unable or unwilling to provide satisfactory evidence, we may refuse or restrict your use of the Ownify platform.
Verification and Ongoing Monitoring
We may use both internal checks and external service providers to verify your identity and documents.
Ownify also applies ongoing monitoring, which may include:
• Reviewing transactions for unusual or suspicious activity.
• Requesting updated KYC documents from time to time.
• Reviewing investments that exceed certain thresholds.
We reserve the right to pause, delay, or decline transactions and withdrawals if additional verification is required.
Risk-Based Approach
Ownify uses a risk-based approach to AML and KYC. Different customers and transactions may be classified as low, medium, or high risk based on factors such as:
• Country of residence or nationality
• Size and frequency of investments
• Type and pattern of transactions
• Source of Funds and Source of Wealth
• Whether the customer is a Politically Exposed Person (PEP)
Higher-risk customers may be asked to provide additional information or may be subject to enhanced due diligence.
Politically Exposed Persons (PEPs) and Sanctions
We screen customers against applicable sanctions lists and PEP databases.
Ownify may:
• Refuse to onboard certain individuals or entities.
• Restrict or close accounts if a customer appears on a sanctions list or presents an unacceptable level of risk.
We are not obliged to disclose the details of our screening results or internal risk assessments.
Suspicious Activity and Reporting
If we identify activity that may be suspicious or potentially related to money laundering, fraud, or terrorist financing, we may:
• Request additional information and supporting documents from you.
• Delay, freeze, or refuse a transaction.
• Report the activity to the relevant authorities in the UAE, in accordance with applicable laws.
We are not permitted to inform you if a formal report has been filed with a regulator or law-enforcement body.
Record Keeping
Ownify keeps KYC and transaction records for the period required under applicable UAE laws and regulations.
This may include:
• Copies of identification and verification documents.
• Records of transactions, contracts, and communications.
• Internal risk assessments and monitoring logs.
After the retention period expires, records will be securely deleted or anonymised where legally permissible.
Data Protection
All personal data collected for KYC and AML purposes is handled in accordance with our Privacy Policy.
We only share your information with:
• Service providers who assist with identity verification, payments, or compliance.
• SPV administrators, custodians, and other professional partners.
• Regulators or authorities, where required by law.
For full details on how we collect, use, and protect your personal data, please refer to the Ownify Privacy Policy available on our website.
Your Responsibilities as an Investor
By using the Ownify platform, you agree to:
• Provide accurate, complete, and up-to-date information.
• Promptly update us if your personal details change.
• Cooperate with all KYC, AML, and verification requests.
• Not use Ownify or any SPV structure for any illegal or prohibited activity.
If you fail to comply, Ownify may:
• Refuse to open or maintain your account.
• Restrict, pause, or terminate your ability to invest.
• Report your activity to relevant authorities where required.
Changes to This Policy
We may update this KYC & AML Policy from time to time to reflect legal, regulatory, or operational changes.
The latest version will always be available on our website and the “Last updated” date above will reflect the current version.
Contact Us
If you have questions about this KYC & AML Policy or our compliance processes, you may contact:
OWNIFY
Email: info@ownify.ae
Phone: +971 56 815 1377