KYC Policy

Know Your Customer Policy

Our comprehensive customer identification and verification procedures to ensure secure and compliant banking services.

Last updated: September 10, 2025

Introduction

Riro Inc. ("Riro") is committed to maintaining the highest standards of customer due diligence and regulatory compliance. Our Know Your Customer (KYC) policy ensures that we properly identify and verify our customers, assess their risk profiles, and maintain accurate records in accordance with applicable laws and regulations.

Purpose of KYC

Our KYC procedures serve to:

  • Prevent money laundering and terrorist financing
  • Ensure compliance with regulatory requirements
  • Protect our platform and customers from fraud
  • Maintain the integrity of the financial system
  • Enable risk-based customer assessment
  • Support law enforcement investigations when necessary

Customer Identification Requirements

Personal Information

We require the following personal information:

  • Full legal name (as it appears on government-issued ID)
  • Date of birth
  • Nationality and country of residence
  • Current residential address
  • Phone number and email address
  • Occupation and source of income

Identity Verification Documents

Acceptable forms of identification include:

  • Government-issued photo ID (passport, driver's license, national ID)
  • Proof of address (utility bill, bank statement, lease agreement)
  • Proof of income (pay stubs, tax returns, bank statements)
  • Additional documents may be required based on risk assessment

Business Customers

For business accounts, we require:

  • Certificate of incorporation or business registration
  • Articles of association or bylaws
  • Proof of business address
  • Beneficial ownership information
  • Authorized signatory identification
  • Business license and permits (if applicable)

Verification Process

Document Verification

  • Automated document authenticity checks
  • Manual review by trained specialists
  • Cross-reference with government databases
  • Biometric verification where applicable

Identity Verification

  • Facial recognition technology
  • Liveness detection to prevent spoofing
  • Document photo comparison
  • Additional verification methods as needed

Address Verification

  • Utility bill verification
  • Bank statement confirmation
  • Government database cross-checking
  • Physical address validation

Risk Assessment

We conduct comprehensive risk assessments based on various factors:

Customer Risk Factors

  • Geographic location and jurisdiction
  • Occupation and business activities
  • Transaction patterns and volumes
  • Source of funds and wealth
  • Political exposure and sanctions
  • Previous banking relationships

Risk Categories

  • Low Risk: Standard verification procedures
  • Medium Risk: Enhanced due diligence
  • High Risk: Additional verification and monitoring
  • Prohibited: Account opening denied

Ongoing Monitoring

KYC is not a one-time process. We continuously monitor our customers through:

  • Transaction monitoring and analysis
  • Regular customer information updates
  • Sanctions and watchlist screening
  • Periodic risk reassessment
  • Adverse media monitoring
  • Regulatory database checks

Data Protection and Privacy

We are committed to protecting your personal information in accordance with applicable data protection laws. All KYC data is:

  • Encrypted during transmission and storage
  • Accessible only to authorized personnel
  • Retained only as long as legally required
  • Securely disposed of when no longer needed
  • Protected by strict confidentiality agreements

Customer Rights

As our customer, you have the right to:

  • Know what information we collect and why
  • Access your personal information
  • Request correction of inaccurate data
  • Understand our verification decisions
  • Appeal verification rejections
  • Request data deletion (subject to legal requirements)

Regulatory Compliance

Our KYC procedures comply with applicable laws and regulations, including but not limited to:

  • Bank Secrecy Act (BSA)
  • USA PATRIOT Act
  • Anti-Money Laundering (AML) regulations
  • Know Your Customer (KYC) requirements
  • General Data Protection Regulation (GDPR)
  • Local banking and financial services regulations

Contact Information

If you have questions about our KYC policy or need assistance with verification, please contact us:

Email: austine@riromonie.com
Support: austine@riromonie.com
Address: Riro Inc., 8 The Green, Ste A, in the City of Dover County, Delaware, USA.
Phone: +234 813 457 9812