Who you are, proven once, protected always

1. Introduction

Knowing who is on the platform and watching how it is used are the two disciplines that keep it clean: real people, lawful funds. The checks cut identity fraud, shield legitimate accounts from impersonation and satisfy Australia's prevention laws. There is a dividend for the honest majority as well: verification is why opening and maintaining an account can cost nothing, since fraud losses are stopped at the door instead of priced into everyone's fees.

2. What KYC is

The set of checks confirming you are who you claim to be. Registration details are compared with official documents and tested for validity, currency and internal consistency. It runs once per account and only revisits a core detail that changes.

3. What AML/CTF is

The battery of measures against illicit money: per-client risk rating, continuous transaction monitoring and reporting of suspicious activity to AUSTRAC where Australian law requires it.

4. Why verification is mandatory

Because it is what prevents your identity being worn by someone else, blocks accounts opened on stolen details and keeps the platform lawful. A practical bonus worth knowing: a verified account settles any future request, from an email change to access recovery, in minutes

A candid word on pacing: verification is not instant by design, and the manual window exists so a person can weigh edge cases properly rather than a system guessing at them; the automatic stage settles the majority in minutes, and for the rest the short wait purchases a decision that will not need unwinding.

instead of days.

5. Documents required

Identity: a current passport, driver licence or proof-of-age card, front and back, original not photocopied. Address: a utility bill or bank statement in your name from the last three months. Where requested, a short selfie video holding the document proves live presence at submission time.

Nothing beyond that list is ever requested. Unreadable image? Retake it with more light, no glare and the full document in frame. Scam-awareness note: documents upload through the dashboard's own field only, never an external link or chat; a self-styled "analyst" holding a meeting link to collect documents is running a known con.

6. The verification process

Five stages: registration; document upload; automatic validity and consistency checks; human review only for minor discrepancies; and email confirmation with the status on your dashboard. Most cases finish at the automatic stage within minutes.

Three statuses, one rule: "pending" means your move, "in review" means ours, "complete" means clear. While a case is in review there is nothing to chase, and extra document requests only

Guard against impostors here too, because fake "analysts" collecting documents over meeting links are an established con: uploads happen in the dashboard field or nowhere, and any doubt about a request is settled by writing to the official address before acting on it.

ever arrive through the dashboard or the official email address, never a third channel.

7. Enhanced due diligence (EDD)

Larger or unusual profiles receive enhanced checks: evidence of source of funds, extra documents or a brief video call. Triggers include volumes far above the norm, atypical activity patterns or partial sanctions-list matches. EDD alarms the people who receive it, so plain words: it is not an accusation but a deeper look, standard at every serious institution

On what "source of funds" means concretely, since the phrase intimidates: a payslip, a sale contract, a tax return or statements showing the deposit accumulating, one document naming the origin usually closing the question, with nothing kept beyond the retention rules already covering the rest of the file.

for bigger volumes, and clearing it usually means producing paperwork most people already have, a payslip, a sale contract or a statement showing the funds building up.

8. Timeframes

Automatic stage: minutes. Manual review: one to two business days. Peaks, public holidays and re-uploads can extend the window, always reflected live on the dashboard, so an email asking "how is it going" is never necessary: the answer is on your screen.

9. Reasons for refusal

Expired or unreadable documents; form details contradicting the document; suspected alteration; refusal to provide requested information; relevant sanctions matches. Each refusal states its reason and its fix, and the honest statistic is that most are crooked photos or clipped edges, cured by a single clean re-upload. Alteration suspicions are rare and receive

Refusal statistics in the open: the overwhelming share are crooked photos or clipped document edges cured by one clean re-upload, suspicion of alteration is rare and always goes to second-instance human review, and every refusal letter carries both the reason and the exact correction path, never one without the other.

second-instance human review with your right to respond.

10. Transaction monitoring

Deposits and withdrawals are watched continuously. Behaviour far from the declared profile, sudden value jumps or rapid in-and-out cycling, prompts review and can limit account functions until clarified. The lens is statistical, never moral: what is measured is the distance between the profile you described and the way the account actually behaves.

11. User responsibilities

Supply true, complete, current details and keep them that way, moving a new address or phone into the account the same week it changes. False information can suspend the account and, where the law says so, trigger the required notifications. Operating only your own lawful funds and never lending account access to anyone else are equally your obligations.

12. Storage and protection

KYC documents sit encrypted, access-restricted, retained as long as Australian law requires. The full treatment of personal data is in the Privacy Policy, which governs anything this page leaves uncovered.

13. Data sharing

Verification runs through contracted KYC and technology providers acting under processor obligations of confidentiality. Data may also reach operationally related group companies and regulators or authorities, including AUSTRAC, on a valid legal basis. Verification data is never sold to anyone, full stop.

14. Compliance basis

Quantum Yellow aligns its KYC/AML/CTF procedures with Australian law, including AUSTRAC guidance on money laundering and terrorism financing prevention, keeps verification records for the required periods and reviews the whole framework annually against an independent audit.

15. Contact

Questions about this policy or your verification: [email protected]. The Client Support & Compliance team answers KYC/AML queries first in the queue, normally within the first business day.