Crand KYC

CRAND KYC (KNOW YOUR CUSTOMER) POLICY

Updated July 2025

OVERVIEW

This KYC Policy enables Crand Technologies to verify an individual's identity information using their personal details, the Identification number from one of our supported Identity Types and Prevent the use of Crand’s services for money laundering, terrorist financing, fraud, or other illicit activities and also ensure compliance with applicable laws, including but not limited to NDPR, CBN AML/CFT Regulations, FATF guidelines.

SCOPE

This policy applies to All customers (individuals and corporate entities), All products, services, and channels offered by Crand Technologies and all employees, agents, and contractors involved in onboarding and transaction monitoring.

CUSTOMER IDENTIFICATION PROCEDURES (CIP)

Before establishing a relationship with, Crand Technologies will request the following for verification:

If you had selected the Individual account type during your registration, you will be required to provide;

Full name; Date of birth; Residential address; Government-issued ID (e.g., National ID, Passport, Driver’s License); Phone number and email address; and Facial or biometric verification where applicable.

If you had chosen the Registered Business account type during your registration, select contact information and enter your first name, last name and phone number of a primary contact person at the organization.​ Select Business Registration and provide your Know Your Customer (KYC) documents and information for verification.
Choose your business class, provide the Tax Identification Number of your business and upload the specified documents (i.e. Registered business name and address; Certificate of incorporation or registration.; Memorandum and Articles of Association; Board resolution authorizing the account opening; and Identification and verification of directors, significant shareholders, and authorized signatories).

CUSTOMER DUE DILIGENCE (CDD)

KYC information shall be collected before onboarding and periodically updated.

Transaction monitoring shall be conducted to ensure activities align with the customer’s profile.

Unusual or suspicious transactions shall be reported to the Compliance Officer for escalation to relevant authorities.

RETENTION

KYC and transaction records shall be retained for a minimum of [5–10] years after the end of the business relationship, in compliance with applicable

regulations.

Records should be easily retrievable upon request by regulators or law enforcement agencies.

DATA PRIVACY

Customer data collected under this policy shall be handled in compliance with the Nigerian Data Protection Regulations (NDPR).

Information will be used solely for compliance and shall not be shared without lawful justification.

TRAINING

All employees shall receive periodic training on KYC procedures, red flags for suspicious transactions, and their roles in AML/CFT compliance.

Compliance Officer: Responsible for policy implementation, monitoring compliance, and reporting suspicious transactions.

Frontline Staff: Responsible for initial collection of KYC documents and ensuring completeness.

Senior Management: Responsible for approving the KYC Policy and ensuring resource allocation for effective compliance.

REVIEW AND UPDATES

This KYC Policy shall be reviewed annually or upon material regulatory changes to ensure its continued effectiveness and compliance with applicable laws.

Updated July 2025