To Our Clients and Potential Clients
In accordance with Section 326 of the USA Patriot Act of 2002, which require WWC to help the government fight the funding of terrorism and money laundering activities, WWC is required to obtain basic identifying information from you and verify that information when you open a new account. This means our staff will ask you for some basic information to help us identify you. WWC staff will also ask to see documents identifying you such as a social security card, driver’s license, passport, and/or some other government-issued document.
In some cases, identification will be requested for those individuals conducting business with WWC prior to the effective date of the member identification requirements. This is because original documentation was not obtained with the opening of the account or WWC is unable to form a reasonable belief that it knows the true identity of the existing account holder.
In all cases, protection of our member’s identity and confidentiality is our pledge to you. We appreciate your patience and understanding as we all do our part in complying with the new account identification procedures required by the federal USA Patriot Act of 2001. Prior to assigning any new client account we must perform our due diligence in connection with WWC “Know Your Customer Procedures”.
Know Your Customer (KYC) requirement under Prevention of Money Laundering Act, 2002Member Notice:Pursuant to the USA Patriot Act, Section 326, WWC is required to verify the identity of individuals applying for membership and opening new accounts or services with us. Additional data may also be gathered depending on the type of account to be opened. Data on existing members may be gathered as an additional product or service is requested. The USA Patriot Act also requires WWC to maintain all records of any documentary evidence used for verifying the member for at least five years after the date an account is closed. Confidentiality of the information maintained by us will be maintained as required under our Privacy & Security policy.
To obtain a copy of the USA Patriot Act in its entirety please visit: http://www.fincen.gov/statutes_regs/patriot/
USA Patriot Act [Section 326]
Important InformationNOTE: To approach any of the official point of acceptance of transactions, a KYC form must be completed. For your convenience, we have attached herewith the KYC Application form. We request you to fill in the details and provide the certified copy of supporting documents as stated in the Form.
Please feel free to call us or email us at compliance for any query on KYC requirements.