Know Your Customer Policy

Last Updated: 17 Mar 2025

By implementing this KYC Policy, SolarBee.io aims to create a safer and more secure environment for our customers and to comply with our legal and regulatory obligations.

The terms mentioned herein, if not explicitly stated otherwise, have the same meaning as defined in the Terms and Conditions.

1. PURPOSE

This Know Your Customer (KYC) Policy establishes the principles and procedures that SolarBee.io will follow to verify the identity of its customers. The objectives of this policy are to:

• Prevent and mitigate the risk of fraud, identity theft, money laundering, and other financial crimes.

• Comply with applicable anti-money laundering (AML) laws and regulations in relevant jurisdictions.

• Enhance the security and integrity of our platform and transactions.

• Establish trust and confidence in our services.

2. SCOPE

This policy applies to all customers who register an account or make transactions on the SolarBee.io website. It outlines the procedures for collecting, verifying, and monitoring customer identity information.

3. CUSTOMER IDENTIFICATION PROCEDURES

SolarBee.io will implement the following Customer Identification Procedures (CIP) at different stages of the customer relationship:

• Account Registration: During the account registration process, customers will be required to provide certain personal information, which may include:

  • Full Name

  • Date of Birth

  • Email Address

  • Phone Number

  • Billing Address

• Transaction Thresholds (if applicable): For transactions exceeding 2000 EUR, additional verification may be required.

• Suspicious Activity: If any suspicious activity is detected, SolarBee.io reserves the right to request further identification documents and information from the customer.

4. CUSTOMER DUE DILIGENCE (CDD)

Depending on the assessed risk of the customer and the transaction, SolarBee.io may perform different levels of Customer Due Diligence (CDD):

• Standard Due Diligence: For most customers, Standard Due Diligence will involve verifying the information provided during registration against internal records and publicly available information.

• Enhanced Due Diligence (EDD): For customers identified as high-risk (e.g., based on their location, transaction patterns, or other risk indicators), Enhanced Due Diligence measures will be applied. This may involve:

  • Requesting additional identification documents (e.g., government-issued photo ID, utility bill).

  • Verifying the source of funds (if applicable).

  • Conducting more thorough background checks.

  • Ongoing monitoring of the customer's activity.

5. VERIFICATION OF IDENTITY

To verify the identity of our customers, SolarBee.io may employ one or more of the following methods:

• Document Verification: Customers may be required to submit electronic copies of valid government-issued identification documents, such as:

  • Passport

  • National ID Card

  • Driver's License

  • Utility Bill (for address verification)

• Data Verification: The information provided by the customer may be cross-referenced with third-party databases and identity verification services.

• Transaction Monitoring: Monitoring customer transaction patterns for unusual or suspicious activity that may indicate identity theft or fraudulent behavior.

• Other Reliable Sources: Utilizing other reliable sources and methods as deemed necessary to verify customer identity.

6. ONGOING MONITORING

SolarBee.io will implement ongoing monitoring of customer activity to identify any changes in risk profiles or suspicious behavior. This may include:

• Tracking transaction volumes and patterns.

• Monitoring login activity and IP addresses.

• Reviewing customer feedback and complaints.

• Periodically re-verifying customer information, especially for high-risk customers.

7. RECORD KEEPING

All customer identification data, verification records, and transaction monitoring information will be securely stored and retained for a period of  5 (five years) or as required by applicable laws and regulations.

8. DATA PRIVACY AND SECURITY

SolarBee.io is committed to protecting the privacy and security of customer data. All personal information collected for KYC purposes will be handled in accordance with our Privacy Policy and relevant data protection laws (e.g., GDPR). Secure methods will be used for data transmission and storage to prevent unauthorized access.

9. TRAINING AND AWARENESS

All employees involved in customer onboarding, transaction processing, and compliance are receiving adequate training on this KYC Policy and related AML regulations. Regular training is provided to ensure ongoing awareness and compliance.

10. POLICY REVIEW AND UPDATES

This KYC Policy will be reviewed and updated annually to ensure its continued effectiveness and compliance with applicable laws and regulations.

11. CUSTOMER COOPERATION

We appreciate your cooperation in providing the necessary information and documentation to help us verify your identity. This process is essential for protecting our community and ensuring a trustworthy platform. If you have any questions or concerns regarding our KYC procedures, please contact our customer support team at support@solarbee.io.