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Know Your Customer (KYC) and Verification Overview

Ernora Pay
Effective Date: 11.06.2025

1. Introduction

At Ernora Pay (“Ernora Pay”, “we”, “our”, or “us”), we are committed to maintaining the security, integrity, and regulatory compliance of our services. As a registered Money Services Business (MSB), we are required to verify the identity of our customers in accordance with Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and related regulations.

This overview explains what Know Your Customer (KYC) means, why verification is necessary, and what customers may expect during the identification process.

2. Definitions

“KYC” (Know Your Customer) means the process of confirming a customer’s identity in order to assess risk and help prevent fraud, money laundering, and terrorist financing.

“Customer Due Diligence (CDD)” means the process of obtaining and reviewing customer information to confirm identity and evaluate risk.

“Enhanced Due Diligence (EDD)” means additional review and verification steps applied to higher-risk customers, business relationships, or transactions.

“PEP” (Politically Exposed Person) means an individual who holds, or has held, a prominent public position, as well as certain family members and close associates.

“Beneficial Owner” means the individual who ultimately owns, controls, or significantly influences a company, account, or transaction, even if not listed as the formal legal owner.

“Verification Documents” means identification records or supporting documents used to validate a person’s identity, address, or source of funds.

3. Why KYC Is Required

KYC procedures are necessary in order to:

  • comply with Canadian AML and CTF legal requirements;
  • detect and reduce the risk of fraud, identity misuse, and financial crime;
  • protect the integrity of the financial system;
  • allow Ernora Pay to continue offering secure and regulated services.

4. What We May Verify

We may verify the following information, depending on whether the customer is an individual or a business.

For Individuals

  • full legal name;
  • date of birth;
  • residential address;
  • valid government-issued photo identification, such as a passport or driver’s licence;
  • proof of address, such as a utility bill or bank statement;
  • source of wealth, where required.

For Businesses

  • legal business name and registration number;
  • information regarding directors and shareholders;
  • incorporation or registration documents;
  • identity of beneficial owners with significant ownership or control;
  • source of funds and nature of business activities.

5. How the Verification Process Works

Our verification procedures may include one or more of the following steps:

Document collection: customers may be asked to upload or submit identification documents and proof of address through a secure channel.

Biometric or liveness checks: some customers may be required to complete a live photo or video verification step in order to confirm that the identification belongs to them.

Database and record checks: we may verify information using reliable independent sources, third-party providers, or official databases where permitted.

Ongoing review: we may periodically request updated information or reconfirmation of previously submitted details as part of our compliance obligations.

6. Enhanced Due Diligence (EDD)

Additional verification measures may be required in higher-risk situations, including but not limited to:

  • large or unusual transactions;
  • customers identified as foreign or domestic politically exposed persons;
  • customers connected to higher-risk jurisdictions;
  • complex corporate ownership or control structures.

In such cases, Ernora Pay may request extra documentation and may conduct additional source-of-funds and/or source-of-wealth checks.

7. Data Privacy and Security

Personal information collected during the KYC and verification process is handled in accordance with our Privacy Policy and protected through appropriate technical and organizational security measures. We do not sell customer personal information and do not use it for unauthorized purposes.

8. Need Assistance?

If you have questions about the verification process or require help completing KYC checks, please contact us:

Ernora Pay
7404 King George Blvd., Suite 200
Surrey, Canada
MSB number: M23468645
Email: support@ernorapay.com