ArtHub has formulated a Know Your Customer (KYC)
policy, referred here as “KYC policy”, based on the criteria/guidelines
specified in the requirements and obligations set out in Nigeria and
international legislations, regulations, rules and Industry Guidance, including
the need to have adequate systems and controls in place to mitigate the risk of
the firm being used to facilitate financial crime.
For purposes of this KYC Policy, “us,” “we,” “our,”
“ArtHub” or “arthub.ng” refer to the website https://arthub.ng/ and related
Our Know Your Customer Policy (hereinafter referred
to as “KYC Policy”) is designated to prevent and mitigate possible risks of users
being involved in any kind of illegal activity.
The scope of our KYC policy cover reasonable
measures established to know about the users of our services (Customers and
Verification is an integral part of KYC measures with
which ArtHub takes to properly collect and manage the identity of its users.
One of the international standards for detecting and
preventing illegal activity is customer due diligence (“CDD”). In accordance
with CDD, ArtHub has established mandatory user verification procedures within
the standards of KYC frameworks.
As a condition of verification and the use of the ArtHub
services, ArtHub reserves the right to require users to provide us with information,
documentation and/or scans/photographs as applicable in compliance with our
regulatory obligations. Such as:
Personal email address.
Personal phone number.
First name and last name.
Date of birth.
document (ID)– This is a valid,
reliable and independent source document issued by a federal, provincial,
territorial or state government authority. It must include the following
information: First name and last name;
date of birth; gender; place of birth; date of birth; issuing country;
customer's photo, ID serial number and date of issue. ID should be valid
due to the issue date. User is free to provide scanned copies (both front and
back sides) of one of the following types of identity documents: National Passport, International Passport,
Driver’s License or National Identity Card.
All legal methods for verification of the provided
identification information will be used by ArtHub. ArtHub reserves the right to
verify the user's identity on an on-going basis, especially when provided
identification information has been changed or the user’s activity is deemed as
suspicious or anomalous (unusual for the particular user). In addition, ArtHub
reserves the right to request up-to-date scanned copies of documents from any
registered user, even if the user has completed identity verification in the
of address — This is an official document which confirms the
user's residential address and includes the user’s first name and last name,
residential address and issued within the last 3 months. User is free to
provide scanned copies of any of the following types of documents: utility
bill; electricity bill; bank statement; tax return; council tax; other official
document with current residential address, first name and last name and issued
within the last 3 months.
All required scanned/copied documents should be
provided in good quality, all texts should be readable, there should not be any
modifications or edits of the document scans/photos, otherwise we would have to
reject them and request new copies without modification or in better quality.
We reserve the right to reject any person on
registering on our website and using related services if we are unable
to verify any information due to non-cooperation of the customer, or if
customer's actions are likely to have a material adverse effect on us for being
in violation of any applicable laws or industry best-practice guidelines. We
will also reject and terminate any relationship with any person who is a
subject of sanctions (financial and others) of any country of the world as well
as any international respected organization.
Updating and Retention
KYC should not be contemplated as a one-time
exercise at the time entering into relationship with the Users. It should be
viewed as an on-going process.
ArtHub shall keep records regarding the
identification data obtained through the customer due diligence process (e.g.
copies or records of official identification documents like passports, identity
cards, driving licenses or similar documents) account files and business
correspondence for at least 5 (five) years after the business relationship is
ArtHub shall maintain all necessary records of
transactions, both domestic and international for at least five (5) years after
completion of the transactions or such a longer period as may be required.
Records of all suspicious transactions shall be kept for the same period.
KYC Policy is revisited periodically and amended
from time to time based on prevailing industry standards and international
regulations designed to facilitate the prevention of illicit activity,
inclusive of money laundering and terrorist financing. We recommend that you
regularly check for changes and that you review our KYC Policy when visiting
our website. If you do not agree with any aspect of the updated KYC Policy, you
must notify us promptly and cease using our services.
By registering as a user on our website, you consent
to the terms of this KYC Policy without any exclusions or reservations. For further
details, please read through our Terms and Conditions