KYC/AML disclosure

Draft legal information, pending counsel review before launch. Transaction-specific agreements and applicable law determine the parties’ rights and obligations.

Overview

MarineClose records identity documents and review status to support deal preparation, not to certify regulatory compliance. Its regulated role, reporting duties and any required provider program remain subject to counsel and provider confirmation before live use.

Why KYC/AML matters

High-value vessel transactions are subject to regulatory oversight. Our KYC/AML procedures help:

  • Verify the identity of all transaction parties
  • Prevent fraud and identity theft
  • Determine applicable requirements with qualified advisers
  • Reporting and confidentiality duties depend on applicable law and the role of each participant or provider. Counsel must confirm MarineClose’s obligations and any required program before launch. This disclosure neither asserts a MarineClose SAR regime nor claims an exemption; automated screening and ongoing monitoring are not activated.
  • Protect the maritime industry's reputation

Verification requirements

Confirm identity and authority requirements for the transaction with the relevant advisers and service providers before consequential actions. Preparing a draft does not establish verification. The documents below are examples; applicable requirements and review must be confirmed.

For individuals

  • Government-issued photo ID (passport, driver's license, national ID)
  • Proof of address (utility bill, bank statement dated within 3 months)
  • A selfie may be requested for manual comparison (automated facial verification is not connected)
  • Source of funds documentation for high-value transactions

For businesses

  • Certificate of incorporation or business registration
  • Articles of association or operating agreement
  • Proof of business address
  • Identification of beneficial owners (25%+ ownership)
  • Director and authorized signatory identification

Verification process

  1. Submit required documents through our secure portal
  2. Submissions are queued for manual document review; arrangements are confirmed per deal
  3. Additional information may be requested if needed
  4. Review timing is confirmed per deal and is not guaranteed
  5. You'll receive confirmation once approved

Monitoring and screening status

Automated identity verification is not connected, and sanctions screening, PEP checks and ongoing monitoring are not activated. A manual document review does not certify that any of these checks were performed. Parties remain responsible for their own legal and regulatory checks. Current status:

  • Sanctions and politically exposed person (PEP) screening: not activated on the platform
  • Transaction pattern analysis: not activated
  • Ongoing monitoring and periodic review of user information: not activated
  • Enhanced due diligence for high-risk transactions

Reporting obligations

Reporting and confidentiality duties depend on applicable law and the role of each participant or provider. Counsel must confirm MarineClose’s obligations and any required program before launch. This disclosure neither asserts a MarineClose SAR regime nor claims an exemption; automated screening and ongoing monitoring are not activated.

Data protection

Submitted identity records are subject to access controls and any applicable preservation duties. The final retention schedule, legal basis and provider arrangements require counsel review before launch. See our Privacy Policy for more details.

Frequently asked questions

How long does verification take?

Documents can be submitted for manual review. Review timing and arrangements are confirmed for each deal; no turnaround time or staffed availability is guaranteed.

What if my verification is declined?

You'll receive an explanation and instructions for re-submission. Contact our support team if you need assistance.

Is my information secure?

We use technical and organizational measures intended to protect submitted documents and personal information. See the Privacy Policy for more detail.

Contact

For questions about our KYC/AML policies, contact contact@marineclose.com.