KYC / AML Policy for Billzy

Know Your Customer (KYC) and Anti-Money Laundering (AML) Policy

At Billzy, we are committed to providing a secure and compliant platform for our users while adhering to Australian regulations. As part of our efforts to safeguard against illegal activities such as money laundering, terrorist financing, and other forms of financial crime, we have implemented a robust Know Your Customer (KYC) and Anti-Money Laundering (AML) policy in accordance with the relevant Australian laws and standards.

1. Legal Framework

Billzy operates under the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act 2006 and related regulations, as enforced by the Australian Transaction Reports and Analysis Centre (AUSTRAC). We are required to implement KYC and AML practices to identify and verify our customers, monitor transactions, and report any suspicious activity.

2. Customer Identification Process (KYC)

We collect information about our customers because we are required or authorised by law to collect it. There are laws that affect financial institutions, including company and taxation law, which require us to collect this information. For example, we require business and personal information to verify the identity of our customers under Commonwealth Anti-Money Laundering law.

The KYC process includes:

1. Individual Customers:
   • Full Name
   • Date of Birth
   • Residential Address
   • A copy of a valid government-issued identification document (e.g., passport, driver’s licence)
2. Business Customers:
   • Business Name
   • Australian Business Number (ABN) or Australian Company Number (ACN)
   • Registered Business Address
   • Information about company directors and shareholders
   • Proof of business registration documents

Billzy uses secure electronic verification systems to validate the information provided. If necessary, we may request additional documentation or conduct enhanced verification.

3. Ongoing Monitoring

In addition to verifying customer identities at the time of account creation, we continuously monitor transactions to detect any unusual or suspicious activity. This includes:

1. Transaction Monitoring: We review and analyse transactions to identify potential money laundering, terrorist financing, or other illegal activities.
2. Risk-Based Approach: Customers and transactions are assessed based on risk factors such as the size and frequency of transactions, geographical risk, and the nature of the business or activity.
3. Suspicious Activity Reporting: If we identify any suspicious transactions or activities, we are required by law to report them to AUSTRAC. We may also request additional information from customers as part of this process.

4. Enhanced Due Diligence (EDD)

For higher-risk customers or transactions, Billzy implements Enhanced Due Diligence (EDD) measures. Higher-risk customers may include politically exposed persons (PEPs), customers from high-risk jurisdictions, or customers involved in complex or unusual transactions.

These may include:

1. additional identity verification;
2. source of funds and wealth inquiries;
3. more frequent monitoring of transactions;
4. enhanced reporting obligations to AUSTRAC.

EDD applies to customers or transactions that are deemed to present a higher risk of money laundering, terrorism financing, or other financial crime.

5. Privacy and Data Protection

Billzy is committed to protecting your privacy and ensuring the confidentiality of customer information. All data collected as part of the KYC process is securely stored and handled in accordance with the Privacy Act 1988 and the Australian Privacy Principles (APPs). Customer information will not be shared with third parties unless required by law or with the customer’s consent.

6. Compliance with Sanctions

Billzy complies with Australian and international sanctions regimes, including those administered by the Department of Foreign Affairs and Trade (DFAT) and the United Nations. We screen all customers against relevant sanctions lists and take necessary action to ensure compliance.

7. Customer Responsibilities

As part of using Billzy’s services, customers must provide accurate and up-to-date information during the KYC process and promptly notify Billzy of any changes to their details. Failure to comply with these requirements may result in restricted access to Billzy’s services or the suspension of accounts.

8. Penalties for Non-Compliance

Under Australian law, failure to comply with KYC and AML regulations can result in significant penalties, including fines and criminal charges, for both the organisation and individuals involved. Billzy is committed to fully complying with all regulatory requirements and cooperating with authorities in the event of an investigation.

9. Contact Us

If you have any questions regarding our KYC and AML policy or require further information, please contact us at compliance@billzy.com.

10. Policy Updates

This policy is subject to change in accordance with regulatory updates and improvements to our compliance procedures. Customers will be notified of any significant changes to the policy.

Billzy’s KYC and AML practices are designed to provide a safe, compliant, and trustworthy environment for all our users while ensuring that we meet our regulatory obligations under Australian law.

Updated 11 March 2026