1. Regulatory & Compliance Overview
Sailrich Pty Ltd is registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a Virtual Asset Service Provider (VASP) and Remittance Service Provider.
We operate in compliance with Australia’s Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) and relevant international regulatory standards, with robust risk management across our digital asset and remittance services.
2. Baseline Know Your Customer (KYC) Requirements
To comply with statutory AML/CTF obligations, all users must complete primary identity verification before accessing our VASP and remittance channels.
Standard Baseline KYC Documentation
- Proof of Identity (POI): A valid, unexpired government-issued photo ID, such as an international passport, national driver’s licence, or national identity card.
- Proof of Residential Address (POA): A proof of address document issued within the last 90 days, such as a utility bill, bank statement, or official government notice, that clearly matches the residential address provided.
- Contact & Liveness Verification: A verified mobile number, primary email address, and completed automated facial liveness checks.
3. Risk-Based Approach & Enhanced Due Diligence (EDD)
Notice Regarding Case-Specific Verification
The baseline documentation listed above represents the minimum requirement for initial account onboarding.
Sailrich applies a Risk-Based Approach (RBA) aligned with AUSTRAC standards. Depending on the nature of a transaction, transfer amounts, country-specific risk factors, or partner channel compliance evaluations, additional Enhanced Due Diligence (EDD) documents may be required on a case-by-case basis.
Supplementary individual requests may include, but are not limited to:
- Source of Funds (SOF) / Source of Wealth (SOW): Personal bank statements, payslips, tax returns, proof of asset liquidation, or inheritance documentation.
- Purpose of Transaction / Relationship Rationale: Supporting documents or written explanations detailing the underlying economic purpose of the transfer or virtual asset activity.
- Tax Residency & Secondary Address Verification: Proof of Tax Identification Number (TIN) or tax residency status, or a secondary proof of residential address.
- Occupation & Employment Verification: Proof of employment, official business ownership records, or professional background proof.
- Video Verification / Direct Compliance Interview.
4. Sanctions & Ongoing Transaction Monitoring
All transactions processed through our VASP and remittance platforms are subject to real-time screening against global sanctions lists, including UN, OFAC, and DFAT lists; Politically Exposed Persons (PEP) databases; and ongoing transaction monitoring for suspicious activity reporting.
5. Compliance Inquiries
For compliance assessments, case-specific documentation inquiries, or regulatory communications, please contact our Compliance Team:
Compliance Department Email: compliance@sailrich.com