Know Your Customer (KYC) POLICY

In line with circular dated 17th October 2023 (Amendment) by Reserve Bank of India.

1. Introduction

This KYC Policy is crafted by PropFTX  to articulate the procedures and principles governing customer identification and verification in alignment with regulatory requirements as stipulated by the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), and other pertinent authorities. The paramount objective of this policy is to mitigate risks associated with money laundering, terrorist financing, and other illicit activities

2. Customer Identification Process

2.1. Customer Due Diligence (CDD): Customer identification will be rigorously performed, involving the verification of personal details, residential address, and pertinent particulars. For individuals, the accepted documents may include Aadhar cards, PAN cards, passports, voter IDs, or other government-issued identification. Non-individual customers shall provide incorporation documents, partnership deeds, or business-related documentation.

2.2. Enhanced Due Diligence (EDD): EDD protocols will be implemented for high-risk customers, transactions, or business associations, potentially requiring additional information and continuous monitoring. PropFTX may from time to time decide in accordance with government recommendations who will be categorized as “High Risk Customers”. Enhanced customer due diligence may be requested upon High-Risk Customers or any other category of Customers whom PropFTX may deem appropriate. 

2.3. Ongoing Monitoring: Continuous surveillance of customer transactions will be executed to detect suspicious activities, validate data accuracy, and periodically reassess customer risk profiles.

3. Reporting and Record-keeping

3.1. Suspicious Transaction Reporting: PropFTX is firmly committed to the timely reporting of suspicious transactions to the relevant authorities as per the stipulations of the Financial Intelligence Unit (FIU-IND).

3.2. Record-keeping: The company will maintain records of customer identification and transaction data for a minimum of five years post the conclusion of the customer relationship

4. Training and Awareness

4.1. Employee Training: We will ensure that employees receive comprehensive training on KYC policies and procedures to guarantee effective implementation.

4.2. Customer Awareness: Customers will be educated on KYC policies, their significance, and their role in upholding compliance with these policies.

5. Technology and Automation

PropFTX harnesses technology and automation to enhance customer identification and verification processes, facilitate risk assessment, and automate transaction monitoring.

6. Non-Compliance and Penalties

Non-compliance with this KYC Policy and related regulations may result in penalties, legal actions, and the potential termination of business relationships in accordance with applicable laws and regulations.

7. Foreign National KYC Requirement

In adherence to the laws and regulations of India, the listed Know Your Customer (KYC) details provided by customers are expected to comply with the statutory requirements applicable within the jurisdiction of India. The Platform currently is open only to citizens of India. Hence, all compliances as required under law shall be followed and the users shall cooperate accordingly. Foreign nationals residing in India are subject to a specific KYC process. As part of this process, we may request proof of residence, proof of indemnity, and any additional documentation deemed necessary for the purpose of residence in India. Additionally, proof of income may be required to fulfill KYC requirements. This is to ensure compliance with relevant regulations and maintain the integrity of our KYC procedures. Users are requested to provide the necessary documentation for a thorough and accurate KYC process

8. Blacklisted Countries Restriction 

Foreign residents, whether residing in India or outside, are prohibited from opening an account if their country of residence is listed on the Financial Action Task Force (FATF) blacklists. The list of blacklisted countries is based on the latest information provided by FATF and is subject to change. Individuals from countries identified on the FATF blacklists are not eligible for account registration until the country's status is revised and removed from the blacklist. We reserve the right to enforce this restriction in accordance with our policies and regulatory requirements. For the latest information on FATF black and grey lists, please refer to

9. Policy Review 

This KYC Policy will undergo periodic reviews and updates to ensure conformity with shifting regulatory standards and evolving risk factors. Any amendments will be communicated to employees and customers.


PropFTX is resolute in implementing robust KYC procedures to ensure the integrity of its business operations and unwavering compliance with Indian laws and regulations. This policy serves as the cornerstone for upholding the highest standards of transparency and security in all interactions with our valued customers.