AML/KYC Policy
Last Updated: December 2025
1. Our Commitment
OpenHouse Technologies LTD is committed to preventing money laundering, terrorist financing, and other financial crimes. We comply with:
The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (as amended)
The Proceeds of Crime Act 2002
The Terrorism Act 2000
Financial Action Task Force (FATF) recommendations
FCA guidance on cryptoassets and financial crime
2. Customer Due Diligence (CDD)
2.1 When Verification is Required
All users must complete identity verification before:
Purchasing property tokens
Claiming rental distributions
Withdrawing funds from the Platform
Making transactions above applicable thresholds
2.2 Standard Verification
We collect and verify the following information:
Personal Information:
Full legal name
Date of birth
Residential address
Nationality
Identity Documents (one of):
Valid passport
National identity card
Driving licence
Proof of Address (one of):
Bank statement (dated within 3 months)
Utility bill (dated within 3 months)
Government correspondence
2.3 Enhanced Due Diligence (EDD)
Additional verification is required for:
High-value transactions (thresholds vary)
Politically Exposed Persons (PEPs)
Customers from higher-risk jurisdictions
Complex or unusual transaction patterns
Source of funds verification
3. Verification Process
Identity verification is conducted through our partner Persona, a regulated identity verification provider. The process typically involves:
Submitting identity documents
Taking a selfie for biometric matching
Automated document and identity checks
Manual review where required
Verification is usually completed within minutes but may take up to 48 hours for manual review cases.
4. Ongoing Monitoring
We continuously monitor for:
Suspicious transaction patterns
Changes in customer risk profile
Sanctions list matches
Unusual activity or behaviour
Negative news or adverse media
5. Sanctions Screening
All users are screened against:
UK HM Treasury sanctions lists
EU consolidated sanctions list
UN Security Council sanctions list
OFAC (US) sanctions list
Other relevant sanctions databases
Screening is performed at onboarding and on an ongoing basis.
6. Suspicious Activity Reporting
We are legally required to report suspicious activities to the National Crime Agency (NCA) via Suspicious Activity Reports (SARs).
Important: We cannot inform you if a report has been made about your account. This is known as "tipping off" and is a criminal offence.
7. Record Keeping
We retain all CDD records and transaction data for a minimum of 7 years after the business relationship ends, as required by law.
8. Your Obligations
As a user of OpenHouse, you must:
Provide accurate and truthful information
Update us promptly of any changes to your details
Not use the Platform for any illegal purposes
Cooperate with verification requests
Not attempt to circumvent our controls
Failure to comply may result in account suspension or termination.
9. Restricted Activities
The following activities are prohibited:
Money laundering or terrorist financing
Sanctions evasion
Tax evasion
Fraud or market manipulation
Using false or stolen identities
Structuring transactions to avoid reporting thresholds
10. Training and Governance
Our staff receive regular training on:
Identifying suspicious activity
CDD procedures
Sanctions compliance
Reporting obligations
We maintain a designated Money Laundering Reporting Officer (MLRO) responsible for oversight of our AML programme.
11. Contact
For questions about our AML/KYC procedures:
Email: legal@openhouse.finance
Address: 106 Flat 6, Lower Road, Hullbridge, Hockley, England, SS5 6DD
Last updated