The KYC procedure must be completed by a user if they deposit more than (INR 25000) over the course of a lifetime or request a withdrawal of any amount on the https://freestrike.in/ platform. This process is required by the company and requires the user to provide some basic information about themselves, as well as upload some documents.
In accordance with this policy, Newhatch Associates Private Limited confirms that its business practices and transactions will take all necessary measures to prevent money-laundering and financing terrorism. Essentially, money laundering refers to making up false identities and concealing the fact that a financial transaction was financed by criminal activity. A terrorist act is anything that has the purpose of encouraging, planning or engaging in terrorism, or all of these acts are financial support.
In order to combat money laundering and the funding of terrorism, Newhatch Associates Private Limited has implemented Know Your Counterparty (KYC) procedures. With the help of these procedures, we are able to identify every organization with which we do business, to critically assess the legitimacy of the business relations we have with them, and to detect and react to anything that is strange or suspicious.
It is the responsibility of Newhatch Associates Private Limited to develop and implement this policy and the relevant procedures in order to comply with KYC requirements. In addition, Newhatch Associates Private Limited commits to reviewing our KYC policy and procedure annually.
We at Newhatch Associates Private Limited have developed KYC forms to support the KYC policy and procedures and we are sending them to all of our counterparties (these are our business partners: suppliers and customers) so that they are able to gather relevant information regarding our business relationships in order to identify the risks of money laundering. Every existing and new counterparty is required to fill out the form in the same manner.
By collecting and reviewing the information in completed KYC forms, Newhatch Associates Private Limited commits to
Once uploaded, the user will get a “Temporarily Approved” Status and the documents will now be on our side, and the “KYC Team” will have 24hrs to go over them and email the user about the outcome: