Required Identity Policy Statements

Know Your Customer

Policy: BABYLON ensures that all documents used to prove identity are both current and in the required format approved under the Regulations to the ACT, Babylon takes reasonable measures to keep customer identification information up to date for individuals and entities.

About the Identification

When customer identification is required; only original and current documents must be shown using any one of the following:

• Drivers license
• Passport (any country)
• Similar record issued by a provincial or the federal government (e.g., citizenship card, permanent residence card)
• Birth certificate
• Health cards are not to be used if they are issued by the provinces of Ontario, Manitoba, or Prince Edward Island

The Non-Face-To-Face Customer

Policy: “All necessary measures and practices are in place and maintained to ensure that BABYLON meets all non-face-to-face customer identity requirements set down under the Regulations to the ACT.
BABYLON will ensure that all documents used to prove identity are both current and in the required format approved under the Regulations to the ACT.”

Suspicious Transactions

Policy: “BABYLON has put in place a process for identifying those suspicious or attempted financial transactions that according to the legislation demonstrate … reasonable grounds to suspect that the transaction or attempted transaction is related to the commission of a money laundering or a terrorist financing offence.”