As an AUSTRAC registered exchange, we must apply customer identification procedures to all of our customers. Specifically, to ensure that we abide by our strict obligations set out by the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 (Cth), we also run 24/7 transaction monitoring programs. 

If your account has been flagged by our system, we may be restrict your withdrawals until you have completed our KYC 2 form. This requires you to provide a higher level of information about the purpose of your account and how you have sourced the funds deposited into your Swyftx account. Whilst we understand that these types of questions are invasive by nature, they are necessary to provide our customers with an exchange service that is free from fraud and bad actors.

The compliance risk we take on as a platform that facilitates outgoing cryptocurrency transactions is unique, which mandates our KYC procedures to be more stringent than most are used to in other financial endeavours.

Why have I been selected?
Whilst we cannot reveal how our transaction monitoring programs operate, we can guarantee you that they are programmed to act impartial and free from bias. As such, if you have been asked to complete a KYC Lvl 2 form, please remember that you are not being accused of committing any offence. 

How secure is my information?
We don't collect your data for any purpose other than our own reporting obligations. Specifically, all information is collected in accordance with our privacy policy that can be viewed on our website at:

How to complete this verification?

To complete this one you can navigate to the Verification section, underneath Profile on the left hand menu, and click on the lock that appears on the verification page. This will redirect you to the form you need to fill out in order to complete this verification.

A link will be provided below if you'd like to further pursue our Ongoing customer Due diligence requirements that are regulated by AUSTRAC.

Further Questions?
If you would like any further information on our KYC processes, please don't hesitate to get in contact with us via live-chat.

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