KYC and AML: why an exchanger asks for documents and a selfie

What KYC is

KYC (Know Your Customer) is identity verification. It usually includes:

• an ID card or passport;
• a selfie or short video matched against the document;
• a phone number and email;
• sometimes proof of address or source of funds for large amounts.

What AML is

AML (Anti-Money Laundering) is a set of measures against money laundering. In Kazakhstan its requirements are set by the law on countering the legalisation of criminal proceeds, supervised by the Financial Monitoring Agency.

For the customer, AML means the exchanger may:

• ask where the money came from for large amounts;
• screen a wallet address for links to fraud or sanctions;
• refuse or pause a deal pending checks.

Why "no verification" is dangerous

A licensed operator cannot work without KYC. If a service promises exchange without documents, it either has no license or plans to disappear with your money. Check the company in the NBK registry.

How to protect your data

1. Upload documents only on the exchanger's official website, verified against the registry.
2. Never send passport photos via Telegram or WhatsApp, even to a "support manager".
3. Enable two-factor authentication on your exchanger account.

Related lessons: card blocks and how to choose an exchanger.

FAQ

What is KYC?

Know Your Customer: identity verification with an ID, a selfie and sometimes an address. Banks, exchanges and licensed exchangers all do it.

What is AML?

Anti-Money Laundering. The exchanger monitors suspicious operations and may ask about the source of funds or pause a deal.

Is it safe to send my passport to an exchanger?

A licensed exchanger is legally required to protect personal data. Send documents only through the official website or app of a company in the NBK registry, never via messengers.

Updated October 6, 2026