Know Your Customer (KYC) Policy
1. Purpose
Pakimu Investment Limited T/A WanPaus Microfinance ("Pakimu") is committed to verifying the identity of every borrower before extending credit. This Know Your Customer ("KYC") Policy describes the customer due diligence process we apply, the information we collect, and how we use and protect that information.
Identity verification protects borrowers from identity fraud and ensures that loan products are extended only to eligible, verified individuals. It also supports our obligations under applicable Papua New Guinea financial regulations and anti-money laundering laws.
2. Scope
This policy applies to all prospective and existing borrowers on the WanPaus Microfinance platform ("the Platform"). KYC verification is a mandatory prerequisite for access to loan products. No loan may be approved for a borrower whose KYC status is not VERIFIED.
3. Information Collected
As part of KYC verification, Pakimu collects:
- (a) Full legal name — as stated on the government-issued identity document;
- (b) Date of birth;
- (c) Residential address;
- (d) Government-issued identity document — document type (national ID, passport, or driver's licence), document number, expiry date, and a clear photograph or scan of the document front and back;
- (e) Liveness check — a selfie or liveness video taken at the time of registration, used to confirm the applicant is a real, live person present at the device;
- (f) Email address — verified via OTP;
- (g) Mobile phone number — verified via OTP.
4. Verification Process
KYC verification is completed in the following steps:
- (a) Document submission. The borrower uploads a photograph of their government-issued identity document through the Platform.
- (b) Liveness check. The borrower completes a liveness verification using their device camera. The liveness check confirms the applicant is physically present and that their face matches the submitted identity document.
- (c) Email verification. An OTP is sent to the borrower's registered email address and must be confirmed.
- (d) Phone verification. An OTP is sent to the borrower's registered mobile number and must be confirmed.
- (e) Review. The submitted information is reviewed by an authorised staff member or automated verification system. The KYC profile is set to VERIFIED, PENDING, or REJECTED based on the outcome.
5. Acceptable Identity Documents
The following government-issued identity documents are accepted:
- Papua New Guinea National Identity Card;
- Papua New Guinea Passport (valid and not expired);
- Papua New Guinea Motor Vehicle Driver's Licence (current).
Documents must be legible, current (not expired), and issued by the Government of Papua New Guinea. Altered or tampered documents will result in KYC rejection and may be reported to law enforcement.
6. Duplicate Identity Detection
The Platform applies automated checks to detect duplicate identity submissions. Where the same identity document number or the same liveness biometric appears to be registered under multiple accounts, both accounts will be placed in PENDING status pending manual review. Borrowers must not attempt to create multiple accounts or submit identity documents belonging to another person. Doing so constitutes fraud and a breach of our Acceptable Use Policy.
7. KYC Outcomes
- VERIFIED: All verification steps completed satisfactorily. The borrower may apply for loans subject to eligibility rules.
- PENDING: Verification is in progress or requires manual review. Loan access is suspended until the review is complete.
- REJECTED: Verification has failed. The borrower may not access loan products. Reasons for rejection may include: document not legible, liveness check failed, duplicate identity detected, or inconsistency between submitted information and document.
If your KYC is rejected and you believe this is in error, contact hi@wantekpng.com with your full name and registered email address. We will review the decision within 5 business days.
8. Re-verification
Pakimu may require a borrower to re-complete KYC verification in the following circumstances:
- (a) the borrower's identity document is approaching or has passed expiry;
- (b) there is a change of the borrower's legal name;
- (c) there are reasonable grounds to suspect that the existing KYC record is fraudulent or compromised;
- (d) a regulatory direction requires enhanced due diligence.
9. Data Storage and Retention
All KYC documents and verification data are stored securely on access-controlled infrastructure. Access is restricted to authorised staff on a need-to-know basis. KYC documents are retained for the duration of the borrower's account and for seven (7) years after account closure, in line with financial record-keeping best practice and our Privacy Policy.
10. Use of KYC Data
KYC data is used exclusively for:
- (a) verifying the borrower's identity before loan approval;
- (b) detecting and preventing identity fraud and duplicate registrations;
- (c) compliance with applicable PNG law and regulatory directions;
- (d) responding to lawful requests from PNG law enforcement or regulatory authorities.
KYC data is not shared with third parties for commercial purposes and is not used for marketing. See our Privacy Policy for full data handling details.
11. Contact
Pakimu Investment Limited T/A WanPaus Microfinance
Email: hi@wantekpng.com
Papua New Guinea