FRAUD PREVENTION, KYC & ANTI-MONEY LAUNDERING (AML) POLICY
LAST UPDATED: July 24, 2026
OPERATIONAL ENTITY: The Cove & Kin LLP
APPLICATION SCOPE: All Membership Applications, Payment Transactions, Account Identity Verifications, and Financial Operations
1. PURPOSE & SCOPE
This Fraud Prevention, KYC & Anti-Money Laundering Policy (“Fraud Policy”) sets forth the identity verification and transaction integrity standards enforced by The Cove & Kin LLP (“The Club”). Given the exclusive nature of Our community and high-value membership fees, this Policy exists to prevent credit card fraud, identity impersonation, account takeover, and illicit financial activities across Our digital platforms.
2. NON-FINANCIAL INSTITUTION STATUS
The Cove & Kin LLP operates strictly as a private family club providing offline community experiences and digital portal access. The Club is not a bank, financial institution, payment aggregator, or prepaid instrument issuer. The Club does not hold user balances, operate digital wallets, process peer-to-peer escrow, or offer financial services under the Prevention of Money Laundering Act (PMLA), 2002. All payment collection and merchant KYC compliance are executed through Our authorized, licensed payment gateway sub-processor (Razorpay).
3. IDENTITY VERIFICATION & ONBOARDING (KYC)
To protect the physical security and privacy of Our high-net-worth member community:
- Vetting & Application Matching: Membership onboarding requires primary contact validation, valid billing address details, and matching financial payment profiles.
- Anti-Impersonation: Applicants shall not submit false identities, misrepresent household details, or utilize unauthorized third-party payment instruments.
- Prohibition of Account Sharing: Member credentials and Progressive Web Application (PWA) portal access are strictly restricted to the verified Primary Member and Spouse. Selling, renting, transferring, or sharing membership credentials with unverified third parties is strictly prohibited and constitutes immediate grounds for membership termination without refund.
4. FRAUD MITIGATION & CHARGEBACK PROTOCOLS
- Automated Transaction Auditing: All transactions undergo automated risk scoring, IP geolocation matching, and tokenized authorization via Razorpay’s PCI-DSS Level 1 infrastructure.
- Bad-Faith Chargeback Action: Filing a fraudulent, unauthorized, or bad-faith payment chargeback or payment reversal with an issuing bank without prior written dispute resolution with The Club shall result in:
- Immediate, permanent revocation of household membership;
- Permanent blacklisting across all Cove & Kin platforms and physical venues; and
- Legal recovery of chargeback fees, administrative costs, and associated damages.
5. SUSPICIOUS TRANSACTION REPORTING
The Club reserves the right to suspend or block any transaction, application, or account that exhibits indicators of financial fraud, stolen credit card usage, identity theft, or suspicious automated bot activity. Where required by applicable law or judicial order, The Club will cooperate fully with law enforcement agencies and financial regulators in investigating fraudulent transactions.
6. GOVERNING LAW & CONTACT
This Policy shall be governed by the laws of the Republic of India.
For billing verification, fraud inquiries, or identity disputes: Contact support@thecoveandkin.club