KYC and AML are not bureaucratic box-ticking in oil trading — they are the mechanism that keeps a deal bankable, lawful and safe from fraud. Buyers who understand what compliant onboarding looks like can spot serious counterparties quickly.
What KYC and AML mean
KYC (Know Your Customer) is the process of verifying who you are dealing with: corporate registration, beneficial ownership, and authorised signatories. AML (Anti-Money-Laundering) adds screening against sanctions and watchlists (for example OFAC) to ensure funds and parties are clean. Together they protect banks, buyers and sellers.
What compliant onboarding involves
- Certificate of incorporation and company registration details.
- Identification of directors and beneficial owners.
- Sanctions / OFAC and adverse-media screening.
- Banking coordinates appropriate to the payment instrument.
- Documentation retained for both buyer and seller.
Why buyers should welcome it
A counterparty that expects to be screened — and screens you — is behaving like a real business. Conversely, a "supplier" that resists any KYC while pushing for fast payment is displaying a classic warning sign. Mutual screening is a feature of every legitimate deal.
How LinkPort applies KYC/AML
We document KYC/AML for both sides before transacting, screen for sanctions exposure, and keep the paper trail complete. It sits alongside independent SGS inspection and transparent contracts in our compliance framework. For the wider warning signs, see how to verify a supplier.
Frequently asked questions
Is it normal to be asked for company documents?
Yes. Mutual KYC is standard and expected. A refusal to participate in KYC — on either side — is a red flag.
Does KYC slow the deal down?
Only marginally, and it prevents far costlier problems. Well-prepared parties complete KYC quickly. Start onboarding via our contact page.