This initial compliance videoconference is strictly reserved for communication between the onboarding client and IFB Bank. Participation is limited to the onboarding client and their duly authorised representatives. 

The compliance videoconference with IFB Bank occurs after the preliminary Know-Your-Customer (KYC) documentation is submitted before account approval or onboarding. It serves as a mandatory intermediate step in the KYC process, enabling the bank’s compliance officers to: 

• Verify the identity of the prospective client through live interaction
• Clarify the structure and purpose of the proposed relationship
• Assess the legitimacy and origin of funds
• Address outstanding compliance questions or document inconsistencies
• Determine risk classification and potential enhanced due diligence requirements

No account activation or transaction processing is permitted before this videoconference is completed and the compliance team issues formal clearance. 

Regulatory Recording Disclaimer 

For the avoidance of doubt, IFB Bank hereby notifies all participants that all Zoom videoconferences organised, hosted, or attended by IFB Bank are recorded in whole and in part for regulatory, statutory, compliance, supervisory, audit, risk management, and evidentiary purposes. By accessing, joining, or otherwise participating in any such videoconference, each participant expressly acknowledges, accepts, and irrevocably consents to the audio-visual recording, processing, retention, storage, review, and, where required, disclosure of such recordings to competent supervisory, regulatory, judicial, or other legally entitled authorities, in accordance with applicable laws, regulations, and internal governance frameworks. 

Where a participant does not agree to such recording, that participant is not authorised to attend, access, or otherwise participate in the videoconference and must immediately disconnect.