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Network Security

How Kaoshi Network Keeps Your Data And Transactions Safe And Secure

In today’s world, there’s an increasing exchange of large, significant, and sensitive volumes of data between parties. From your grocery shopping list to top secret information; it is not hidden that data of varying confidentiality levels is exchanged every minute of every day. This begs the question, “What does one do to protect their data, and how effective is it in the long run?” Sensitive data and information that is not protected can be manipulated and abused in the wrong hands.

At Kaoshi Network, we have taken great measures to ensure that every information we receive is properly secure and safely guarded and, in this article, we show you just how we do it.

1. We Do Know Your Customer and Know Your Business (KYC and KYB)

Popularly known as Know Your Customer, KYC is a form of identification and verification of individuals designed to protect financial institutions against crimes like fraud, money laundering, and corruption. In the same vein, Know Your Business, KYB is a form of identification where businesses are vetted and deemed fit to transact by a series of verification. At Kaoshi Network, customers are both KYBed and KYCed; this is where we get to thoroughly vet and ascertain a customer’s reliability before letting them use our platform. We conduct KYC and KYB on customers for three major reasons; to establish customer identity, to understand the nature of customers’ activities and qualify that the source of funds is legitimate and to assess money laundering risks associated with customers.

As a business centred on cross-border money transfer, we always ensure that every single customer transacting with us is legitimate and must pass our KYC and KYB. This not only helps us but ensures the safety of other customers too.

2. We’re Registered with Regulatory Bodies

Kaoshi Network is registered with The Financial Crimes Enforcement Network (FinCEN) and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). FinCEN is a bureau of the United States Department of the Treasury that collects and analyses information about financial transactions to combat domestic and international money laundering, terrorist financing, and other financial crimes. FINTRAC is Canada’s financial intelligence unit and anti-money laundering and anti-terrorist financing supervisor.


Being registered with these anti-money laundering units ensures that at Kaoshi Network, we follow their Anti-Money Laundering and CFT guidelines. This implies that there is zero room for illegal monetary activities. This puts our customers at ease because they are sure their money is not involved in any sort of crime.

3. We partner with Financial Servicing Companies

We are partnered with financial servicing companies such as Plaid, Klarna and Interac. These companies ensure and make it easy, safe, and reliable for people to connect their financial data to their phones and apps. Now that you almost always have to give out some form of financial data, we have partnered with these companies to ensure your data is safe and secure. They act as intermediaries so that financial apps are given limited access to your bank account details and are only granted relevant information. So, whatever information you give us is always safe and cannot be accessed by unauthorised personnel.Protection of data and information is growing increasingly important today and we at Kaoshi Network are no different. We pride ourselves on making you feel as safe as possible and it starts with the three important ways listed above. From third-party KYC and KYB, to the guidelines to the financial companies, we ensure complete reliability from start to finish.

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