Plain-language draft
This document describes how Dreamer actually works today and is being reviewed by our legal advisers before launch. The signed version will replace it here, at this address, with its date.
1. Why we verify you
The Financial Intelligence Centre Act, 2001 (FICA) requires every accountable institution to know who its clients are, so the financial system cannot be used for money laundering or the financing of crime. Verifying you once, properly, is what lets your money move safely afterwards.
2. What we check
Your South African ID number, verified once against official sources and encrypted the moment you submit it; your name and contact details; and, where the law requires it, the source of larger deposits. We may ask again if your details change or the law requires a refresh.
3. What we will never do
Your ID number is never shown back in the app, never sold, and never used for anything except the verification the law requires. Access to it is restricted and logged.
4. Screening and reporting
Like every accountable institution, we screen against sanctions lists and must report certain transactions to the Financial Intelligence Centre where the law requires it. We cannot tell you when a report has been made — the law forbids tipping off — but the thresholds and rules are the same for every provider in South Africa.