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Scrap Trade – Know Your Customer Information (KYC)

🔒 Because scrap metal trading is a regulated industry, we must gather certain information from you before you’ll be able to use Scrap Trade for transactions. This page explains why we need this information, how it’s used, and how we keep your data safe.

Why We Ask for Personal Information

As you continue the process of signing up for Scrap Trade, we’ll ask for information about your business and yourself, including your date of birth, tax ID number (ABN or ACN for Australian businesses), and proof of identity. We know you may wonder why we ask for this information and how it will be used.

The ‘Know Your Customer’ (KYC) process, explained below, helps us provide a safe, ethical, and compliant environment for all scrap metal trading transactions. It protects you, protects other members of our community, and ensures Scrap Trade operates within Australian and international regulatory requirements.

What is ‘Know Your Customer’?

‘Know Your Customer’ (KYC) standards are used by banks, financial institutions, and trading platforms worldwide to confirm that customers are who they say they are. By verifying our members’ identities, Scrap Trade can help keep transactions safe from:

KYC is not unique to Scrap Trade. It’s an industry standard required by law for any platform facilitating commercial transactions, particularly in industries like scrap metal trading that have historically faced challenges with illegal activity.

Why Do I Have to Share This Information?

Before we build a trading relationship with a member, we ask for specific information to:

The ultimate goal of the KYC process is to help your business get up and running with scrap trading as soon as possible while protecting your business, your trading partners, and the integrity of our platform.

We follow the same regulations as banks and financial institutions so that we can ensure we operate in an ethical and trustworthy manner. We want to protect your business and the transactions we facilitate for you. The KYC process helps us protect you.

What the Verification Process Looks Like

For Individual Sellers and Small Operators

If you’re registering as an individual or sole trader, we’ll ask you to provide:

For Registered Businesses and Companies

If you’re registering as a company or registered business, we’ll ask for:

For Scrap Yards and Processing Facilities

If you operate a scrap yard or processing facility, additional verification may include:

What Else Should I Keep in Mind?

Setting Up Accounts for Others

If you’re setting up Scrap Trade for someone else, it’s best to have that person complete the account creation process themselves. As you can see above, we ask for very specific personal information about the business owner and you might not have all the details at hand.

It’s not always possible to change account information once it’s been saved, especially if the account accepts live transactions before the correct information is entered. This is because KYC verification creates a permanent record linking identity documents to the account.

Accuracy is Critical

Please ensure all information you provide is accurate and matches your official documents exactly. Common issues that delay verification include:

Even small discrepancies can cause verification delays of several days while we clarify information.

Required Documents Must Be Clear and Valid

When uploading documents, please ensure:

Is My Data Safe with Scrap Trade?

Absolutely. We take every step required to safeguard your personal data. Here’s how:

Secure Data Storage

Privacy Protection

Industry-Standard Compliance

Scrap Trade is operated by MOBEIUS TECHNOLOGIES PTY LTD (ABN: 49 693 656 932, ACN: 693 656 932), a fully registered Australian company subject to:

We maintain the same data security standards as Australian banks and financial institutions.

What We Do With Your Information

Your personal information is used only for the following purposes:

We do not use your information for:

How Quickly Will You Confirm My Identity?

We work to confirm your identity as quickly as possible while maintaining thorough verification standards:

Typical Timeline

What Affects Verification Speed

Expedited Verification

If you need urgent verification for time-sensitive transactions, contact our support team at cs@scraptrade.com.au with ‘Urgent Verification’ in the subject line. While we can’t guarantee expedited processing, we’ll do our best to prioritize your application.

What Information Will I Need?

Here’s a comprehensive checklist of information and documents you’ll need to complete Scrap Trade registration:

INDIVIDUAL / SOLE TRADER CHECKLIST

REGISTERED BUSINESS / COMPANY CHECKLIST

SCRAP YARD / PROCESSING FACILITY (Additional)

How Can I Change My Information?

We understand that business information changes over time. Here’s how to update different types of information:

Information You Can Update Yourself

You can update the following directly from your Scrap Trade account dashboard:

Information Requiring Verification

The following changes require customer support assistance because they affect your verified identity:

To change verified information: Email cs@scraptrade.com.au with:

Our support team will guide you through the update process, typically completing changes within 2-3 business days.

Frequently Asked Questions

Why do you need my personal information if I’m just buying or selling scrap?

Even for simple transactions, Australian law requires platforms facilitating commercial trading to verify member identities. This protects everyone from fraud, ensures stolen materials aren’t traded, and prevents money laundering. Think of it like any legitimate business transaction—you wouldn’t buy a car or house from someone who refuses to prove their identity.

What happens if I don’t complete verification?

Without completed verification, you can browse listings and learn about the platform, but you cannot:

Verification is required for any transaction activity to protect all members.

Can I use someone else’s ID or business registration?

No, absolutely not. All documents must belong to you or your registered business. Using someone else’s identity documents is:

If you’re authorized to trade on behalf of a business, you must provide BOTH the business documents AND your personal ID showing you’re an authorized representative.

What if I’m concerned about privacy?

We completely understand privacy concerns. Please know:

I operate from multiple states. Do I need separate verifications?

No. One verification covers your activity across all Australian states. However, you may need different state-specific licenses (e.g., scrap dealer licenses) depending on where you operate. Our verification process is platform-wide.

What if my documents are expired?

We cannot accept expired identification documents. Please renew your driver’s license or passport before registering. For business documents, if your ASIC company extract is older than 3 months, please request a current copy before verification.

Can I trade internationally with Scrap Trade?

Yes! Many members trade with international buyers and sellers. However, you still need to complete verification based on your home country. Australian members verify using Australian documents; New Zealand members use NZ documents, etc. The KYC process adapts to your jurisdiction while maintaining consistent security standards.

Need Help?

If you have questions about the verification process or encounter any issues:

📧 Email Support: cs@scraptrade.com.au

📞 Phone Support: Check your account dashboard for current support hours

💬 Live Chat: Available during business hours from your account dashboard

📚 Help Center: https://scrap.trade/help

✅ Our support team is here to help you through the verification process. Most members complete verification smoothly, but if you need assistance, we’re available to guide you every step of the way.

MOBEIUS TECHNOLOGIES PTY LTD

ABN: 49 693 656 932 | ACN: 693 656 932 | Australia