Verification: Your Shield Against Fraud

What Is Know Your Customer (KYC)?

Know Your Customer (KYC) is a process that all financial institutions and fintech companies use to verify the identity of their clients. Before opening a new account, we need to confirm that we know exactly who we are dealing with. This process is vital to prevent fraud, money laundering and other illegal activities.

KYC is not just a requirement for us - it is for your own safety. By knowing who our customers are, we can provide a safer and more trustworthy service. The process ensures that your account is protected from unauthorized access and financial fraud.

Why We Ask You to Complete the KYC Process

We ask all new users on our platform to complete the KYC process for several reasons:

1. Compliance with Anti-Money Laundering (AML) Regulations

Anti-Money Laundering (AML) is a set of laws and regulations that prevent the practice of transforming illegal money into legitimate assets. By requiring KYC, we align ourselves with AML regulations, ensuring that our platform cannot be misused for illegal activities, such as money laundering or terrorism financing.

2. Protecting You from Fraud

KYC verification allows us to authenticate who is accessing your account. This significantly reduces the risk of fraud, identity theft, and unauthorized transactions. It gives us, and you, peace of mind knowing that your personal and financial information is safe and secure.

3. Building a Trustworthy Financial Ecosystem

The KYC process fosters a more transparent and trusted financial environment. As an investor, knowing that all users have gone through a rigorous identification process increases confidence in the platform. You're not just protected from fraud—you’re engaging in a financial space where integrity and security are top priorities.

4. Strengthening Institutional Integrity

By following KYC and AML regulations, we ensure that our platform operates within the legal framework established by governments and financial regulators. This strengthens our reputation and integrity as a financial institution, allowing us to build long-lasting relationships with clients like you.

What Documents Do We Require for KYC?

The KYC process on our platform is designed to be as simple and quick as possible. You can use any of the four common forms of identification that you probably already have at hand:

• Passport
• ID card
• Residence permit
• Driving license

These documents help us to verify your identity quickly and efficiently. The whole process can usually be completed in just a few minutes.

How KYC and AML Benefit You

KYC and AML regulations not only protect us as a company but also safeguard your financial well-being. Here’s how these processes benefit you as an investor:

• Fraud Prevention: Your identity is verified before any account is opened, which reduces the likelihood of someone else accessing your account or using your personal information for illegal activities.
• Safe Transactions: By ensuring that all users are legitimate, we can maintain a safer platform for executing transactions, making sure that you’re engaging with verified parties.
• Peace of Mind: You can trust that your investments are held in a secure, legally compliant environment, backed by a system designed to thwart financial crimes.

Conclusion

Verification through KYC isn’t just a formality - it’s an essential step to ensure that both you and our platform are protected from risks associated with financial crimes. It helps us comply with AML regulations, creates a safer investment environment, and ensures that your account remains secure.

We’ve made the KYC process as simple as possible, allowing you to quickly and securely verify your identity using everyday documents. This way, you can focus on what truly matters - your investments - while we handle the security.

FAQ: Addressing Investor Concerns About the Verification Process

We have listened carefully to the feedback from investors who faced challenges during the verification process. Based on a recent survey, we've identified the most common concerns and are ready to provide clear answers. Our aim is to make the process as smooth and understandable as possible while ensuring the highest levels of security and compliance. Below are some of the most frequently asked questions and our answers.

Q: I didn't have a document at the time of the verification process. What can I do?

A: Don’t worry! You don’t need a passport or national identity card to complete the process. We accept other common forms of identification, such as a driving license or residence permit, so you can easily provide whatever is most convenient for you.

Q: I was worried that copies of my documents might get into the hands of fraudsters. Is this safe?

A: We take your privacy and security very seriously. The entire verification process is handled by Veriff, an industry-leading verification service that uses advanced encryption and security measures. Rest assured, your documents are only used for verification and are never stored on our servers. We ensure that all data is handled securely and in compliance with data protection regulations.

Q: My document was not valid at the time of verification. What should I do?

A: If your document has expired or is otherwise invalid, you'll need to use a valid form of identification. Simply provide a valid passport, ID card, driving license, or residence permit, and you’ll be able to complete the process without any issues.

Q: I didn’t understand how to go through the verification process.

A: We aim to keep the process as simple as possible. If you’re unsure, our platform will guide you step-by-step. However, if you’re still having trouble, don’t hesitate to contact our support team - they’ll be happy to assist you in completing the verification process.

Q: I encountered technical problems during the verification process. What can I do?

A: Technical issues can happen, but we’re here to help! If you experienced a glitch, try restarting the process or switching to a different device or browser. If the problem persists, reach out to our support team and we'll fix it as soon as possible.