Organization & Personal Identity Verification

Every country has its own set of rules and regulations related to verifying legal identity and paying out funds to individuals and businesses. These are typically known as “Know Your Customer” (KYC) regulations. The objective of KYC guidelines is to prevent banks and other financial institutions from being used, intentionally or unintentionally, by criminal elements for money laundering activities. Read full definition.

These regulations broadly require two things:

  1. Collecting information needed to properly identify new customers
  2. Verifying the information provided is accurate is able to perform KYC verification of your account by collecting information such as full organization legal name (as seen on legal documents), EIN/Tax ID, legal representitive SNN, color copy of legal representitivedrivers license, etc. This infomation is used to verify that both you and the organization you are signing up are legitimate.

This process (KYC) of identifying and verifying our clients is extreamly important as we deal with finanical institutions and other peoples money. We do our best to make signining up and doing business with as simple as possible, but at times we have to gather additional infomation in order to properly veryify your account.

Your information is protected and not utilized for any other purpose, except for verification practices, in order to comply with KYC standards.