Verification

Why do I need to verify my Bankera profile?

In order to comply with the AML/CTF regulatory requirements, we must know exactly who is using our services and monitor their behaviour to spot suspicious activity.

This is where KYC (or ‘Know Your Customer’) comes in. KYC is a customer due diligence process that financial institutions are legally obliged to undergo in order to assess and control the risk of money laundering, terrorism financing and fraud.

In a nutshell, KYC process includes:

• Identifying and verifying that a customer is who they claim to be on the basis of documents, data or information obtained
• If necessary, identifying the beneficial owner of the client and taking reasonable steps to verify their identity
• Collecting and assessing information about the nature of the customer’s profession or business and intended nature of the business relationship
• An assessment of the Client‘s individual AML/CTF risk
• Taking any additional enhanced measures if necessary