What verification tests do you perform?

KYC (Know Your Customer)

We must verify clients' identities before they can use our services.

Proof of ID: To activate your TrustVault account, please provide your full name and proof of address. Acceptable government-issued IDs include:

• International passport
• Driving license (both sides)
• National ID card (both sides)

Other IDs will not be accepted.

Accepted proof of address includes:

• Energy provider bill
• Bank statement
• Tax assessment
• Photographic ID
• Mortgage statement
• Voter registration certificate
• Government correspondence regarding benefits
• Utility bills (not older than 3 months)

Proof of residence must show your full name and address and be issued within the last 3 months.

Note: Bitpanda Custody Compliance Officers may request additional documents.

Video: For identity verification, please upload a video of yourself holding your ID to expedite the process.

Know Your Business (KYB)

When onboarding businesses via Sumsub for KYB verification, a series of checks are conducted to confirm the business's legitimacy:

1. Company Verification:
   • Verification of registration documents like certificates of incorporation.
   • Validation of company information against global databases.
2. Ultimate Beneficial Owner (UBO) Verification:
   • Identification of individuals owning 25% or more of the business.
   • Background checks to ensure no links to illegal activities.
3. Director Verification:
   • Validation of key management personnel's identities.
   • Checking personal IDs against watchlists for any adverse history.
4. Sanctions and Watchlists:
   • Checks against global anti-money laundering and counter-terrorism databases.
5. Business Activity Verification:
   • Verification of the business's operations and compliance with regulations.

Sumsub automates much of this process to ensure compliance with global regulations, providing real-time verification for smoother onboarding.