StegX ensures that no sanctioned person is able to invest by mandating a KYC (Know Your Customer) process. This multi-step procedure includes the verification of identities, PEP & Sanction List checks, and the identification of the UBO (Ultimate Beneficial Owner). This meticulous approach ensures compliance and security across our marketplace. In this article, we detail the specific steps required to ensure compliance and security.
Breakdown of the KYC Process
The KYC process is essential for ensuring that all investors on the StegX platform are verified and compliant with regulatory standards. Here’s what it involves:
- Video Identification: Each investor undergoes a video call to verify their identity. During this call, the investor will be asked to present identification documents in real-time to confirm their identity.
- PEP and Sanctions List Check: We conduct checks against politically exposed persons (PEP) and sanctions lists to ensure that no investor has any affiliations that might pose a risk under current financial regulations.
- UBO Verification (Legal Entities Only): For investing companies, it's necessary to provide an excerpt from a transparency register or an equivalent document. This helps us verify who ultimately controls the company and ensures that these individuals are also clear of any PEP or sanctions listings.
List Your Asset at StegX
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