KYB Service - FAQs for Business Users

1. Are you using the KYB Form of a third party to collect our company profile?

No, the KYB Form is developed and owned by Blockpass. Therefore, your company information shared with Blockpass is directly received and stored in the Blockpass database.

2. I submitted the KYB Form but would like to change a document on that, can I edit the previous KYB submission?

Unfortunately, you cannot edit your previous submission. Once we verify your submitted KYB profile, we will send you an email to ask for any relevant or missing documents required to complete your KYB report. If you need to update the document or if you have any inquiries, please contact us at kyb@blockpass.org.

4. I am the Authorised Representative but wish to assign that role to another colleague, can I?

Yes, you can confirm via email with reasonable reason. However, the nominated Authorised Representative must be one of the controllers listed in your KYB submission (for example the director). 

5. Our Business does not have enough required documents, can you approve the KYB report as an exception?

We cannot approve your KYB report if we cannot collect all the required documents. Please prepare enough company documents so that we can verify and complete the KYB report for you.

6. Could you please provide an example of what information about our company will be shared/ included in a KYB report?

A KYB report includes the following information and documents:

- Business Information: This section provides general details about your Business User, including Business Name, Brand Name, Registered address, Incorporation number, Jurisdiction, and KYB report Status.

- Results of various checks are categorized into four sections: Document Validation, Data Comparison, Company AML Check, and Individual KYC Verification.

- Relevant Documents: Corporate documents, Corporate AML scan result, KYC documents (Identity document and Proof of Address) of the Authorised Representative and Controllers (Directors/ Shareholders/ Beneficial Owner), and the Individual AML scan result of the relevant Individuals.

7. Our Business already has a complete KYB report with Blockpass. Can I reuse it to share with your other customers?

You need to reshare your company profile with up-to-date information via the KYB form provided by another service. Your company will be verified based on the data you submit to that service.

We want to draw your attention to the demo of the Blockpass KYB profile re-shareable feature. You can find it at https://www.blockpass.org/2023/11/30/have-a-look-at-blockpass-kyb-shareability-feature. This feature allows the system to automatically populate your most recent submission data into the new submission. However, you can still make any necessary changes or additions to the information as required.