This article provides an overview of the Know Your Business (KYB) verification process, starting with the submission of a company profile by a Business User. It details the verification steps carried out by Blockpass and explains how to access the KYB report.
KYB profile submitted by Business User
Document requirements
The table below outlines the document types required involved in the KYB process:
| Document | Requirements |
| Certificate of Incorporation | All documents must be certified by an authorized entity (e.g., government body, licensed attorney, certified accountant, notary public) within the past three months. |
| Articles of Association | |
| Directors' Register | |
| Shareholders' Register | |
| Certificate of Incumbency | Issued within 3 months. |
| Organization Chart | Must be signed and dated by the Director within the past three months. It should identify beneficial owners with 10% or more interest or other controllers (e.g., founders, settlors of a trust, or beneficiaries with 10% interest). |
|
Authorized Representative & Controllers |
Identity Document: Must not be expired; a scan/photocopy is acceptable. Certification is not required. Proof of Address: Must be issued within the last three months, include the individual's name and residential address, and be of a valid document type. |
KYB verification process for company profile
Document Validation Check
This check involves reviewing all submitted documents to ensure they meet Blockpass' standard requirements.
Data comparison
| Type | Comparison |
| Company | |
| Company name | Data comparison between the data provided with the data from an independent source (certified documents/ registry check). |
| Incorporation number | |
| Registered address | |
| Controllers | |
| Director(s) | Data comparison between the data provided with the data from an independent source (certified Certificate of Incumbency/ certified Directors' register/ registry check). |
| Shareholder(s) | Data comparison between the data provided with the data from an independent source (certified Certificate of Incumbency/ certified Shareholders' register/ registry check). |
| Beneficial Owner(s) | |
| Trustee(s) | |
| Partner(s) | |
Company verification
| Check performed | Data |
| Registry check | Verifies the company's existence and gathers additional information for comparison purposes. |
| Company name | |
| Incorporation number | |
| Registered address | |
| Other | |
| Company AML check |
Watchlists: SIE - Terror, Organized Crime, Financial Crime, Narcotics Crime, Modern Slavery, Bribery and Corruption, Cyber Crime, Disqualified Directors, Other, Sanctions Lists (All), Law Enforcement, Regulatory Enforcement, and Reputational Risk. |
Individual verification
| Subjects of KYC verification | Customer Due Diligence |
| Authorized Representative |
Identity Document Authentication. AML verification - Sanctions List, PEPs, Adverse Media. |
| Up to 2 Directors | |
| All Individual Shareholders | |
| All Beneficial Owners |
KYB Remediation Policy
The KYB process verifies only the applicant and includes a maximum of two reviews:
- Initial Review: If the application is complete, the report is issued. If the application is incomplete, a remediation request is made.
- Second Review: After the requested updates are provided, a second review is conducted. Following this review, the report must be issued.
If further remediation is needed after the second review, the customer will be treated as a new applicant, subject to the same two-review process.
Multi-layer Company Verification
For companies with additional layers of complexity, each additional layer is treated as a new applicant and will be charged as a new KYB profile. Customers must agree to these terms in advance before Blockpass proceeds with the verification.
KYB Dashboard
Get Started with Blockpass
Blockpass offers a KYB as an add-on service for Enterprise Customers. Details on starting the Enterprise Plan can be found here: Enterprise Plan: Getting Started with Blockpass: A Simple Guide for Customers.
FAQs for Business Users
Visit KYB Service - FAQs for Business Users for more information.
Need Support?
Contact Blockpass to get support at:
- Support Form
- Telegram: @bp_telegram_helpdesk_bot
- Email: sales@blockpass.org
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