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This article provides an overview, beginning with the submission of a company profile by a Business User. It explores the verification process for company profiles conducted by Blockpass and demonstrates how to access the KYB report.

KYB profile submitted by Business User

KYB verification process for company profile

Document Validation

Type Standard
Company
Certificate of Incorporation Check if the documents are certified by an authorized entity (such as a government body, a licensed attorney, a certified accountant, or a notary public) within the past three months.
Articles of Association
Certificate of Incumbency
Directors’ register
Shareholders’ register
Organization Chart Check if the document is signed by the Director within the past three months.
Controller(s)
Authorised Representative Check if the submitted Identity Document and Proof of address are valid:
  • Identity Document: must not be expired; photocopy is acceptable
  • Proof of address: must issued within the last 3 months, including the name and residential address of the relevant individual; the type of document must be valid 
Director(s)
Shareholder(s)
Beneficial Owner(s)

 

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 Data comparison between the data provided with the data from an independent source (certified documents/ registry check)
Registered address Data comparison between the data provided with the data from an independent source (certified documents registry check)
Controllers
Director(s) Data comparison between the data provided with the data from an independent source (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)

 

Company verification

Check performed Data
Registry check Search for the company's existence via the company registry and find any other information we can take from it for the comparison step
Company name
Incorporation number
Registered address
Other
Company AML check 

Watchlists:
POI

SIE - Terror, Organised Crime, Financial Crime, Narcotics Crime, Modern Slavery, Bribery and Corruption, Cyber Crime,

Disqualified Directors, Other, Sanctions Lists (All), Law Enforcement, Regulatory Enforcement, Reputational Risk

 

Individual verification

Subjects of KYC verification Customer Due Diligence
Authorised Representative

Identity Document Authentication

AML verification - Sanctions List, PEPs, Adverse Media

All Directors
All Shareholders
All Beneficial Owners

 

Updated KYB Status and Report Shared with Customer

Upon completing the KYB Verification Process, the KYB Dashboard reflects the updated status.

  • APPROVED Status: All company documents and controller checks are CLEAR.
  • CONSIDER Status: There is a lack of valid sources to verify the information submitted by the Business User, and/ or the Controller KYC check is under consideration (due to AML flags, missing documents, etc.).

KYB status with certificate result is updated on the KYB Dashboard

Screenshot 2024-04-02 at 11.07.42.png

KYB report with Company Document is emailed to customers after the KYB status is updated

This report comprises:

  • All submitted company documents.
  • Results of the Corporate AML check.
  • The KYB report (in PDF format) provides an overview of the overall check status and any significant notes.
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