Know your customer / Anti-money laundering
Assure performs KYC and AML checks on all investors into SPVs for which Assure is managing the bank account or for deals in which the Organizer has contracted with Assure to perform such checks.
What is KYC and AML?
KYC stands for Know Your Customer. AML stands for Anti-Money Laundering. Assure will run standard checks against known databases to verify the identity of investors and to confirm investors are not on lists of known criminals or "bad actors."
What is needed for KYC?
You will need to fill out your profile completely with your information as an investor, including your SSN, date of birth and current address (residential address, not PO Box). This information is collected during the creation of the investor profile.
What is Assure checking for?
Assure completes compliance checks on all of its clients and investors to make sure that it knows who is participating in its funds and to make sure that it does not have dealings with any "Bad Characters."
What happens if I don't pass?
You will be asked to upload additional documents.
These documents will then be used to perform additional verification of identity. If you then pass, you will be notified and allowed to continue your investment.
Why did I not pass the KYC check?
If you did not pass the check and would not expect to have any problems with the check, then edit your profile and make sure that:
- your info is all entered correctly, that you only listed your first and last names in the name fields,
- you did not add any "-" or "()" characters into any of the Tax ID fields.
- you are entering your residential address and not a PO Box.
- if investing through an entity, the signer and beneficial owner information includes their residential addresses as well'
What do I do if I did not pass? Can I still participate?
You will need to contact your organizer to alert him that you did not pass and he will work with Assure to determine whether you are still able to participate in the fund.