Offerings commonly require investor background checks to confirm that the investor is a known person via a Know Your Customer check (KYC) and not on any Anti-Money Laundering (AML) or watch lists. In these cases, additional investor information will be required for each investor member when completing and submitting the investing account.
It’s very important that you fill in your legal first and last name, current physical address, and accurate DOB and SSN as they have been represented previously on government issued IDs for all investor members associated with the account. (To learn more about adding investor members, see here.) Additionally, under photo identification, we ask that you please upload a valid government issued ID or passport image. Once your data has been entered, you will see that your AML/KYC status will be pending and you can continue through the account stage.
Disapproved for AML/KYC
If you observe that further action is required under the account stage, this could be due to an issue validating your AML and/or KYC status.
If so, you will be required to return to the account stage to update or add account member information for individuals with a ‘Profile Status’ stating “Failed AML/KYC.”
Once the required or updated member information has been entered, select ‘Update Member’ to re-run the background checks.
Please note these common reasons an investor may not pass AML or KYC checks:
- Common name entered rather than full legal name (ex. Chris vs. Christopher)
- Address entered does not match a valid ID
- Address entered is not a physical address (ex. P.O. Box)
- SSN or DOB entered incorrectly
If you are disapproved for AML/KYC again after re-submitting updated member information, please contact email@example.com for assistance.