Source of Funds Check via KYCAID

KYCAID is a smart compliance management platform that offers a fast, secure, and all-around reliable way to check and verify sources of funds in a couple of clicks. Employ accessible and immediate out-of-the-box anti-money laundering (AML) opportunities to keep your funds clean and really know your customers. Achieve the ultimate transparency of funds and know who you are dealing with when making essential business transactions.
SoF Check
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Legit Customer Transactions with KYCAID

KYCAID helps make sure that your customers receive funds legally, without going beyond all essential existing regulations (both local and international). Verification services and procedures are made utterly simple and accessible so that customers wouldn’t waste a single extra minute - you can basically check and verify the legitimacy of financial operations and all related processes in one place (using either a preset web forms or server to server api). For this, users only need to pass a simple 3-minute identity verification procedure.
Step 1

Identity verification procedure

All a customer has to do to launch the transaction source legitimacy verification procedure is provide an ID in order to first verify their identity. For this, a customer may use either a digital copy or a photo of:
  • ID card
  • Passport
  • Driver’s license
You can upload an image in any convenient format or take a photo without leaving the verification form if you have a web camera. Either way, it’s easy - just follow the instructions.
Step 2

Transaction verification check

On the following page of the verification form, you need to specify payment credentials in order to confirm the payment method. For this, you need to:
  1. Specify number of the card used to make the payment;
  2. Provide a tax document (either upload a digital copy or make a photo of it without leaving the form).

Resulting verifications and summaries

KYCAID is your ultimate one-stop KYC regulation and transaction verification service that helps you efficiently fend off potential money-laundering attempts, unauthorized transfers, and other malicious intentions and financial scams.

Source of income check

The KYCAID service identifies the exact source of transaction and verifies its legitimacy according to the underlying KYC policies and regulations that work region-wide, state-wide, nation-wide, or internationally.

Transaction amount check

Maximize the transparency of transactions by checking the exact original transaction amount (without round-ups, fees, or cashback commissions).

Purpose of transfer check

You may also see the specified transfer purpose as a means of making sure that the transaction came from a legitimate source that doesn’t have any malicious intentions.

Origin of funds explanations

Identifying and analyzing the origin of funds allows you to trace transactions up to the original source of transferred funds, letting you literally “get to the bottom” of transactions and financial flows.
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