KYC Process & Review

Also see the IdentityVerifications endpoint: https://docs.cybrid.xyz/reference/createidentityverification

For Individuals (KYC)

States to understand

Identity Verification State	Time Frame	Description
PASSED	~60 seconds	If the customer passes the Government ID, Selfie Check, Database Verification, and AML Reports, the Identity Verification will be passed.
PASSED (after review)	~1-2 business days	If the customer fails either the Database Verification or AML Reports the KYC will go into review.
FAILED	~60 seconds	If the customer fails either the Government ID check or the Selfie Check their KYC will be failed.

API Return Codes

Government ID Failures

id_check_failure
duplicate_person_check_failure
id_quality_check_failure
id_barcode_check_failure
id_expiration_check_failure
id_double_side_check_failure
id_type_allowed_check_failure
id_country_allowed_check_failure

Selfie Failures

selfie_check_failure

Database Verification Failures

database_check_failure

AML Report Failures

pep_check_failure
media_check_failure
watchlist_check_failure

Tax Identification Failures (SIN / SSN)

database_check_failure

Additional Documentation Request for KYC

As part of compliance review, the compliance team may request additional documents to verify a customer.

Type of Document Requested	When do we request this document
Bank Statement from last 90 days	If an issue occurs with validating the Date of Birth (DoB) during KYC (or if a utility or telephone bill cannot be supplied fro address issues).
Utility or Telephone Bill	If an issue occurs with validating the address during KYC. This includes address verification failures related to Government ID checks or Database Verification checks.

For Businesses (KYB)

Identity Verification State	Time Frame	Description
REVIEW	~1-2 Business Days	All Business KYB's go into review

API Return Codes

AML Report Failures

media_check_failure
watchlist_check_failure

Tax Identification Failures (EIN)

database_check_failure

Compliance Review Targets

Below are the targets that our Compliance team targets:

Wallet Review: 1 business Day
KYC Reviews: 2 business Days
Bank IDV Reviews: 2 Business Days
Doc Request Review: 2 Business Days
EDD Review for HNW: Best effort (will vary based on complexity of the case)