KYC Process & Review

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

For Individuals (KYC)

Individuals, and beneficial owners of businesses, will go through a KYC process to verify their identity.

The KYC process includes, but may not be limited to, the following:

Government issued identification
Selfie check that must match photo ID on government identification
Database Verification (validates PII against voter, telco, utility or credit databases)
AML Screening, including
- PEP / HIO report
- Watchlist / Sanctions report
- Adverse Media Report

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.

Error	When this error could occur
id_check_failure	The document failed verification analysis. This could occur for a number of reasons including blurry photos, obscured data, missing data, or other compliance check failures.
duplicate_person_check_failure	The customer has already signed up for the service via your application.
id_quality_check_failure	The image of the document is too blurry to extract information or properly perform face recognition.
id_barcode_check_failure	The barcode on the back of the document could not be properly read.
id_expiration_check_failure	The ID is expired.
id_double_side_check_failure	The ID is double sided, but only one side of the ID was provided.
id_type_allowed_check_failure	The document is not a supported document. Supported documents include Drivers License, National ID, Passport, Passport Card, Permanent Resident Card, Visa or Work Permit.
id_country_allowed_check_failure	If the document is not from a supported country (for example, US customers must use a US form of ID).

Error	When this error could occur
selfie_check_failure	If the selfie images are too blurry, not the correct facial angles, too light, too dark, or cannot be matched to the photo on the provided government ID.

Error	When this error could occur
database_check_failure	A match for the customers name, address, date of birth, or SSN cannot be found in any of the government databases. Databases searched include Telco, Credit, Voter and Utility database.

Error	When this error could occur
pep_check_failure	If the individual is a known Politically Exposed Person (PEP) they may show up on this AML report.
media_check_failure	If the individual shows up on Adverse Media they may show up on this AML report.
watchlist_check_failure	If the individual is on a known government or international watchlist or sanctions list, they may show up on this report.

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.

Businesses, will go through a KYB process to verify their identity, and each beneficial owner will need to KYC.

The KYB process includes, but may not be limited to, the following:

Name of Business and Doing Busines As (DBA)
EIN Number
Address
Phone Number
Website
Database Verification
- Validates name, EIN, address
KYC of Beneficial owners with 25% or more of the business
- All beneficial owners subject to standard KYC checks
AML screening of business
- Watchlist / sanctions report
- Adverse Media Report

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

media_check_failure
watchlist_check_failure

database_check_failure

Below are the targets that our Compliance team targets: