Everything you need to know about KYC procedure

KYC or, by its acronym, Know Your Customer is the practice carried out by companies to verify the identity of their clients in compliance with legal requirements and current laws and regulations.

The KYC process consists in verifying that the client is actually who he says he is and giving him access to the services or products he needs. This verification is carried out through different methods.

KYC verification process helps preventing customers who are involved in various types of fraud, money laundering and terrorist financing from gaining access to financial products.

Before being granted the ability to invest on UCG TRUST platform, customers must undergo the Know Your Customer verification process, which is required under AML regulations. The Verification process is easy and takes up to 15 minutes, in some cases up to 24 hour.

To complete your KYC procedure:

Log into your UCG TRUST account

Then go to the section "Settings" and upload your identification document (Driver’s license, Passport or ID)

Once verification process is completed, you can fully use your account without any future requests of any additional information (such as utility bills, etc.)

It is important to note that KYC procedure is a legal requirement and you may not be granted access to our system without undergoing the vetting process. The KYC procedure complies with the European Commission’s Anti-Money Laundering and Counter-Terrorist Financing directive that protects your account, personal data, and investments.

If you have already remitted money before completing verification process, your account will not be activated until we have verified your identity. In the case of failed verification, your money will be sent back to your bank account.