Personal Data we process enables us to identify the Customers either directly or indirectly by reference to an identifier. Examples of identifiers we process are name, identification number, location data, an online identifier or one or more factors relating specifically to the economic, cultural or social identity of the natural person (“Personal Data”).
KYC verification on the ActiveIdea platform serves as an additional buyer protection layer and it’s not mandatory for the platform use. Every KYC verified user will have a verified check mark near his profile name.
Purpose of Collection, Processing and Disclosure
The Personal Data provided by Customers will be used by KYC for the purposes of processing for any one or more of the following purposes:
- To enable the KYC Clients to identify and/or verify the identity of the Customers in accordance with applicable International Anti Money Laundering regulations;
- To disclose to the KYC Clients by way of restricted access to the solution, to enable them to verify the identity of their Customers in accordance with applicable International Anti Money Laundering regulations;
- For any other specific purposes requested by the KYC Clients;
- To comply with legal and regulatory obligations applicable to the KYC Clients.
We really understand how sensitive your KYC information is. So for a security purpose we are using the AES-256-CBC encryption mechanism which encrypts your sensitive information using a securely stored PRIVATE KEY. Also, for the uploaded documents, it is privately accessible to the site owner only and the site owner can only have access to the documents only when your KYC application is in pending state. So once your KYC application is approved/rejected then the site owner will also be not able to access your sensitive information.