KYC Know Your Customer is the process of verifying the identity of, Customers. At Vocal Views, we have adapted this approach to verify the identity of our members, namely (KYM).
The objective of KYC / KYM guidelines is to prevent companies such as Vocal Views and financial institutes from being used, by criminal elements for money laundering activities.
It also allows us to verify the integrity of our member base, so that the same person does not sign up and participate in market research with more than one account.
KYC / KYM is the means of identifying and verifying the identity of the customer through independent and reliance source of documents, data or information. For the purpose of verifying the identity of our members.
In order to process the first pay-out from the Vocal e-wallet to a bank account via the Vocal Views platform, members are required to upload a copy of their photo identification, Passport, Driving Licence, or in some countries a National ID will suffice. For more information in relation to accepted documents, please review our FAQ. Similar information will also have to be provided upon signing up to Vocal Views, the information from both sources must match.
KYC / KYM is not a Consumer specific requirement; Vocal Views obtains identification data from all users including Client and Supplier accounts, to verify the legal status of an entity, operating address, the authorized signatories and beneficial owner. Information is also required on the nature of employment/business.
The KYC / KYM guidelines have been implemented by Vocal Views and their Payment Processor in the context of the recommendations made by the Financial Action Task Force (FATF) on Anti Money Laundering (AML) standards and on Combating Financing of Terrorism (CFT).
The Prevention of Money Laundering Act requires banks, financial institutions and intermediaries to ensure that they follow certain minimum standard of KYC / KYM and AML.
Periodicity, a refresh KYC / KYM is to be conducted at any time. Similarly, an existing Vocal member will be required to provide fresh KYC if the member changes personal profile information including; Name, date of birth or Address to adhere to the latest applicable KYC standards.
Failure to provide KYC, Vocal Views are entitled to refuse registration or discontinue an existing membership, if there is failure to meet the minimum KYC requirements. Please see our terms and conditions and payment process agreement.