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What is KYC/AML in Realbricks?

When creating an account on Realbricks, users will complete a KYC (Know Your Customer) and AML (Anti-Money Laundering) process. These steps are essential for ensuring compliance with legal regulations and for maintaining a secure investment platform. Here’s a closer look at what KYC and AML mean and why they’re important in Realbricks.

What is KYC?

KYC (Know Your Customer) is a verification process that requires users to provide certain personal details and documentation to confirm their identity. Realbricks uses KYC to:

  1. Verify User Identities: This step prevents unauthorized access and ensures users are who they claim to be.
  2. Enhance Platform Security: Knowing user identities protects against fraud, reduces the risk of financial crime, and promotes a safe investment environment.
  3. Ensure Regulatory Compliance: KYC is a legal requirement for financial institutions to comply with anti-fraud regulations, making it a crucial part of Realbricks’ onboarding.

What is AML?

AML (Anti-Money Laundering) refers to measures designed to detect and prevent financial crimes, such as money laundering and terrorism financing. Realbricks implements AML protocols to:

  1. Monitor Transactions: AML measures track financial activities on the platform, flagging any suspicious or unusual activity.
  2. Assess Financial Risk: AML checks evaluate users’ financial backgrounds to prevent illicit activities.
  3. Comply with Legal Standards: AML is required by law to prevent Realbricks from being used for illegal purposes, ensuring the platform adheres to both domestic and international financial laws.

How KYC/AML Works on Realbricks

During account setup, users are prompted to provide specific information, such as legal identification (passport, driver’s license) and possibly financial documents. This data is securely processed, allowing Realbricks to confirm user identities and monitor transactions per legal requirements.

Key Benefits for Users:

  • Enhanced Account Security: Protects against identity theft and unauthorized activity.
  • Compliance Assurance: Allows users to invest with confidence, knowing Realbricks meets legal standards.

By completing KYC and AML, Realbricks creates a trustworthy environment, ensuring users’ investments are secure and compliant with regulatory standards. For further assistance or details, Realbricks support is available to help guide users through the process.