Fractal ID KYC Levels and coverage

Fractal ID allows clients to perform due diligence on their customers and the detail level of the due diligence is controlled by the client, who can choose between ID Level Basic or Plus, including any compatible add-ons, which should be reasonably chosen according to the client’s compliance needs.

Throughout global AML frameworks (e.g. FATF, EU AMLD, US BSA), we can find a common thread, especially when it comes to Know Your Customer (KYC) procedures and initial Anti-Money Laundering screenings. Fractal ID was tailor-made to suit the compliance necessities of clients spread across the world, which inevitably vary in stringency between jurisdictions.

By reliably verifying a customer’s identity and cross-checking it against financial crime and sanctions risk indicators, clients may not only achieve compliance with the applicable AML laws and regulations but also may ensure the best-informed decisions are made on either establishing or rejecting a business relationship with a customer, based on the client’s risk appetite thresholds.

First, a general overview of the use cases of Fractal ID levels:

Features and Use Cases	ID Basic	ID Plus	Uniqueness
Proof of Identity
Proof of Uniqueness
Proof of Address
Age Verification
Sanctions Screening
PEP Screening
High-risk Jurisdiction Screening
Legal Entity & Ownership verification - Institutional Onboarding (addon)
Adverse Media Screening (addon)
Source of Wealth Screening (addon)
Crypto Wallet Collection (addon)
Wallet AML Check (addon)