KYC, know your customer, and AML, anti money laundering, are the checks that keep a marketplace honest. They confirm who is trading and guard against illicit funds moving through the system.
What KYC covers
KYC establishes that an organization is a real, registered, licensed business and identifies the people authorised to act for it. On Damtata this happens during onboarding, before any trading.
What AML adds
AML measures watch for patterns that do not fit legitimate trade, so that the platform is not used to launder money. Escrow, clear records and verified identities all support this.
Why it protects you
- You know the counterparty is a legitimate, verified business.
- Records are clear if a question ever arises about a deal.
- The whole market stays credible, which protects everyone in it.
What to expect
Expect to provide company registration, licensing, proof of address and authorised representative details. Keep them current, since verification is what unlocks trading.