KYC/AML stands for "Know Your Customer/Anti-Money Laundering" and is a requirement to pass for Assure's banking partners
When the KYC/AML status says, “in progress”, it could mean one of two things.
- The KYC process for that investor profile has not been finished. The KYC/AML will automatically run as the investor's profile is filled out.
- The investor needs to upload additional documents in order to pass KYC (“Clear” status). This would occur if the investor was representing an entity/trust or if the investor is international.