SMART VALOR runs a full Know Your Customer (KYC) and Anti-Money Laundering (AML) process according to the regulations by the Swiss Financial Market Authority (FINMA) and Liechtenstein Financial Market Authority (FMA). For more information about the legal basis, please visit finma.ch and fma-li.li.
The KYC process is automated, however, if the documents uploaded are not conform with our compliance policies or not clearly visible, a manual intervention is required. During campaigns we can receive a significantly increased numbers of ID verification requests. Thus, the compliance office might require more time to review the cases that demand manual attention. This ensures that the process remains governed and compliant to the regulations we abide by. Regardless, you can, rest assured, expect an update from us in the coming hours.
Why should I verify my identity?
SMART VALOR is operating as a currency exchange and aims to keep fraudulent users and activities away. ID verification is important to enforce this and to keep our community protected. Verifying your identity acts as an anti-money laundering device, supporting SMART VALOR to prevent the creation of illegal accounts. In addition, it establishes security and gives you exclusive rights to the information provided in your account.
As a SMART VALOR user, you are asked to provide one document for ID verification and one as a proof of address. Based on the amount of currency you wish to do business in, you may be required to provide additional documents (proof of funds, proof of wealth etc.) also.