Why do I have to provide documentation about my business to sign up to CleverCards?

CleverCards is an e-money distributor, and as such we are subject to anti-money laundering regulations which aim to combat money laundering and terrorist financing.

The anti-money laundering regulations require CleverCards to 'Know Your Business’ (KYB) and as part of this process, we are obliged to source significant levels of information to verify the identity of our clients/customers.

These KYB checks remove the risk of onboarding customers involved in money laundering, fraud or other illegal activities like financing terrorism. It also allows us to identify a politically exposed person, such as someone working in public office, who could be a target for bribery or corruption before onboarding them.

Once your details have been successfully verified, your CleverCards account will be approved, allowing you to begin issuing cards.