Ruul employs both KYB (Know Your Business) and AML (Anti-Money Laundering) procedures to validate the authenticity of businesses and mitigate the risks of financial crimes.
The KYB process focuses on confirming the identity and legitimacy of businesses. In contrast, AML checks serve as preventive measures against financial malpractices.
When adding a client to Ruul, you only need to provide basic details such as the business' operating country and tax identification number. Ruul manages the verification, eliminating the need for additional documentation on your part.
Verification durations can vary, typically spanning from a few seconds to several hours. Should a client not pass verification, transaction initiation remains restricted until successful verification. Ensuring the provision of accurate and comprehensive client data can expedite the verification timeline.