Compliance & KYC
Identity checks, anti-money-laundering rules and data protection for payee data.
KYC and KYB
KYC (Know Your Customer) verifies a person's identity. KYB (Know Your Business) verifies a company, its owners and the people who act for it.
AML (Anti-Money Laundering)
AML rules require financial companies, and some other businesses, to prevent, detect and report money laundering and terrorist financing.
Data protection (GDPR)
Payout data contains personal data such as names, addresses, IDs and bank details, so privacy laws like the GDPR usually apply.
Liability in creator payouts
When a creator payout breaks tax or compliance rules, the business that paid can be held responsible. A Merchant of Record can take on much of that liability, within the limits of its contract and the law.
KYC and KYB
KYC (Know Your Customer) verifies a person's identity. KYB (Know Your Business) verifies a company, its owners and the people who act for it.