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AML registration process in UAE

AML Registration in UAE: Step-by-Step Process Guide [2025]

Posted on | by Tanya Narayan
🗒️  Key Highlights
  • Registration is only mandatory for businesses operating in sectors identified as high-risk for money laundering or terrorism financing, including FIs, DNFBPs, and VASPs.
  • The Org ID is a unique identification number assigned to your business once AML registration is approved. It’s required for all future reporting and portal access.
  • Businesses can outsource reporting responsibilities to third-party consultants, but both entities must be registered on the goAML portal, and access must be officially granted.

Anything that moves fast needs checks to stay stable. 

Financial systems are no different. Without built-in friction, bad money flows just as easily as good money. 

That’s what AML registration solves. It slows things down just enough to make illegal activity harder and accountability easier.

In the UAE, this isn’t optional for certain businesses. If you operate in sectors like real estate, precious metals, crypto, or professional services, you’re expected to register, report, and stay alert. 

If you want to do AML registration in UAE, grab a cuppa coffee, and let’s go through the entire process, step-by-step.

💡 Related Blog: KYC requirements for UAE in 2024.

Understanding AML Registration

AML registration is basically your business getting on record with the UAE government to say you’re following anti-money laundering rules. 

In the UAE, AML registration is overseen by the Financial Intelligence Unit (FIU), which runs the goAML platform. Depending on your business type, you might also deal with other authorities like the Central Bank, Ministry of Economy, or Dubai Financial Services Authority. 

These bodies make sure you’re not just registered but also actually doing what’s required, like appointing a compliance officer, setting up internal checks, and staying alert to suspicious activity.

Who Must Register for AML in the UAE?

Not every business needs to go through AML registration, but if you deal with money, high-value assets, or client trust, there’s a good chance you’re on the list. 

The UAE has clearly defined which sectors are considered high-risk for money laundering or terrorism financing, and these are the ones that need to register on the goAML portal and follow AML rules.

Category Examples
Financial Institutions (FIs) Banks, insurance companies, exchange houses
Real Estate Sector Brokers, developers, and agents involved in property transactions
Dealers in Precious Metals and Stones (DPMS) Jewelry businesses, gold, and diamond dealers
Virtual Asset Service Providers (VASPs) Crypto exchanges, digital wallet providers
Corporate Service Providers Businesses offering company formation, nominee director services
Legal Professionals Law firms, notaries (if engaged in financial or asset transactions)
Accounting and Audit Firms Accountants, auditors, tax advisors

Even if your business doesn’t handle cash directly, offering services that can be used to hide or move money puts you on the radar. If you’re in doubt, it’s safer to assume registration is needed and verify with a compliance expert.

Step-by-Step Guide to the AML Registration Process

Whether you’re setting this up for the first time or helping someone else do it, here’s exactly how it unfolds. The typical AML registration process has seven steps:

Step 1 – Confirm if Registration Applies to Your Business: Start by checking if your company falls under any of the regulated categories from the above table (double-check with a compliance officer). If yes, registration isn’t optional.

Step 2 – Appoint a Compliance Officer and Gather Documents: You’ll need to assign someone as your AML point of contact. Their documents (e.g., passport, visa, Emirates ID, and authorization letter) will be part of the registration file. Also, get your trade license and business ownership info ready.

Step 3 – Complete Pre-Registration via SACM: Before anything goes into the goAML system, you need access. That starts with registering on the SACM (Service Access Control Manager) portal. This step gives you login credentials and sets up your Google Authenticator access for secure sign-in.

Step 4 – Log into goAML and Set Up Your Entity Profile: Once you’re through SACM, head to the goAML portal. Log in using the credentials and two-factor code. Then, complete your organization’s profile, enter business details and compliance officer info, and assign the correct regulatory authority.

Step 5 – Wait for Approval and Receive Org ID: After submission, your application is reviewed by the relevant authority. Once approved, you’ll receive your official goAML Organization ID. This is what links your business to the system for reporting.

Step 6 – Have Your Internal AML Controls Ready: This isn’t something you do after getting approved. You’re expected to already have your AML policy in place (customer checks, transaction monitoring, risk assessments). If regulators ask for it during the process, you should be ready.

Step 7  – Start Reporting: Once fully registered, you can begin reporting suspicious transactions, high-risk dealings, or flagged clients through the goAML portal. You’re officially live and accountable from this point forward.

Every step builds on the last, so skipping ahead or missing a detail can delay your approval. Do it clean, do it right the first time, and your business stays on the right side of UAE compliance. 

Key Documents and Information Required for Registration

Before you dive into AML registration, make sure your paperwork’s tight. The authorities won’t even look at your application if basic documents are missing or unclear. 

Most of what’s required is standard business documents, but there are a few AML-specific additions you’ll need to prepare upfront.

Here’s what typically needs to be submitted:

  • Trade License: A valid commercial or professional license for your business
  • Compliance Officer Documents: Copy of passport, Emirates ID, and residence visa of the appointed AML compliance officer
  • Authorization Letter: Signed letter authorizing the compliance officer to act on behalf of the company for AML matters
  • Organizational Structure: Basic outline of ownership, partners, and business activities
  • Contact Details: Accurate email and phone number for official communication
  • Google Authenticator Setup: You’ll need to install the app on the compliance officer’s phone for 2FA during goAML access
  • Additional Licenses (if applicable): Any sector-specific permits or approvals depending on your business activity

Some authorities may ask for extra stuff depending on your business type, so it’s wise to check before you hit submit. 

Now that you ‘shave working knowledge of what’s AML registration in UAE, it process, document requirements, let’s see what can happen if you don’t comply. 

Consequences of Non-Compliance

The UAE has zero tolerance for businesses that ignore AML laws, and the penalties aren’t light warnings. They hit hard, both financially and reputationally. Here’s a quick snapshot:

Violation Penalty
Failure to register on goAML AED 50,000 to AED 5,000,000
Not appointing a Compliance Officer Heavy fines + possible business review
Delayed or missing STR/SAR submissions Financial penalty + regulatory scrutiny
Incomplete or incorrect documentation Application rejection or delays
Not implementing internal AML controls License suspension or revocation
Repeat or willful violations Criminal investigation or prosecution

 

As you can see, whether it’s missing registration deadlines or failing to report suspicious activity, the fines stack up fast and can even lead to criminal charges.

Ongoing compliance is where most businesses slip, not because they ignore the rules but because manual checks can’t keep up with evolving risks.

That’s where smarter infrastructure helps. Tools that handle KYC verification, PEP screening, and UBO checks in real-time reduce the load without cutting corners. Signzy’s API stack fits right into that layer. It’s built to support compliance teams who want faster onboarding, cleaner records, and fewer gaps in their process.

If staying compliant is a priority, your tech should reflect that.

What is GRC_India

What is Governance, Risk, Compliance (GRC)? Setup + Best Practices

Posted on | by Agrima Dwivedi
🗒️  Key Highlights
  • GRC stands for Governance, Risk, and Compliance. It refers to how a business defines decision rules, manages risks, and ensures it follows relevant laws and internal standards.
  • KYC and onboarding are compliance-heavy workflows. GRC ensures those flows follow the rules, store the correct data, and flag risks early, primarily when handled through APIs or digital tools.
  • You don’t need a single paid software to start GRC. You can use spreadsheets and task tools. But as you scale, the software helps automate tracking, reporting, access logs, and audit trails.

Every fast-moving finance business runs on one simple mechanism: decisions, actions, and consequences.

  • Who approved that payout?
  • Why was that vendor cleared?
  • Was that onboarding flow compliant? 

These questions don’t come up when things go right. 

…But they define everything when things don’t.

That’s where GRC steps in. 

Not as a cost center, not as a corporate ritual, but as a system that ensures critical decisions don’t rely on memory, mood, or muscle memory.

If you want to know how to structure it, run it, and make it part of your operations without slowing down what matters, this guide has everything you need to know and take-home trackers. 

Let’s start with nuts and bolts first.

Governance, Risk, Compliance (GRC), Explained

If you’re building in fintech, crypto, or anything that touches money, you can’t afford loose ends.

Not just in code or design but in how your company works behind the scenes. Who’s making decisions? What happens when things break? Whether you’re following the rules that apply to you.

That’s GRC. Governance, Risk, Compliance. It’s more like the spine that keeps everything straight as you grow.

  • Governance → Defines who has the authority to make decisions, approve changes, sign contracts, manage funds, and access sensitive systems. Prevents overlap, confusion, and unauthorized actions.
  • Risk → It detects threats like fraud, regulatory action, system downtime, and third-party failure and sets up controls to reduce or respond to them.
  • Compliance → Tracks which laws, regulations, and standards apply (like RBI, SEBI, FATF, GDPR) and ensures internal processes, documentation, and product features meet those requirements. Includes audit readiness.

GRC is built so your team doesn’t get stuck fixing preventable problems. It’s what lets you move fast without crossing lines you didn’t even know existed.

Without GRC, you fix things when they break. With GRC, you avoid most breaks to begin with. Especially as you grow, it keeps operations stable while everything else scales. It is not a visible feature, but it keeps the engine clean.

How to Implement GRC in an Organization?

You do not need to over-architect the system, but it has to be deliberate. GRC is not something that happens in the background. It is something you set up intentionally. 

Here’s a comprehensive 6-step process to get running.

Step 1: Assign Clear Ownership

GRC does not work unless each component has a responsible owner. 

  • Governance is typically handled by senior leadership, such as the COO or board members since it involves decision-making rules, oversight mechanisms, and accountability. 
  • Risk should be owned by operations or a product-risk team, depending on the business model. 
  • Compliance usually falls under legal or finance, especially in regulated sectors. 

These roles should be fixed, documented, and visible to the entire leadership team.

Step 2: Build a Live Compliance Inventory

The first tactical step is building a compliance inventory. This is a single document that lists every regulatory, legal, and operational requirement your company must follow. It should include authorities like RBI, SEBI, FIU-IND, income tax, and any self-imposed obligations like contractual requirements from partners or investors. 

For each item, document the frequency, responsible owner, due date, and status. This should be reviewed every month and updated as rules evolve.

Look at this tracker, for example:

You can get this tracker template – HERE. Please read the disclaimer carefully before using it.

Step 3: Maintain a Risk Register

This register is a working document that makes your leadership aware of what could go wrong, how prepared you are, and where you need to act next.

In this, create a structured register of risks across the business. Include legal, operational, financial, cybersecurity, vendor, and reputational risks. Each risk entry should include a short description, its likelihood and impact rating, an owner, and the mitigation plan. Refer the example below for better idea.

Grab tracker – HERE (check second sheet). Once again, please read the disclaimer carefully before using it.

If a risk materializes, the register should also track the incident history and recovery steps.

Step 4: Apply Access and Change Controls

Every tool or system that handles data, money, or sensitive workflows must have permission layers. 

No one should get admin access without documented approval, and no access should go unmonitored. 

You should be able to review logs showing who accessed what and when. For workflows that involve financial decisions, refunds, reconciliations, or reporting, enforce a maker-checker system. One person performs, and another person verifies. 

This prevents internal fraud, misuse, and unintentional errors from going unnoticed.

Step 5: Define Protocols for Incidents

You need a basic response plan for the most common categories like: data breaches, financial errors, system outages, regulatory notices, or internal fraud. These plans should define who is responsible, what steps are taken immediately, who is informed, and whether reporting to regulators or partners is required.

This can be stored in a simple internal document. Everyone involved in operations, tech, or compliance should be trained on it once per quarter. The aim is to avoid delays and miscommunication during high-pressure events.

Step 6: Conduct Internal Reviews Quarterly

Set a fixed schedule to review GRC functioning across departments. 

Each quarter, review the compliance tracker, governance logs, risk register, and access controls. 

  • Check what was missed, what got delayed, and what changed. 
  • Document the gaps. Assign fix owners. 
  • Set a 30-day resolution period for anything that affects compliance or customer trust.

These reviews don’t need to be formal audits. But they need to be routine, structured and followed through. GRC stays strong only when it’s maintained, such as in infrastructure.

Related Resources

Data Breach API

Liveness Check API

Fraud Risk Management

Best Practices to Implement GRC

A structured GRC system is good. But what keeps it working week after week is operational hygiene. Beyond the core setup, there are specific habits and decisions that make the difference between a GRC program that exists on paper and one that actually holds up under pressure.

Read these four best practices we’ve compiled. 

  1. Regulations should live close to your product, not just in legal docs: Maintain a product-to-regulation mapping. For every customer-facing flow (like onboarding, lending, payments), clearly link the governing rule, circular, or internal policy. Update this during every major release cycle. This avoids accidental non-compliance with product updates.
  2. Regulatory updates should be treated as version changes, not alerts. Set a fixed monthly slot to review new circulars, enforcement trends, and legal shifts. Assign a team member to summarize what changed, what’s relevant, and what needs action. Tag affected workflows and assign follow-ups.
  3. Compliance tasks need to show up where work happens, not in static files: Use task management tools like ClickUp, Notion, or Trello to assign and track compliance activities. Each task must have an owner, deadline, and proof-of-work link. Reminders and missed-task visibility should be built in by default.
  4. Vendor risks should be logged and monitored like internal ones: For every third-party tool, partner, or contractor with access to sensitive data or systems, maintain a basic vendor risk profile. Note compliance clauses, data handling risks, and SLA violations. Review high-risk vendors quarterly. Keep contracts easily retrievable.

The tighter your internal processes get, the more your external systems need to keep pace. When workflows like onboarding, Video KYC, and risk checks become routine, they should not rely on manual checks or scattered tools. That’s where APIs step in for consistency and control.

Whether it’s checking if your information is compromised in data breaches or verifying identities during onboarding, these compliance checks are foundational steps in how trust is built, and risk is managed.

Signzy’s suite of APIs is designed to support that shift. Quietly, in the background, where structure matters most.

Business Verification

Business Verification in Canada: Complete Guide [2025]

Posted on | by Tanya Narayan
🗒️  Key Highlights
  • Canada is considering increasing fines for AML violations by up to 40 times, signaling a tougher stance on financial crime enforcement.
  • Under Canada’s anti-money laundering laws, businesses that fail to report suspicious transactions can face fines of up to $500,000 per violation.
  • Regulatory scrutiny has led to major penalties for banks, with one of the biggest banks, TD Bank, facing a $3 billion fine over compliance lapses.

 

Parameter KYB in Canada KYB in the US
Regulatory Authority FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) FinCEN (Financial Crimes Enforcement Network)
Primary Legislation Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) Bank Secrecy Act (BSA), Corporate Transparency Act (CTA)
Process to conduct
  • Retrieve business registration from federal/provincial registries.
  • Identify and verify beneficial owners (25%+ ownership).
  • Use FINTRAC-approved identity verification (ID, credit check, dual-process).
  • Confirm business operations if required (bank details, contracts).
  • Maintain records for at least five years.
  • Register with the Secretary of State and obtain an EIN.
  • Disclose beneficial ownership (25%+ under CTA).
  • Verify identity using SSN, EIN, or third-party databases.
  • Validate business activity (financial statements, public records).
  • Keep records for at least five years.
Document Requirements
  • Certificate of Incorporation
  • Business Number (BN)
  • Shareholder Register (if applicable)
  • Government-issued ID of owners
  • Proof of business address
  • Bank account details (if required)
  • Articles of Incorporation
  • EIN
  • Operating Agreement (if applicable)
  • SSN/EIN for identity verification
  • Business license (if applicable)
  • Proof of operations (bank statements, contracts)
UBO Disclosure Requirements Mandatory for entities with 25%+ ownership (FINTRAC requires disclosure of UBOs) Mandatory disclosure of beneficial owners (25%+ ownership under CTA)
Accepted Verification Methods Confirmation of existence, reliance on other reporting entities, simplified method for low-risk businesses Public records, third-party data providers, business credit bureaus

Back in the days, a handshake used to seal deals. No paperwork, no background checks. Just trust. 

But business has changed.

Today, a company can exist on paper, online, or in name only. It can look legitimate, have clients, even process transactions—without ever being what it claims. That’s not a loophole. It’s just how modern business works.

So, how do you separate what’s real from what’s just well put together?

Canada has laid clear instructions for this. Take aside your 6 minutes to understand everything: what to check, how to confirm, and much more.

Let’s directly get into it.

💡 Related Blog: How to verify businesses?

What is Know Your Business Verification in the Context of Canada?

Know Your Business (KYB) verification in Canada refers to the process of identifying and validating a business entity before engaging in financial transactions or business relationships. 

It is mandated under Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and enforced by FINTRAC (Financial Transactions and Reports Analysis Centre of Canada). 

The main idea behind conducting this KYB verification in Canada is to stop fraud, money laundering, and illegal financial moves.

Canada Business Verification Regulations

Canada’s business verification regulations, as outlined by FINTRAC, mandate that reporting entities adhere to specific protocols to prevent financial crimes. 

Here are five key points

  1. Mandatory Identity Verification: Reporting entities must verify client identity for transactions: cash ($10K+), virtual currency ($10K+), electronic funds transfers ($1K+), and suspicious transactions (any amount). Applies to banks, securities dealers, casinos, and real estate. 
  2. Approved Verification Methods: Entities can verify identity using government-issued photo ID, credit file checks (must be Canadian, active for 3+ years), or dual-process verification (utility bill, tax document, or bank statement from separate sources). 
  3. Beneficial Ownership Disclosure: For businesses, entities must collect information on persons owning or controlling 25%+ shares and verify identity using reliable documents like shareholder registers, partnership agreements, or trust deeds.
  4. Record-Keeping Obligations: Businesses must keep identity verification records for at least 5 years, including copies of IDs, transaction details, ownership records, and agent verification agreements for FINTRAC audits.
  5. Use of Agents for Verification: Third-party agents can verify identities on behalf of reporting entities, but agreements must ensure compliance with FINTRAC rules, and businesses remain responsible for due diligence.

For more, you can refer to the official FINTRAC documentation.

Now, let’s see the document requirements.

Documents Required: What Information to Collect and Verify?

Category Acceptable Documents Notes
Basic Business Information – Legal Business Name

– Operating Name (if different)

– Business Registration Number (BN)

– Type of Entity

– Business Address

– Industry and Nature of Business

 Mandatory for all businesses before verification. This is the first step.
Proof of Business Registration – Certificate of Incorporation (for corporations)

– Partnership Agreement (for partnerships)

– Provincial or Federal Business Registration Document

– Trade Name Registration (if applicable)

 Mandatory depending on business type (corporations and partnerships must provide legal registration).
Beneficial Ownership Information – List of Individuals Owning 25% or More of the Business

– Names, Dates of Birth, and Addresses of Beneficial Owners

– Ownership Percentage and Control Structure

– Proof of Ownership (e.g., Shareholder Register, Articles of Incorporation, Partnership Deeds)

 Mandatory if the entity has multiple owners or shareholders.
Identity Verification of Owners & Authorized Signatories – Government-issued photo ID (Driver’s License, Passport, PR Card, etc.)

– Canadian Credit File Check (Active for 3+ years, if available)

– Dual-Process Method (e.g., Utility Bill + Bank Statement or CRA Tax Document)

 Mandatory for individuals with significant control over the business.
Business Financial Information (If Required for Risk Assessment) – Bank Account Details (Confirming the Business’s Financial Activities)

– Tax Identification Number (GST/HST Registration, if applicable)

– Financial Statements (For due diligence in high-risk cases)

– Proof of Business Operations (Invoices, Contracts, or Website Presence)

 Required in high-risk industries, financial institutions, or if flagged for additional review.

Methods to verify businesses in Canada

Verifying a business in Canada ensures legitimacy, regulatory compliance, and fraud prevention. 

FINTRAC mandates verification based on the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). 

Depending on the business type and risk level, different methods apply. Let’s go through each.

1. Confirmation of Existence Method

The confirmation of existence method is the most straightforward way to verify a business. It requires obtaining official documents that prove the business is legally registered and recognized by a government authority. These documents can include: 

  • Certificate of incorporation for corporations
  • Partnership agreement for partnerships
  • A business license issued by a provincial or federal registry. 

In many cases, verification is done by cross-referencing the provided documents with publicly available business registries or databases, ensuring the business is active and operating as claimed. 

This method is mandatory for most financial and high-risk transactions.

2. Reliance Method

In some cases, a business does not need to be verified from scratch if another trusted reporting entity has already conducted a FINTRAC-compliant verification. This is known as the Reliance Method, which allows one entity to depend on the due diligence work of another. 

For this method to be valid, there must be a written agreement in place that outlines the reliance arrangement and confirms that the initial verification was conducted using approved methods. The entity relying on this verification must still assess the credibility of the original verifier and maintain oversight to ensure compliance with FINTRAC’s regulatory requirements.

3. Simplified Identification Method

Certain businesses are classified as low-risk under FINTRAC’s framework and may be eligible for simplified verification. These typically include government agencies, publicly traded companies listed on recognized stock exchanges, and regulated financial institutions such as banks and securities dealers. 

Instead of collecting extensive documentation, verification can be conducted using publicly available information, such as stock exchange listings, government records, or regulatory filings. 

This method significantly reduces the administrative burden but is only applicable to entities explicitly listed under FINTRAC’s simplified verification rules.

4. Agent or Mandatary Verification Method

Businesses can also be verified through an agent or mandatary who conducts the verification process on behalf of a reporting entity. The agent must follow FINTRAC’s prescribed verification methods, maintain detailed records, and ensure compliance with all regulatory requirements. 

This is often used in cases where businesses operate in different jurisdictions or when third-party professionals, such as lawyers or financial institutions, are better positioned to collect and authenticate the necessary information. 

But note that, even when using an agent, the original reporting entity remains fully responsible for ensuring that the verification meets the required standards, conducting enhanced due diligence when required, and that records are retained for at least five years.

Conducting Business Verifications in Canada at Scale

Some businesses look right on paper but don’t add up in reality. They’re registered, have tax IDs, and check all the basic boxes.

But that doesn’t mean they’re active, legitimate, or low risk. 

Ownership structures can be layered, operations may not match filings, and some entities exist only to move money unnoticed. 

Without a way to verify these details at scale, financial institutions are left piecing together fragmented information, slowing down approvals and exposing themselves to compliance gaps.

That’s where automation changes the game. Instead of relying on manual cross-checks and document collection, you can use Signzy’s UBO Verification APIs to map out ownership structures, identify the real individuals in control, and more, even when businesses are structured to hide them. 

Combined with Signzy’s comprehensive business verification suite, financial institutions can onboard businesses faster, with fewer blind spots and stronger compliance.

Signzy is now available in Canada. 

RBI_kyc_Signzy

Bringing KYC to Every Corner of India with RBI: Video KYC, Security, and More

Posted on | by Tanya Narayan
🗒️ Key Highlights
  • RBI selected Signzy for its regulatory sandbox to pilot unassisted Video KYC, marking a shift toward fully automated verification.
  • Signzy’s vKYC currently supports over half a million video calls every month, with infrastructure tested for concurrency, uptime, and failover scenarios.
  • More than 30 banks, NBFCs, and financial institutions across India trust this system to onboard users every day (not as a pilot, but as part of core business operations).

On April 1, 2025, the Reserve Bank of India will complete 90 years. That’s 90 years of shaping how India banks, saves, invests, and grows. A milestone like this isn’t just about looking back. It’s about taking a moment to see how far the system has come and how many lives it has touched along the way.

Since the early 2010s, we’ve had the chance to be a small part of that journey. From experimenting with digital onboarding to building KYC tools that reach people in the most remote corners, every step has been about making finance simpler and more inclusive.

Let’s take a look at what’s been built together with RBI and the vision that continues to guide what we build next.

A Shared Vision for Inclusive Finance

In a country as diverse and complex as India, where access often depends on geography or circumstance, the ability to engage with formal finance can change lives. RBI has played a central role in enabling this by streamlining processes and setting clear regulatory paths. 

This way, it is now easier for institutions to reach everyone, from the underserved to the urban user.

From the early push to bring banking to rural India to supporting digital payments and UPI, RBI’s intent has been clear: make finance available to everyone, not just the privileged few.

Look closely, and the pattern shows up everywhere. 

  • In villages where branch infrastructure is still limited. 
  • In urban slums, paperwork is often rejected. 
  • In small towns where people want to save, invest, or insure but don’t know how to begin.

Tools need to be built with those realities in mind. Not just high-tech, but high-reach. Not everyone will have perfect documents, a 4G connection, or a quiet room for verification. But everyone deserves a shot.

💡 Related Blog: How has Video KYC Verification evolved in 2023?

At Signzy, we’ve tried to build in the same spirit. From the beginning, our focus has been to make onboarding tools that don’t assume high-speed internet, tech-savviness, or urban infrastructure. If something only works in Tier 1 cities, it doesn’t really work for India.

Our Video KYC journey reflects that belief. And our work with RBI as a partner has pushed us to stretch that belief even further. 

Together, we’re changing what that entry point looks and feels like.

Solving the KYC Bottleneck

For years, KYC has been the silent friction point in financial services. Everything else could be digital (e.g., account opening, app journeys, customer support), but identity verification dragged behind. 

Manual checks took days, required in-person visits, and made the cost of onboarding disproportionately high. Even when financial institutions moved to online flows, the process still broke down too often. Document uploads failed, images were unclear, users didn’t know what went wrong. Completion rates stayed low, especially in rural or low-bandwidth settings.

This is where the bottleneck really showed. Not in policy or in product, but in that one moment where a user had to prove who they were, and the system couldn’t keep up. 

RBI recognized this early. It permitted new methods like video KYC and actively pushed the ecosystem to explore them. Through innovation contests, sandbox environments, and regulatory clarity, it set the tone: identity verification had to become faster, safer, and more inclusive. 

That shift in direction gave space for players like Signzy to build systems that could meet those expectations. Before diving into how Signzy took it a step further, let’s understand how the solution works in general.

How Does Video KYC Work

Good onboarding feels invisible. That’s exactly what video KYC was designed to do. 
Whether someone starts the process from a bank app, website, or shared link, the experience is the same: simple, direct, and fully guided.

Here’s how it works, step by step:

  1. Session starts via a link or embedded widget: Customers begin their journey through a secure web link or in-app flow. No installations and no friction. The front-end handles pre-call checks, network, camera, mic, VPN restrictions, and device compatibility.
  2. Document and PAN verification in real-time: The customer is prompted to show their PAN or other valid ID to the camera. OCR extracts data live, and PAN is verified instantly through APIs. Any mismatch is flagged immediately for correction.
  3. Live face match and passive liveness detection: Advanced AI compares the customer’s face to the document photo, confirming the identity and detecting spoofs (e.g., masks, pre-recorded videos) without interrupting the flow.
  4. Agent joins for final checks and Q&A: A trained KYC agent conducts dynamic questioning guided by configurable rule engines. Responses are assessed alongside captured data, ensuring both compliance and fraud prevention.
  5. Outcome is logged, time-stamped, and audited: The entire session (including video, screenshots, document scans, face match results, and network diagnostics) is logged. All data is stored securely and is accessible through a real-time admin portal and MIS dashboard.

No uploads. No silent failures. Just one clean, human interaction.

The entire process wraps up in minutes, and the user walks away verified. 

What Makes Signzy’s vKYC Solution Powerful

Once the bottleneck was reimagined, it had to be rebuilt with infrastructure that could actually deliver.

Here’s what makes Signzy’s vKYC platform resilient, scalable, and truly inclusive:

  • Works on 75 kbps connections: Designed to operate even on low-speed mobile data, making it accessible to users in remote or low-infra bandwidth regions.
  • Supports 9 Indian languages: The interface, prompts, and agent workflows are multilingual by design, so customers aren’t forced to navigate in a language they’re not comfortable with.
  • Advanced spoof and liveness detection: Detects pre-recorded videos, static images, or screen replays in real-time, protecting against fraud without requiring heavy backend checks.
  • 300+ concurrent calls supported: Built to handle large-scale deployment across multiple regions and teams without performance dips or scheduling conflicts.
  • Built-in chat, rejoin, and queueing systems: If a call drops or load spikes, the session isn’t lost. Customers can rejoin, chat with support, or reschedule without restarting the process.
  • 96% conversion rate across implementations: Higher completion rates, fewer retries, and increased application acceptance, resulting in lower onboarding costs and faster go-to-market for partners.
  • Real-time dashboards and automated MIS reports: Get full visibility into call volumes, agent activity, and session outcomes with a 360° dashboard. Daily MIS reports are generated automatically, offering transparency without manual effort.

This feature set was built with India’s unique environments in mind and the belief that inclusion can’t wait for perfect conditions.

Related Resources

Video KYC

Liveness Check

Face Match

Now, the question of security arises. Let’s address that as well.

Security Standards

When it comes to KYC, speed means nothing without security. Every session on Signzy’s platform is encrypted end-to-end and stored with full regulatory compliance. 

The system is ISO 27001:2013 and SOC 2 Type 2 certified, with built-in controls for data privacy, audit trails, and secure access across every layer, from agent interfaces to backend dashboards.

Even India’s top regulators have acknowledged this push. 

Recognition and Regulatory Collaboration

Regulatory bodies and industry forums played a key role in shaping the direction of what Signzy has built.

  • RBI Payments Innovation Award (2016 & 2018): Early recognition that identity verification could be reimagined using digital-first infrastructure without compromising on compliance.
  • Limited Use Authorization for Unified KYC (2022): Approval to enable broader adoption of seamless, cross-platform KYC journeys under a regulated framework.
  • RBI Sandbox for Unassisted Video KYC (2024): Selected for testing fully automated KYC flows, moving beyond assisted models, and pushing the envelope on trust and scale.
  • IFSCA Global FinTech Hackathon Winner: Chosen among top global solutions for regulatory-grade innovation in onboarding and identity.
  • IAMAI RegTech & Fintech Awards (2018–2021): Repeatedly recognized as the most innovative provider in KYC, compliance automation, and financial data handling.
  • India Fintech Forum – IFTA Awards: Acknowledged for best-in-class RegTech design and operational excellence across consecutive years.

vKYC Use Cases

vKYC’s real strength is how it fits across different parts of the financial ecosystem. Wherever identity verification is a barrier, video KYC makes the process faster, safer, and easier to scale.

Use Case How vKYC Helps
Bank Account Opening Fast, compliant onboarding without physical visits
Loan Disbursals Real-time verification before funds are released
Insurance Onboarding Policyholder validation with live checks
Mutual Fund KYC Quick activation for first-time investors
Pension & Retirement Plans Enables remote onboarding for older or rural users
Credit Card Issuance End-to-end digital application and KYC validation
CKYC Record Creation Seamless upload and verification into the central KYC

We offer this through a robust Video KYC API as well as a comprehensive KYC suite that includes DigiLocker, Aadhaar verification, and more. Built to plug into existing systems or run as a full-stack solution, it’s trusted by 30+ institutions across India, including the likes of Union Bank, Citi Bank, Tata Mutual Fund, Aditya Birla Capital and more.

And we’re just getting started.

Closing note

A heartfelt thank you to the Reserve Bank of India and every partner who placed their trust in this journey. We’ve come a long way together, but the work is far from done. Onboarding should feel simple, safe, and seamless—no matter who you are, where you’re from, or what device you’re on.

RBI_tribute to the RBI

A Tribute to the RBI: 90 Years of Steady Hands and Bold Steps

Posted on | by Tanya Narayan

The Reserve Bank of India is turning 90 on April 1, 2025. It’s more than an anniversary. It’s a moment to pause and look at how far India’s financial system has come, and how quietly the RBI has shaped that progress.

From managing currency in the early years to supporting digital payments today, the RBI has stayed focused on building stability, access, and trust in finance. Its role has changed over the decades, but the intent has remained steady.

At Signzy, we’ve been fortunate to contribute to this journey since the 2010s. Our work has aligned with the RBI’s vision in areas like KYC, compliance, and digital transformation.

This blog is our way of saying thank you. A reflection on how RBI’s approach to regulation has grown over time, especially in the world we know best (digital banking, fintech, and identity).

Let’s start by seeing where it all started. 

Reserve Bank of India’s Origins

On April 1, 1935, when the Reserve Bank of India opened its doors, few would have imagined the journey it would undertake. The RBI was India’s answer to chaotic currency systems (India witnessed over 570 bank failures in the 1940s alone), frequent bank failures, and a lack of centralized monetary control. 

It began as a private entity, regulating currency and acting as banker to the government, but post-independence, it was nationalized in 1949. From that point on, the RBI started shaping India’s economic destiny.

In many ways, RBI is like the infrastructure we don’t see but which never fails. It has walked with India, through wars, reforms, scams, crises, liberalization, pandemics, and digitization. And every time, it has emerged with credibility intact.

RBI’s Timeline of Transformation

The RBI’s journey is filled with moments that quietly changed the way India banks, transacts and trusts the system. Here are 20 key turning points.

  1. 1935 – RBI begins operations on April 1 as a private shareholders’ bank, focusing on currency issuance and acting as a banker to the government.
  2. 1949 – RBI was nationalized and gained legal authority to supervise and regulate commercial banks under the Banking Regulation Act.
  3. 1955 – RBI helps set up the State Bank of India to expand banking services and act as a development arm in rural India.
  4. 1961 – Launches Deposit Insurance in the wake of bank failures, protecting small depositors. A first in Asia.
  5. 1969 – Executes nationalization of 14 major commercial banks; priority sector lending norms and branch expansion in rural India follow.
  6. 1980 – Six more banks are nationalized; RBI deepens focus on inclusive banking and cooperative sector regulation.
  7. 1991 – In the wake of a balance of payments crisis, RBI starts deregulating interest rates, launches monetary policy reforms, and liberalizes banking.
  8. 1993 – Licenses new private sector banks (e.g., ICICI Bank, HDFC Bank), bringing competition and innovation into mainstream banking.
  9. 1997 – Gets power to regulate NBFCs under revised RBI Act, important for managing India’s fast-growing shadow banking space.
  10. 2002 – Introduces Real-Time Gross Settlement (RTGS) system, ushering in real-time payments for high-value transactions.
  11. 2008 – Responds swiftly to global financial crisis by ensuring liquidity, while maintaining capital buffers and strict NPA recognition norms.
  12. 2010 – Launches Base Rate system, replacing benchmark prime lending rate for more transparent pricing of loans.
  13. 2016 – Monetary Policy Committee (MPC) established, RBI now sets interest rates through a structured, inflation-targeting framework.
  14. 2017 – Formal rollout of UPI gains momentum; RBI supports rapid fintech growth while refining oversight on digital payments.
  15. 2018 – Tightens norms for NBFCs and cooperative banks after IL&FS crisis; begins cleanup via PCA and stricter provisioning.
  16. 2020 – Allows Video KYC during COVID, accelerating remote onboarding; also launches regulatory sandbox for fintech innovation.
  17. 2021 – Rolls out scale-based regulation for NBFCs, classifying them by systemic importance to reduce regulatory arbitrage.
  18. 2022 – Releases guidelines for Digital Lending, curbing predatory practices and enforcing direct disbursals and transparency.
  19. 2022–23 – Initiates CBDC (Digital Rupee) pilots (wholesale and retail) to explore programmable, sovereign-backed digital currency.
  20. 2024 – UPI becomes globally accepted in multiple countries; RBI actively collaborates on cross-border payment frameworks (Project Nexus, etc.).

Achievements Over the Decades

Deposit Insurance Priority Sector Lending Bank Nationalization

Protected small depositors during bank failures. First of its kind in Asia

Ensured credit flow to agriculture, small businesses, and weaker sections

Brought banks under public control to push financial inclusion at scale
UPI & Digital Payments

Spearheaded UPI, enabling 14B+ monthly transactions and global adoption

 Video KYC Enablement

Simplified remote onboarding, helping expand access in rural/low-infra areas

 CBDC Rollout

Initiated central bank digital currency pilots for retail and wholesale transactions
NBFC Scale-Based Regulation

Structured NBFC oversight based on size and risk to prevent regulatory arbitrage

 Monetary Policy Committee (MPC)


Created a formal, data-driven framework for inflation-targeting via MPC

 Robust Crisis Management

Navigated IL&FS, COVID, and global crises without major financial system failures

Collaboration with Signzy

It’s not every day that a startup gets to co-create with the central bank of a nation. At Signzy, we consider it a privilege.

We were recognized by RBI through the Payments Systems Innovation Awards in 2016 and 2018. More recently, in 2024, we were awarded a place in the Regulatory Sandbox for Unassisted Video KYC, one of the most forward-looking initiatives in digital onboarding.

In our journey, we’ve contributed to making KYC more accessible. Working with banks and regulators, including under RBI’s guidance, we’ve enabled verification, helped rural banks onboard users with minimal infrastructure, and reduced drop-offs in onboarding with AI-powered ID verification.

Our systems now power parts of the digital onboarding stack for several institutions governed by RBI. 

Signing Off

RBI’s story mirrors India’s story. Full of resilience, reinvention, and quiet conviction.

And for those of us building at the intersection of finance and technology, the RBI is more than just a regulator. 

It’s a reason. 

A reason why India could go from long queues in bank branches to instant bank transfers on mobile phones.

We’re proud to have played a small role in this journey, making digital identity more inclusive, KYC more seamless, and compliance less intimidating.

Here’s to 90 years of the Reserve Bank of India. Thank you for being the invisible force that keeps India’s financial heart beating.

And here’s to the next decade. Where trust will still matter, but so will speed, access, and adaptability. 

We’re building for that future, with you. ♥️

RBI

Complying RBI’s New MNRL Guidelines: 11 Key Questions Answered

Posted on | by Agrima Dwivedi
🗒️  Key Highlights
  • When financial institutions verify a number against MNRL, they can detect if it has been compromised and prevent fraud before it happens.
  • Without this check, banks might unknowingly send OTP codes and account reset links to fraudsters instead of legitimate customers.
  • If your business processes transactions, credit approvals, or KYC using mobile numbers, MNRL compliance is a must.

A mobile number is supposed to be personal. But what happens when it isn’t?

A number gets deactivated. The telecom provider reassigns it. Now, someone else has access to messages, calls, and possibly sensitive financial details that weren’t meant for them. 

Meanwhile, banks and fintechs continue sending OTPs, approving transactions, and verifying users, without realizing the number is no longer in the right hands.

This is why RBI released the new MNRL guidelines on January 17, 2025.

If your operations rely on mobile numbers for customer verification, onboarding, or transactions, you need to comply with these guidelines by March 31, 2025.

If you’re still unsure about what this means, we’ve answered the 11 most common questions below.

Let’s dive in.

1.

What is the Mobile Number Revocation List (MNRL)?

The Mobile Number Revocation List (MNRL) is a database of permanently deactivated numbers that financial institutions must check before linking to customer accounts. It’s published on TRAI’s platform every month, with data sourced from telecom operators under DoT’s guidelines.

Think of it as a reference list of numbers that should not be used for financial transactions because they were permanently deactivated. 

Banks, NBFCs, and fintechs must cross-check their customer numbers against MNRL to avoid fraudsters sneaking into their systems.

Ignoring this list means taking a huge risk (e.g., unauthorized transactions, money mules, and regulatory penalties). Financial businesses that rely on mobile authentication can’t afford to skip this check.

2.

Why has RBI made MNRL compliance mandatory?

Fraudsters have too many tricks when it comes to mobile numbers. Some use SIM swap fraud to intercept OTPs, others register fake numbers with banks, and some exploit old, reassigned numbers to access financial accounts.

Until now, financial institutions had no standardized way to check if a number was permanently deactivated. MNRL provides a centralized list to help them clean up outdated records.

If a bank sends an OTP to a number that has changed hands, the risk of unauthorized access increases. Money moves fast, and reversing fraudulent transactions is nearly impossible.

So, the RBI stepped in. MNRL is now a hard requirement. Financial institutions must verify numbers against MNRL to prevent fraudulent activity and remove flagged numbers from their database.

3.

Which businesses must follow MNRL regulations?

Anyone handling financial transactions linked to mobile numbers. That includes:

  1. Banks (Commercial, Small Finance, Payment Banks, Cooperative Banks)
  2. NBFCs (Including lending startups, housing finance, and microfinance companies)
  3. Payment Aggregators & Wallets
  4. Credit Information Companies
  5. Loan and BNPL providers

If mobile numbers are part of customer onboarding, transaction verification, or fraud prevention, MNRL compliance is non-negotiable. 

Even fintech startups running KYC checks must integrate this.

And no, it doesn’t matter if a company is big or small, if it holds a financial license, it must comply.

💡 Related Blog: Combating Subscription Fraud in Telecom
4.

How can banks and fintechs access the MNRL database?

There are two ways to check numbers against MNRL:

  1. Manual lookup: Financial institutions can log into the Digital Intelligence Platform (DIP) and check numbers one by one. Not ideal for businesses with large customer bases. It’s slow and requires constant updates.
  2. Automated API integration: The smarter option. Signzy offers an MNRL API that instantly verifies numbers in real time. This lets businesses automate the process and flag risky numbers before they cause trouble.

For high-volume businesses, manual checking isn’t practical. Fraud prevention needs speed, and an API integration removes the human delay.

5.

What is the deadline for MNRL compliance?

RBI has set March 31, 2025, as the deadline for financial institutions to implement MNRL compliance. By this date, banks, NBFCs, fintechs, and Payment aggregators should integrate MNRL checks to ensure they are not processing transactions or sending OTPs to deactivated numbers, reducing the chances of account misuse.

6.

What’s the fastest way to meet MNRL compliance before the deadline?

The March 31, 2025 deadline is fast approaching, and businesses must act immediately. The quickest way to get everything in place is to automate the process with an API instead of relying on manual checks.

Here’s how to speed things up:

  1. Integrate an MNRL API: Use Signzy’s MNRL API to eliminate manual verifications and automatically screen numbers in real time. This ensures flagged or deactivated numbers don’t slip through during customer onboarding or transactions.
  2. Run a bulk database check: Cross-check all existing customer numbers against MNRL to remove flagged entries.
  3. Update internal workflows: Ensure new customer onboarding and transaction approvals include automatic MNRL checks.
  4. Remove disconnected numbers: Fraud and risk teams need to know how to handle flagged numbers and prevent misuse.

Rushing compliance at the last minute creates operational bottlenecks and increases risks. Automating verification now ensures seamless compliance without disrupting business.

7.

How does MNRL actually prevent fraud?

Most fraudsters don’t use their real names or IDs. They rely on burner numbers and stolen identities to trick financial institutions.

MNRL helps prevent misuse by ensuring financial institutions do not process transactions using:

  • Deactivated numbers that may have been reassigned
  • Long-inactive numbers that could be exploited for fraudulent activities

For financial institutions, this means fewer fake KYC approvals, fewer hacked accounts, and fewer fraudulent transactions.

A flagged number should be immediately blocked from being used for banking, credit applications, or payments. Without this check, businesses are basically inviting fraudsters to exploit their system.

8.

What happens if a bank or NBFC doesn’t comply with MNRL regulations?

RBI has set strict penalties, and financial institutions that ignore MNRL risk:

  • Telecom restrictions: Banks or fintechs that keep using risky mobile numbers may have their telecom resources (SMS/call services) suspended for up to 2 years, per  TRAI’s commercial communication rules. That means no customer outreach, no OTPs, no transaction alerts.
  • Regulatory action: Institutions that fail to clean up their databases may face audits, penalties, or even restrictions on business operations.
  • Fraud liability: If a fraud happens due to an unverified number, the institution could be held responsible. This includes legal consequences, financial losses, and brand damage.

Most fintechs and banks run on trust. Customers won’t think twice before switching if they feel their data or transactions aren’t secure. As a result, MNRL compliance becomes necessary.

9.

Can financial institutions still call customers using regular phone numbers?

No. RBI has enforced strict numbering rules to eliminate fraud calls and scams. Banks and NBFCs can no longer make transactional or promotional calls from random 10-digit mobile numbers.

Here’s how calls must be handled:

  • Service & Transactional Calls: Must come from the ‘1600xx’ series (this will be activated soon).
  • Promotional Calls: Must use ‘140xx’ series.
  • No regular 10-digit mobile or fixed-line numbers should be used for any official communication.

This prevents fraudsters from spoofing customer care numbers and tricking people into revealing sensitive details.

10.

Does MNRL only apply to banks, or do fintech startups need to comply too?

Every financial institution that relies on mobile numbers for authentication or transactions must comply, including fintechs, lending startups, and payment service providers.

A common misconception is that only large banks are affected. That’s not the case. Even startups offering BNPL (Buy Now Pay Later), microloans, or prepaid wallets need to check customer numbers against MNRL.

This regulation is especially relevant for fintechs, since many of them onboard customers using digital KYC, where fraudsters often exploit loopholes. Many also depend on SMS and call-based authentication, which can be hijacked if numbers aren’t verified. Therefore, yes, MNRL compliance is a must even if you are fintech.

11.

Can businesses manually verify numbers instead of using an API?

Technically, yes. Practically, it’s a nightmare.

Manual verification involves logging into the DIP platform and checking numbers one by one. This might work for small businesses with a few dozen customers, but for banks, NBFCs, and fintechs handling thousands or millions of transactions, manual checks don’t scale.

Here’s why API integration is the only logical choice:

  • Verification checks: API solutions validate numbers before transactions or onboarding.
  • Automated monitoring: The system can continuously screen customer databases for newly flagged numbers.
  • Faster fraud prevention: Fraudsters move fast. An automated system catches them before they cause damage.

For high-volume businesses, manual checks are slow, error-prone, and impossible to maintain at scale. An API automates this seamlessly, running checks in real time without disrupting operations. 

Signzy’s MNRL API enables financial institutions to automate verification, ensuring customer numbers are screened against the latest MNRL dataset. This helps businesses prevent fraud, maintain clean databases, and stay compliant without manual intervention.

To know more about Signzy’s Mobile Number Revocation List API, book a demo here.

KYC documents required for UAE customer verification

UAE KYC Document List: Requirements by Customer Type [2025]

Posted on | by Agrima Dwivedi
🗒️  Key Highlights
  • In a 2023 evaluation, the UAE achieved notable FATF ratings: Compliant for 15 and Largely Compliant for 24 of the 40 Recommendations.
  • The requirements to verify individuals and corporate customers in the UAE are totally different, demanding comprehensive knowledge.
  • Violations of KYC and AML regulations face strict enforcement measures, with penalties ranging from financial fines to imprisonment.

Collecting KYC documents in the UAE isn’t exactly anyone’s idea of a good time. Yet here you are, tasked with making sure your business gets it right. 

And with financial penalties that can make your CFO break out in a cold sweat, the stakes couldn’t be higher. So, if you came here looking for a straight-shooting guide to KYC document collection in the UAE, perfect – you got exactly that. 

Let’s start right away.

UAE KYC Document Requirements for Individual Customers 

Running a UAE business means you’ll be collecting KYC documents from individual customers pretty regularly. And while it might seem straightforward, there’s more to it than just grabbing a copy of someone’s Emirates ID.

Document Required Purpose
Emirates ID (Latest version) Serves as primary identity verification and confirms UAE residency status
Valid Passport Verifies nationality, provides secondary identification, and required for non-residents
UAE Visa Page Confirms legal residency status and duration of stay
Proof of Address (< 3 months old) Establishes current residential location and validates contact details
FATCA/CRS Self-Certification Determines tax residency status and ensures international compliance
Source of Funds Declaration Creates transparency about income sources and helps assess risk levels
Recent Photograph Enables visual verification and maintains updated records
Specimen Signature Provides a baseline for future transaction verification
💡 Related Blog: How to Verify Bank Accounts in the UAE?

UAE KYC Document Requirements for Businesses and Corporate Customers

Corporate KYC is like peeling an onion – there are multiple layers to verify, and yes, sometimes it might make you want to cry. 

Document Required Purpose
Trade License Confirms legal registration and permitted business activities
Certificate of Incorporation Verifies company formation and registration details
Memorandum & Articles of Association Outlines company structure and operational framework
Board Resolution Authorizes specific individuals to act on the company’s behalf
Shareholder Registry Maps ownership structure and identifies major stakeholders
UBO Declaration Identifies ultimate beneficial owners with >25% ownership
Director Details & IDs Verifies the identity of all board members and decision-makers
POA Holder Documents Validates authority of designated representatives
Business Bank Statements (3 months) Demonstrates financial activity and transaction patterns
Entity FATCA/CRS Forms Confirms tax residency status and reporting obligations

Now, these were requirements for any normal corporation and businesses. But if your customer base includes non-financial businesses and professions, you need to collect some additional documents. 

Designated Non-Financial Businesses and Professions (DNFBPs) UAE KYC Document Requirements

If you are dealing with – Real estate agents, law firms, accounting practices, precious metal dealers and such businesses in UAE – you’d need to collect some additional documents than normal businesses and individuals. 

Everyone’s KYC requirements are unique because their risks are different. Not complete, but here’s the list you can refer to along with collecting some sector-specific documents.  

Document Required Purpose
Professional License Validates authority to operate in a regulated sector
Registration Certificate with Supervisory Authority Confirms compliance with sector-specific regulations
Beneficial Ownership Declaration Maps control structure beyond 25% ownership
Partner/Owner Identity Documents Verifies key stakeholders’ backgrounds
Business Activity Profile Establishes the nature and scope of operations
Compliance Officer Appointment Shows commitment to regulatory requirements
Risk Assessment Documentation Demonstrates understanding of sector-specific risks
AML Policy & Procedures Proves the existence of internal controls
Staff Training Records Confirms ongoing compliance awareness
Transaction Monitoring Framework Shows capability to identify suspicious activities

While verifying DNFBPs in UAE, you’re often dealing with professionals who know the rules but might be resistant to extensive documentation. Be ready to make it clear that proper KYC protects their practice as much as it protects you.

UAE KYC Document Requirements for Trusts and Non-Profit Organizations

Trusts and NPOs require extra scrutiny – not because they’re inherently risky, but because their structures can be complicated and their activities often cross borders.

Trust and NPO verification in UAE is like a detailed family portrait – you need to capture every relationship, every flow of funds, and every decision-maker in the picture.

Document Required Purpose
Trust Deed/NPO Constitution Establishes legal framework and operational scope
Founder/Settlor Documentation Identifies the source of assets and founding purpose
Trustee Appointment Documents Verifies authority of asset managers
Beneficiary Information Maps out who ultimately benefits from the structure
Council Member Details Confirms the identity of governing body members
Source of Donations (NPOs) Tracks the origin of funds and ensures legitimacy
Annual Financial Reports Shows pattern of activities and fund distribution
Regulatory Approvals Validates compliance with UAE charity regulations
Guardian Details (if applicable) Identifies oversight personnel
Project Implementation Reports (NPOs) Documents how funds are being used

Related Solutions


KYC API

UBO Check API

Identity Verification API

The layered nature of these organizations can make it tricky. 

A trust might have beneficiaries who are themselves other trusts. An NPO might receive donations through complex channels. Your job is to untangle these threads without getting caught in them.

You can create a visual mapping tool for these structures. Sometimes seeing the relationships drawn out makes verification easier and helps spot potential risks you might miss in text-only documentation.

Verifying the collected UAE documents

Having a stack of KYC documents doesn’t mean you’re actually meeting compliance requirements. The real challenge kicks in when you need to verify each document’s authenticity, cross-reference details across multiple sources, and maintain ongoing monitoring. All while keeping your customer onboarding smooth and swift.

In a region where regulatory scrutiny is intensifying and penalties for non-compliance can be severe, the margin for error is basically zero. 

Even worse, high-quality forgeries are just a few clicks away nowadays – traditional eyeball-and-approve methods just don’t cut it anymore. 

That’s where Signzy steps in, offering targeted solutions for UAE businesses. Our KYC Verification API handles everything from Emirates ID validation to corporate document verification, while our Identity Verification Suite ensures comprehensive individual authentication. 

For corporate clients, our UBO and Criminal Screening APIs add that extra layer of security your compliance team needs. Because at the end of the day, verification shouldn’t be your bottleneck – it should be your strength.

How to conduct proof of income verification UAE

How to Conduct Proof of Income Verification in UAE | Step-by-Step Process

Posted on | by Tanya Narayan
🗒️ Key Highlights
  • UAE lacks a government system for tracking income, leaving banks, landlords, and employers to rely on self-reported data or documents, which can lead to discrepancies in verification.
  • Using bank statements for income verification is common, but these can be easily manipulated, complicating the verification process for institutions.
  • Without income tax, there are no government records to verify earnings, leaving employer-issued documents vulnerable to manipulation.

Numbers don’t lie. 

But they certainly know how to hide.

You might glance at a pay stub or a bank statement and think you’ve got everything you need. Sometimes, those small details – the ones you might overlook – can be the ones that matter most.

Verifying income is not always as clear-cut as it seems, especially in UAE where endless types of income categories coexist. Doing this right is about more than just crossing off a checklist. 

It’s about making sure everything adds up, not just for the sake of compliance but because you want to get it right from the start. 

You don’t want to be left scrambling later on because a tiny thing wasn’t caught early right? 

Got 6 minutes? Let’s walk through the steps to ensure your income verification in the UAE is spot on. We’ll make it easy.

What is Proof of Income – Quick Definition

Proof of income refers to official documentation that validates a person’s earnings and financial stability. In the UAE context, this encompasses various financial records such as salary certificates, authenticated bank statements, and formal employment documentation. 

Common income verification documents in the UAE include salary certificates (issued by employers), bank statements showing salary transfers, and Emirates ID-linked income certificates. For business owners, valid trade licenses and audited financial statements serve as proof of income. 

How to Verify Proof of Income of Different Categories in UAE

Small but mighty – that’s what makes proof of income verification for non-traditional earners in the UAE so interesting. Their income patterns might not follow the usual paths, but verification strategies make all the difference. Let’s see exactly how to handle these unique cases:

💡 Related Blog: UBO Check Guide UAE

Regular Employed Professionals

The fastest and most reliable way to verify proof of income of an employed professional in the UAE starts with obtaining a valid salary certificate. This document must be less than 30 days old and needs to come directly from the employer’s HR department. 

What makes a salary certificate trustworthy? 

  • Check the company’s official letterhead, stamps, and authorized signatures. 
  • Contact HR directly – yes, every single time. 
  • Match everything against bank statements showing consistent salary transfers. 

When these align, that’s solid proof worth trusting. This three-way verification catches most discrepancies early in the process.

It should be simple since salary usually makes up most of the income of employed professionals. But it doesn’t mean they can have only one source of income. While verifying proof of income, consider all income streams they have, along with salary. Dividend earnings, rental earnings, and consulting fees are some examples. 

Business Owners & Investors

In the UAE, you are obliged to verify business before dealing with it. Verifying for proof of income carries even more weight in this category. 

Business owners’ proof comes from multiple sources. Start by checking valid trade licences, recent bank statements, and audited financials. 

Start establishing patterns of sustainable income now. Look for regular transfers between business and personal accounts. Check how profit distributions match declared income – the numbers should align across all documents.

Freelancers & Independent Contractors

Freelance income verification requires a different approach than traditional employment. Most freelancers in the UAE work with multiple clients or through digital platforms, creating a distinct income pattern.

Examine:

  • Client agreements alongside bank statements. 
  • Contract if they can provide
  • Deposits that match contract values
  • Analyze payment frequency. 

Most importantly, monthly bank statements should reflect a consistent flow of business transactions, even if amounts vary. Pay attention to their freelance platform income as well, if any. Payoneer, Upwork, or direct client transfers are some examples. Then, cross-reference these with freelance contracts and client invoices to see how they match the declared income. 

Related Resources

OCR API

Identity Verification

VIN Data API

Variable Income Professionals

Professionals with performance-linked income need comprehensive verification. These professionals earn through multiple components – fixed pay, commissions, incentives, and bonuses. 

To verify, examine each income stream separately before building a complete picture. Track regular base salary deposits alongside performance payouts through bank statements. Here, the goal should be finding predictable patterns in their total monthly earnings despite varying commission amounts.

Spot Red Flags

While automated tools help catch many issues, knowing what to watch for manually remains crucial. Be extra cautious if you spot any of these red flags:  

🚩 Salary certificates missing official company stamps or authorized signatures – often indicate unauthorized alterations

🚩 Bank statements showing irregular salary credit patterns without proper explanation

🚩 Employment details that don’t match between salary certificate and bank records

🚩 Unexplained large deposits appearing alongside regular salary credits

🚩 Company information that can’t be verified through official UAE business registries

🚩 Multiple versions of the same income document with contradicting information

🚩 Salary amounts that vary significantly month-to-month with no documented reason

🚩 Document dates showing signs of manipulation or alteration

🚩 HR contact information that doesn’t match official company records

🚩 Income levels far above typical industry standards for the stated position

🚩 Salary certificates missing mandatory UAE allowance breakdowns

🚩 Bank statements containing suspicious patterns of round-number transactions

🚩 Income documents lacking essential details like trade license numbers or employee IDs

🚩 Salary certificates older than the standard 30-day validity period

🚩 Commission earnings that don’t align with documented bank deposit patterns

Use Technology To Verify Proof of Income in UAE

Digital verification tools have changed the game, making instant checks possible through banking APIs and digital solutions. 

Bank APIs can validate accounts and transaction histories in real time, while OCR technology extracts data from salary certificates automatically – reducing errors and verification time. Business verification APIs help confirm company details and employee status instantly, making HR verification more reliable.

It’s important to note that the verification systems you use will make a world of difference. The right system makes the difference between catching red flags early and dealing with verification failures later.

That’s where integrated verification platforms like Signzy make a measurable impact. By combining essential verification APIs – from bank account validation and OCR technology to KYC and business verification – into a single platform, organizations can streamline their entire income-proof verification process. 

With this unified approach, you can conduct faster verifications and reduce manual errors through a single integration point (while staying compliant).

What is Vehicle RC Verification

What is Vehicle RC Verification? Role in KYC and Implementation Steps Explored

Posted on | by Agrima Dwivedi
🗒️ Key Highlights
  • With over 296 million vehicles in the US (2024 data), verifying RCs is critical to identify the small but dangerous percentage that are unregistered and potentially tied to crime.
  • Checking RCs can stop businesses from unknowingly assisting terrorists or criminals who exploit unregistered vehicles to transport contraband or plan attacks.
  • Thorough RC verification protects businesses from deceptive “title washing” schemes that hide a vehicle’s checkered past, like serious damage or salvage history.

Remember how a simple barcode completely changed retail checkout? It replaced manual price entry with a simple scan-and-go process.

Sometimes the most powerful solutions aren’t the most complex ones. They’re the everyday tools we’ve been using all along – just used more intelligently.

Vehicle RC verification fits that pattern perfectly. 

At first glance, it’s a straightforward document check – just one of many in the KYC process. But look closer, and you’ll find it’s actually a uniquely reliable source of verified information, connecting multiple crucial data points in your KYC verification process.

It’s not just about confirming someone owns a vehicle – it’s your window into asset verification, address proof, and authenticity all wrapped into one neat package.

Ready to make registration certificates work harder for you? 

This 6-minute guide covers the complete picture of RC verification: how it works, why it matters, and practical ways to implement it in your daily operations.

💡 Related Blog: What Is Identity Verification Process

What is Vehicle RC verification?

Vehicle RC verification is a process where registration certificates are checked against official motor vehicle records to confirm they’re authentic and valid. This verification examines key document elements including vehicle identification numbers (VIN), ownership details, registration dates, and lien information.

Vehicle Registration Certificate (RC) is an official document that serves as proof of ownership and registration of a vehicle. Verifying RC is similar to checking a birth certificate – it’s about making sure the document truly represents what it claims.

While most people simply see RC as their vehicle’s paperwork, these certificates quietly serve as trusted connectors between vehicle owners and the dedicated systems that help maintain road safety and security for everyone. It includes:

  • VIN: Unique 17-digit vehicle identification number
  • License plate number: Assigned by state DMV to visibly identify vehicle
  • Owner name and address: Current registered owner(s) listed
  • Vehicle details: Make, model, year, body type, color
  • Title status: Notes if the vehicle has clean or salvage title
  • Registration dates: Effective and expiration dates of current registration
  • Fees paid: Lists registration fees, taxes and charges paid
  • Other state-specific data: May include weight, fuel type, odometer reading, etc.

When organizations look at these certificates, they’re really opening a window into maintained state databases that protect information about every properly registered vehicle. This matters because it helps keep both vehicle owners and businesses safe from potential problems.

Role of RC Verification in KYC Process

RC verification acts as a trusted friend in the know-your-customer (KYC) process, offering reliable, government-verified information about both assets and identity. 

Businesses, especially those in finance, spend considerable time making sure they truly verify who their customers are – it’s a responsibility they need to take seriously. That’s where Registration certificate verification becomes their reliable partner in this important work, helping build trust in several meaningful ways:

  1. Asset ownership proof: Registration documents create a clear, caring connection between people and their vehicles. This matters when someone applies for a loan or insurance – it helps everyone feel secure about who owns what.
  2. Address verification: Within those registration details lies something valuable for everyone involved – proof of where someone calls home. Businesses can match this address information with other documents, creating a system of verification that benefits both the institution and the customer.
  3. Identity cross-reference: RC verification adds an additional layer of identity confirmation by cross-referencing the details against other identification documents. This systematic comparison helps businesses validate customer identities while maintaining efficient processing times.
  4. Fraud prevention: Beyond simple identity checks, RC verification offers rich information about the vehicle itself. This helps lenders make informed, fair decisions about loans that work well for everyone involved.
  5. Meeting compliance: Federal regulations ask financial institutions to be thorough when verifying customer identities. RC verification helps meet these important requirements while creating clear records that show how carefully each step was handled.
  6. Insurance status verification: RC verification allows institutions to check current insurance coverage status through official records, providing important data points for risk evaluation and lending decisions.
  7. Improved customer profiling: RC verification data contributes to understanding customer assets and financial positions, helping institutions recommend appropriate financial products based on verified information.

Long story short, registration certificates act as a bridge that connects different pieces of information to create a complete picture of someone’s identity.

Step-by-Step RC Verification Process

Creating an effective RC verification system means balancing security with simplicity. Can be complex but fret not – we’ve designed one you can use:

Document Collection and Preparation 

Before starting the verification process, establish clear guidelines about required documentation. 

Every RC verification needs the original or digital registration certificate, but supporting documents make the process more reliable. Create a standardized checklist that includes state-specific requirements and share it with all verification staff.

Here are four documents you must collect for RC verification:

  1. Registration certificate (original or authorized digital copy)
  2. Current government photo identification
  3. Recent proof of address (utility bills, lease agreements)
  4. Active insurance documentation

Also, some states require additional forms. So it’s suggested that you check local requirements and collect any additional forms your state requires to prevent delays later.

Initial Document Review Procedures

This is where attention to detail truly matters. Every piece of information on the registration certificate needs careful review. Numbers should match across documents, dates should make sense, and names should be consistent. Small discrepancies often point to issues that need addressing early in the process.

For additional security, you can consider implementing a dual-review system where a second staff member validates initial findings.

Related Resources

DL Verification API

Business Verification API

Ein Verification API

Database Cross-Reference Methods

Now that you have all the documents for RC verification, connect with official motor vehicle databases to verify your registration status. When reviewing results, look for:

  • Name consistency across all documents
  • Date validity and sequence
  • Complete VIN history review
  • Address verification
  • Active status checks

 

Manually doing this check can be a bit full of hassles. However, modern verification systems can check multiple databases simultaneously, creating a more complete picture. 

Results Analysis and Response Protocols

Create detailed records of findings from each verification step. Note both matches and discrepancies clearly, explaining their significance. For successful verifications, outline the next steps for moving forward with transactions. 

When issues arise – when information doesn’t match perfectly across sources – follow a structured resolution approach: 

  • Level 1: Review original documents carefully – often simple corrections resolve issues
  • Level 2: Contact document providers with specific questions
  • Level 3: Request focused additional documentation
  • Level 4: Involve supervisory review when needed

Methods of RC Verification: Manual, Online, and API Solutions

Verifying registration certificates comes down to one essential goal: confirming authenticity efficiently while maintaining security. You can achieve it using any of the three methods. However, all come with distinct advantages for different situations.

    1. Manual Verification Method 

Manual verification remains valuable for situations requiring direct document examination. This traditional method involves physical inspection of registration certificates and supporting documents.

The process typically starts with document authenticity checks – examining paper quality, watermarks, and security features that distinguish genuine certificates. Staff members trained in document verification look for specific markers while maintaining careful records of their findings.

A secondary manual check involves reaching out directly to state motor vehicle departments. While this takes more time, it provides an extra layer of certainty for high-value transactions or cases requiring special attention.

    2. Online Portal Verification 

State motor vehicle departments now provide secure online portals that simplify the verification process. These systems allow authorized users to input registration information and receive immediate validation results.

What makes these portals particularly helpful is their direct connection to current registration databases. When someone enters a vehicle’s information, the system checks against real-time records. This means organizations can verify the following:

  • Current registration status
  • Owner information accuracy
  • Registration expiration dates
  • Any recorded liens or restrictions

The process typically takes minutes rather than hours or days while maintaining security through encrypted connections and controlled access protocols.

    3. API Integration Solutions 

For organizations handling regular verification needs, API (Application Programming Interface) integration offers consistent, automated verification. These systems connect directly with motor vehicle databases through secure channels.

Think of APIs as digital assistants that handle verification tasks automatically. When someone submits registration information through an organization’s system, the API starts all the heavy lifting.

This automation helps reduce errors while creating consistent records of every verification attempt. Organizations particularly appreciate how API systems can handle multiple verifications simultaneously without sacrificing accuracy.

Choosing the right method depends largely on organizational needs, volume of verifications, and security requirements. Many organizations actually benefit from combining approaches – using automated systems for routine checks while maintaining manual verification capabilities for special cases.

If you are looking for an API solution, Signzy offers RC and DL verification APIs – to connect you directly with motor vehicle databases without the complexity, giving you instant, accurate results. 

Signzy also offers a complete identity verification solution for organizations looking to go even further with security and compliance adherence. 

KYB documents required for UAE business verification

UAE KYB Documents Requirements [Take-Home List Inside]

Posted on | by Saurin Parikh
🗒️  Key Highlights
  • Non-compliance with KYB requirements in UAE can result in fines ranging from AED 50,000 to AED 1 million.
  • Commercial licenses in UAE’s free zones are only valid within the issuing free zone’s jurisdiction, making verification of operational scope essential in KYB checks.
  • UAE Central Bank mandates all financial institutions to conduct business verification as part of their due diligence under Federal Decree-Law No. 20 of 2018.

Think about buying gold – a $50,000 bar is presented to you. 

It’s got the right shine, weight feels perfect, and the price is compelling. But there’s no certificate of authenticity. No hallmark. No trace of its origin. Would you still buy it? 

Just like that gold bar, every business needs “proof” it’s the real deal. 

In compliance, this process is called KYB – Know Your Business. Simple as that.

A company might look perfect on paper – impressive revenue, solid partnerships, attractive terms. But without proper verification, you could be dealing with smoke and mirrors.

But it’s not tough to filter real businesses so why take risk? 

Here’s every document you need to conduct KYB verification in the UAE. 

But first, go through this quick-help section to understand requirements better. 

What do you need to verify in UAE under KYB?

Whether you’re a small business expanding your supplier network or a large corporation seeking new partners, proper verification protects not just your bottom line, but your reputation too. That’s why UAE regulations lay out five clear categories of documentation for KYB verification: 

  • Core business documents 
  • Financial records
  • Address verification
  • Ownership structure
  • UBO documentation

Each of these verification requirements are like layers of an onion – each one peels back to reveal more about your potential business partner. Let’s discuss each in detail.

💡 Related Blog: How does ID document verification work?

List of KYB Verification Documents Required in UAE

1. Core Business Verification Documents in UAE

UAE business verification requires four mandatory documents: 

  • Trade license
  • Certificate of incorporation
  • Articles of Association
  • Commercial registration

No amount of charming business presentations or impressive figures can replace these essentials when verifying UAE business partners. These requirements stem directly from UAE Federal Law No. 2 of 2015 concerning Commercial Companies and its subsequent amendments.

The trade license, issued by the Department of Economic Development (DED) or relevant free zone authority, stands as the primary proof of operating permission. The certificate of incorporation backs this up by confirming legal establishment details, while the commercial registration fills in crucial operational specifics.

2. Financial documents

Alongside core documents, you need to collect supporting financial information as well. Here’s a list you can refer to for financial document collection:

  • Bank account opening documents
  • Recent bank statements (typically 3-6 months)
  • Banking references where applicable
  • Audited financial statements (if applicable)
  • Annual returns filed with authorities
  • Financial projections for new businesses

3. Address Verification Documents

Physical presence verification forms the third pillar of UAE business validation. You need to make sure your business partner has actual walls and doors, not just a fancy website. The primary documents needed to verify address for KYB protocols are:

  1. Tenancy Contract (Ejari in Dubai/Tawtheeq in Abu Dhabi)
  2. Recent Utility Bills (DEWA/ADDC/AADC)
  3. Location proof as registered with the licensing authority

Additional documentation might be required based on business location (mainland vs free zone), type of premises (commercial/industrial), and number of operational locations.

4. Ownership Structure Documentation

Business structures in the UAE range from straightforward to mind-bendingly complex. But whether simple or complex, clarity is non-negotiable because you need to face UAE’s compliance at the end of the day. A clear chain of ownership must be established through:

  • Shareholder registry with percentage holdings
  • Partnership agreements for non-corporate entities
  • Corporate organizational charts
  • Parent company details for subsidiaries
  • Group structure documentation for larger organizations

At this point, you may confuse ownership documentation requirements with those of UBO (ultimate beneficial ownership) requirements. 

Here’s where it gets interesting. While ownership structure shows the formal arrangement of a business, UBO documentation reveals who actually pulls the strings. A company might be owned by another company, which is owned by yet another company – but at the end of this chain stands a real person making real decisions.

5. UBO (Ultimate Beneficial Owner) Documentation

Businesses that hide their true owners (not always the ones on paper) usually have reasons for doing so. And those reasons are rarely good ones.

That’s why UAE’s Article 9 of AML-CFT decision doesn’t just ask “who owns this company?” but rather “who actually controls and benefits from this business?” .

When verifying UBOs, insist on:

For Individual UBOs
  • Valid passport copies
  • Emirates ID (for UAE residents)
  • Proof of residential address
  • Declaration of beneficial ownership percentage
For Corporate UBOs
  • Corporate documents showing ownership chain
  • Documentation tracing ownership to natural persons
  • Evidence of voting rights and control mechanisms

UBO thresholds in the UAE are set at 25% ownership or voting rights, though financial institutions might require documentation for lower thresholds based on risk assessment.

Full List of KYB Verification Documents Required in UAE

Here’s your take-home verification documents list you need to collect in UAE for KYB.

 

Category Required Documents
Core Business Documents – Trade License

– Certificate of Incorporation

– Articles of Association

– Commercial Registration
Address Verification – Tenancy Contract (Ejari/Tawtheeq)

– Recent Utility Bills

– Location Proof with Licensing Authority
Ownership Structure – Shareholder Registry

– Partnership Agreements

– Corporate Organizational Charts

– Parent Company Documentation

– Group Structure Documents
UBO Documentation (Individual) – Valid Passport Copies

– Emirates ID (for UAE residents)

– Proof of Residential Address

– Beneficial Ownership Declaration
UBO Documentation (Corporate) – Corporate Ownership Chain Documents

– Natural Person Tracing Documentation

– Voting Rights Evidence
Financial Documentation – Bank Account Opening Documents

– Recent Bank Statements

– Banking References

– Audited Financial Statements

– Annual Returns

– Financial Projections

Document Verification Process

As we all know – document verification isn’t the most exciting part of building business relationships. It can be time-consuming and resource-intensive, often pulling teams away from core business activities. 

Most businesses would rather focus on growth opportunities and partnerships. 

The real challenge comes in balancing thoroughness with efficiency. Every document needs checking for authenticity, matching details across files, and ensuring nothing’s expired. 

Doing this manually? That’s like counting grains of sand – possible, but hardly practical.

This is precisely where digital solutions can save the day. Modern verification platforms like Signzy handle the heavy lifting – automating document checks, UBO verification, and compliance monitoring, all while staying perfectly aligned with UAE regulations. Explore Signzy’s comprehensive KYB Verification Suite now.

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