KYB (Know Your Business)

A check of a company, or of the person behind an account, before it gets services such as payouts: who owns and runs it and what it does.

#How it works in CryptoLike

CryptoLike asks for verification before money can leave an account: payouts are refused with 403 kyb_required until the account is verified. Accepting payments does not need it: invoices, static addresses, payment links, plugins and the Хорошоп connector work before verification, and you can test them with test keys and test networks. Individuals can use CryptoLike too, so the check covers the account, not only companies.

You upload the documents in the cabinet as PDF, PNG or JPEG files of up to 10 MB each; owners and admins of the account can do this. The status moves from none to pending when the first document arrives, then to verified or rejected. A rejection comes with a comment, and a new document sends the account back to review. Businesses in regulated or higher-risk categories are reviewed individually. Each step, the document types and what to do after a rejection are in KYB for crypto merchants.

Verification is one of the payout controls described on the security page; the others are 2FA, the payout whitelist and the second approval.

Who can open an account and what CryptoLike is for: about CryptoLike.