Why do I need to verify myself?

Financial institutions and businesses are legally required to comply with Anti-Money Laundering (AML) regulations. These requirements are enforced under laws such as the Dutch WWFT (Wet ter voorkoming van witwassen en financieren van terrorisme), which mandate verifying the identities of key individuals associated with a company. This ensures transparency and prevents illegal activities such as money laundering, fraud, or terrorist financing.

However, verifying your identity is not just a legal obligation but also a measure to ensure secure and transparent business operations. The ID verification ensures that the authorized company representative signs off on changes in your account, such as an administrator change. This prevents unauthorized changes and keeps the data in your account under your control.