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Written by Axia
Updated over a week ago

Trust is one of the core aspects of our business. Trust between users, traders, and Zignaly must be present all the time.

To help to sustain that trust, we have decided to start implementing KYC on the traders. With Profit-Sharing, traders control the users' investments and should be treated carefully. We also understand that traders can have concerns about this process. In the end, they are going to share sensitive data with us. For this reason, we want to answer some of those questions and show you that we are taking measures to help you to trust us.

In this Article:

Why have we implemented KYC?

Recently we have seen that not all the traders in our marketplace play fair. Some have created a new account and started from scratch, hiding their bad results without any problem. This behavior is not good, not for users, not for fair traders, not for Zignaly. You can find more details about other measures that we are taking in this article.

What is the KYC for?

The main goal of the KYC is to prevent behaviors as described in the previous paragraph and to know that the person behind the service is a real person above legal age.

Additionally, We'll also use that information if required by any government authority if the trader has done something illegal. You should have in mind that they probably don't need to come to us to find out who you are. You would have enough trace out there to figure out who you are (Twitter accounts, email, avatar picture, etc.).

KYC Security

We are aware that the data in the KYC is sensitive information and that we should apply confidentiality protocols. After analyzing multiple options, we decided to use one of the most famous platforms in the network Shufti Pro. Banks and other finance platforms around the world use Shufti Pro to manage their KYC processes.

Shufti Pro data is secured in data banks located in Germany and protected with 256-bit end-to-end encryption. It is registered with International Commissioner's Office UK under GDPR compliance for Data Protection Act 1998. Additionally, Shufti Pro has a PCI compliance SAQ level.

Restricted Access

All the KYC managers who have access to the data in Shufti Pro have enabled multi-factor authentication.

Only a few people on the Zignaly team are KYC Managers. They have the option to check if a user has passed or not the KYC but not to the sensitive data. Only admin users have access to sensitive data.

Your Personal Data in Zignaly

We don't copy any data submitted to Shufti Pro to our systems. So even if our infrastructure is compromised, nobody would have access to your data. The only thing that we do with the data is to mark your user and services as "verified," that's all.

When you're ready, contact Support to have an evaluation completed.

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