COMPLIANCE009 — Identity Documents

Last updated: September 1, 2026

To increase your transaction limits and access advanced services like global payments, we need to verify your identity and your organization's identity. This is a standard banking compliance requirement for anti-fraud and anti-money laundering (AML) purposes. Rest assured, all uploaded documents are secure, encrypted, and used solely for AML compliance.

Important notes:

  • Completing your identity profile is not required to receive funds.

  • However, without full verification, limits will apply to the amount and frequency of outbound transactions.

  • To comply with banking regulations, we may request certain documents to verify senders and beneficiaries, helping protect against fraud and illegal financial activities.

Overview

To comply with U.S. banking regulations and protect against fraud, money laundering, and other illicit financial activities, our platform requires identity and business verification for certain users.

These requirements align with:

  • Financial Crimes Enforcement Network (FinCEN)

  • Office of Foreign Assets Control (OFAC)

  • Federal Financial Institutions Examination Council (FFIEC)

  • Securities and Exchange Commission (SEC)

Objectives

  • Verify the identity of individuals and businesses.

  • Ensure compliance with AML (Anti-Money Laundering) regulations.

  • Prevent fraud and unauthorized activity.

  • Meet federal Customer Identification Program (CIP) and Customer Due Diligence (CDD) requirements.

Verification requirements

Category

Required document(s)

Purpose

Regulatory reference

Individuals & account administrators

Government-issued photo ID (driver's license or passport)

Confirm identity of the individual; meet federal identity verification standards

FinCEN CIP Rule

Business verification: public companies

Stock symbol; government-issued photo ID (account administrator)

Validate public company status; verify identity of account owner

SEC Disclosure Requirements; FinCEN CIP Rule

Business verification: private companies

Government-issued photo ID (account administrator); company tax document (e.g., EIN letter)

Verify identity of account owner; confirm legal existence of the business

FinCEN CIP Rule; FinCEN CDD Rule

Additional documentation (if requested) — may be required based on risk signals, transaction activity, or compliance review

Utility bill (e.g., electricity, water, or internet bill); bank statement (personal or business)

Verify business operating address; confirm existence of a valid bank account and distinguish between personal and business accounts

FFIEC BSA/AML Manual

International clients: global regulatory requirements

While Xtrm maintains a standard baseline for identity and business verification (KYC/KYB), clients using our international payout services are subject to diverse global and regional regulatory standards, particularly those governing cross-border and multi-currency transactions. The nature of Anti-Money Laundering (AML) and compliance obligations varies significantly by country and jurisdiction.

Data usage and compliance

All collected documentation is used strictly for compliance and security purposes:

  • Identity verification

  • Fraud prevention

  • AML compliance monitoring

  • Sanctions screening

We adhere to regulatory expectations set by FinCEN, OFAC, FFIEC, and SEC.

Risk-based approach

Our verification process follows a risk-based methodology:

  • Standard verification for most users

  • Enhanced due diligence for higher-risk cases

  • Additional documentation requested when necessary

Summary

This verification framework ensures that our platform remains secure, compliant, and aligned with U.S. financial regulations, while maintaining a streamlined experience for customers.

Review process

Documents are reviewed by our compliance officers. Once approved, your account gains access to advanced services and increased limits — this typically takes 1 to 3 business days. From time to time, we may ask for additional documentation to clarify a submission. Increases in transaction limits are typically applied instantly after documents are successfully uploaded.

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