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Why am I being asked personal details and to submit documents?
Why am I being asked personal details and to submit documents?
Updated over a week ago

Great question! As the first regulated real estate investment platform in Middle East & North Africa, we are legally required to ask for this information. Think of it as no different than opening up a bank account. You’d be worried if your bank wasn’t asking customers the right questions before opening up their accounts, right? It’s the same concept.

SmartCrowd is regulated by the Dubai Financial Services Authority (DFSA) and is required to comply with Know-Your-Customer (KYC) and Anti-Money Laundering (AML) controls. For this reason, all investors must submit proof of identity (passport and/or national ID) and proof of residence (e.g., utility bills, bank statements, tenancy contracts, etc.) along with their employment information, source of wealth, and current annual income. All users go through a compliance check before they are able to invest.

As per the DFSA AML Rules and in accordance with UAE Federal AML Laws, SmartCrowd has implemented a robust Anti Money Laundering framework to ensure that SmartCrowd mitigates the risk of money laundering or terrorist financing activity through its platform. SmartCrowd’s AML framework includes, but is not limited to, the designation of a Money Laundering Reporting Officer, employee AML training, and the implementation of a Customer Due Diligence process.

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