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All CollectionsOnboarding and Business Verification
For what reasons does Cedar require my bank statement during the onboarding process?
For what reasons does Cedar require my bank statement during the onboarding process?
Updated over 9 months ago

Cedar requests your bank statement primarily to verify the source of your funds, ensuring they come from legitimate sources. This step is crucial for compliance with financial regulations aimed at preventing money laundering and terrorist financing. It helps us to verify your income, understand your financial activities, and maintain a secure financial environment for all users. Rest assured, all provided information is kept confidential and securely stored.

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