Know Your Customer (KYC) & Anti-Money Laundeing Verification Required Before Funded Payouts
To receive payouts as a 1099 contractor with Tradeify, all funded traders must complete KYC (Know Your Customer) and AML (Anti-Money Laundering) verification via our onboarding partner, Rise. This ensures compliance with international financial regulations and protects all parties involved.
What is KYC?
KYC (Know Your Customer) is the process of verifying a person’s identity to prevent illegal activities like fraud and money laundering. This typically includes:
Submitting identification documents (e.g. passport, ID)
Providing proof of address
Verifying contact and personal details
What is AML?
Anti-Money Laundering (AML) refers to policies and systems designed to stop criminals from disguising illicit funds as legitimate income. AML compliance protects both businesses and individuals from legal and financial risks.
Why This Is Required
Non-compliance with KYC/AML laws can result in:
Regulatory penalties and fines
Legal consequences
Reputational damage for Tradeify and partners
By verifying every funded trader, we ensure secure, transparent, and lawful payouts.
✅ How It Works with Rise
Tradeify partners with Rise to automate the KYC and AML verification process. Once you’re approved for a funded account, you’ll receive an onboarding invitation from Rise.
Here’s what to expect:
1. Identity & Address Verification
Upload government-issued ID
Provide proof of address
Rise verifies documents for authenticity
2. Biometric Liveness Check
A facial recognition scan confirms your identity matches submitted documents
3. AML Screening
Automated checks against global sanctions lists and watchlists
4. Email & IP Verification
Rise checks for any inconsistencies that may indicate fraud
📄 Compliance Paperwork
Rise also automates the generation and signing of key legal documents, including:
1099 contractor agreements
W-9 or W-8BEN tax forms (based on your country)
Service agreements
All documents are securely signed and stored digitally.
💸 Payments via Rise Wallet
Once verified, you’ll be issued a Rise ID and digital wallet address. You’ll be able to:
Link your bank account
Choose preferred payment method (bank transfer or crypto)
Get paid securely and in compliance with your local regulations
Rise supports multiple currencies and offers flexible global payout options.
Ongoing Monitoring
KYC/AML verification isn’t a one-time process. Rise provides:
Continuous compliance monitoring
Real-time alerts if issues arise with your verification status
Important
You must complete the full KYC/AML process with Rise to be onboarded as a 1099 contractor and receive any funded account payouts from Tradeify.
Delays in completing this process will result in payout delays.
FAQ
Can I be funded without doing KYC?
No. Verification through Rise is mandatory for all funded contractors.
Do I have to complete this even if I live in the US?
Yes. All contractors—domestic and international—must complete KYC and AML checks.
Is my data safe with Rise?
Yes. Rise follows industry-standard security practices and works with leading compliance providers like Sumsub.