Veli uses Identity Verification in order to comply with KYC (Know Your Customer) regulations.

KYC is a way of identifying and confirming that a customer is who they say they are.

It’s a multi-step process that helps to prevent the creation and use of fraudulent accounts.

In order to comply with the legal requirements, we are obliged to obtain a minimum of information from our users.

Due to the EU regulation (AML5) coming into effect on the 10th of January 2020, Veli users are required to verify their accounts.

We will never ask you for more information than required by law.

We collect necessary information to allow our customers to use our products and services.

This primarily includes data collection that is mandated by law—such as when we must comply with anti money laundering laws, or to verify your identity and protect you from potential fraudulent activity.

We may also collect your data to enable certain services, improve our products, and keep you notified of new developments (based on your preferences).

We do not, and will not, sell your data to third parties without your consent.

Read more about Data Privacy at Veli here.