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At Proptee, we're required to collect personal information from our customers to combat money laundering and terrorist financing. To use our services, you will need to pass our KYC process.
Proptee uses Identity Verification in order to comply with KYC (Know Your Customer) and AML (Anti Money Laundering) regulations. KYC is a way of identifying and confirming that customers are who they say they are, while AML is monitoring and reporting suspicious profiles and transactions. KYC is a multi-step process that helps to prevent the creation and use of fraudulent accounts.
As a regulated virtual currency exchange and wallet operator company in Lithuania, Proptee is legally required to identify the users on our platform. Per the Proptee User Agreement, we require all customers to verify their identity to continue using our service.
We run light background checks on your profile until you deposit less than €1,000 in the app. As soon as you want to invest more, you'll need to go through an ID verification process. The app will autometically ask for ID verification before you can deposit any more funds than the initial €1,000.
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.
When filling out your information, make sure that your name matches the legal name on your ID and the information you provide is free of typos. Contact us if the information entered is accurate, but you still cannot pass verification.
If you don’t verify your identity, your account will be restricted. Proptee will help you in any way we can to ensure you can verify your identity.