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How Accounts are Verified?

Simple has partnered with a third-party identity verification provider to ensure eligibility under Know Your Customer (“KYC”), Anti-Money Laundering (“AML”), and anti-fraud regulations to open an account.

The company shall carry out the following specific measures to ensure data protection:
Any personal data storage or processing shall be made on the basis of respective Service Agreements, Non-Disclosure Agreements, and Data Processing Agreements compliant with the EU GDPR;

The Company uses a specially designed API interface (so-called IFrame) that makes it possible to submit the data directly to the Company’s secure servers;

The personal data accepted by the Company is always securely stored on the servers located in safe European data centers of the security level no lower than Tier 3;

All information gathered undergoes anonymization/pseudonymization and hashing;

The Company undertakes to preserve the personal data as long as it is necessary for the clients under applicable laws;

All persons dealing with personal data shall be officially authorized and must undergo background checks and special periodical training;

The Company shall hold data protection and security audits by a leading international expert institution;

The Company shall not disclose any biometric information that is provided to it;

The Company shall not accept for processing or storage the personal data of children;

The Company tends not to transfer the personal data to or provide access to it from the countries outside the EU and the EEA;

Updated on: 20/06/2022

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