Lemma-X UAB and Lemma-X APS are respectively overseen by the Bank of Lithuania and by the Danish Financial Supervisory Authority, both must follow their local Law on the Prevention of Money Laundering and Terrorist Financing. The Know Your Customer (KYC) process helps us to confirm the identity of customers and prevent the creation and use of fraudulent accounts.
Basic Verification
Identity verification
Identity Verification is the process of gathering essential information from a customer to confirm their identity in order to meet regulatory obligations.
During the identity verification process, customers may be asked to provide current and accurate information, including:
- Name
- Address (must be a street address)
- Date of birth
- Valid ID card or passport
We utilize a national database to verify the information provided. In some cases, we may require customers to submit additional documents or information. Rest assured, the information you provide will only be used for verification purposes and will not be sold or shared with third parties without your written consent. For more details on the data we collect and how it is stored, please refer to our Privacy Notice.
Accepted Government-Issued Identification
To complete Identity Verification, valid, non-expired government-issued photo identification is required. Examples include:
- Passport
- ID card
In certain situations, we may ask for an additional form of identification or other documents.
Selfie verification
Selfie identity verification is a method of user verification that leverages biometrics. It requires users to take a selfie and upload it to verify their identity. Users can capture their selfies using smartphones, tablets, or computers.
Advanced Verification
The advanced verification goes beyond the basic due diligence process and is typically required for higher amounts. This is part of our regulatory requirements. We will notify you directly if further documents are required.
Proof of address verification
A proof of address is a document that verifies your residence, typically featuring your full name and residential address. It can take various forms, such as utility bills, bank statements, rental agreements, or official government correspondence. This document acts as evidence of your residence and is often requested by institutions and service providers to ensure that you live at the provided address. This helps prevent fraudulent activities and enhances the security of your account.
Source of Funds verification
To ensure a suitable trading experience for all Lemma-X customers, we occasionally need to request more information regarding the source of your funds or how they were generated. If we require additional details about the origin of your funds, you will be asked to provide further information in our interface during KYC or Lemma-X will contact you via email directly.
