Identity, KYC & KYB Verification Policy
Risk-based identity, business and beneficiary verification for sensitive X2 operations.
1. Purpose
X2 uses proportionate identity, KYC and KYB controls for sensitive operations rather than requiring maximum verification for every basic interaction.
2. When Verification May Be Required
Verification may be required for payouts, beneficiary changes, master ownership or transfer, publishing administration, Social or UGC monetization, Label agreements, manual professional verification, high-risk API access, fraud review or other sensitive operations.
3. Individual Verification
Depending on the operation and provider, X2 may verify legal name, date of birth where required, country or residence, identity documents, payout beneficiary information and other legally necessary details.
4. Business Verification
KYB may include legal entity name, registration number, jurisdiction, authorized representative, ownership or control information, beneficial owners where required and authority to act for the entity.
5. Distinct Roles
Company account owner, authorized representative, ultimate beneficial owner, rightsholder, royalty beneficiary and bank beneficiary may be different people or entities. X2 may verify each role to the extent relevant to the transaction.
6. Payout Verification
Before sensitive payments, X2 may validate the chain Rightsholder or Entitlement to Beneficiary to Payment Destination.
7. Verification Levels
Internal or customer-facing statuses may distinguish basic account verification, identity verification, business verification, beneficiary verification and enhanced review without implying professional-role or rights verification.
8. Manual and Temporary Verification
Manual review may support legitimate urgent cases, but it does not replace KYC or KYB that is legally required by X2 or an applicable regulated provider.
9. Reverification
X2 may request reverification after material changes such as ownership changes, payout-beneficiary changes, suspicious activity, document expiry, provider requirements or legal changes.
10. Third-Party Verification Providers
X2 may use specialist verification providers. Where appropriate, X2 may retain only a verification result and necessary references instead of permanently storing full document copies.
11. Fraud
Fake identity documents, stolen identity, false business ownership, false beneficial-owner information or forged verification evidence may result in immediate Anti-Fraud review and serious-violation enforcement.
12. Data Minimization
X2 seeks to collect only the level of identity and business information reasonably necessary for the relevant operation and legal obligations.