Wallet screening with individual verification
One request screens the wallet and verifies the individual: identity verification and AML screening sit beside the wallet result, and each keeps its own result.
Who it is for: OTC desks, brokers, VASPs, family offices, escrow providers and professional firms dealing with an individual who sends or receives crypto.
Scenario: You are dealing with an individual and want the wallet screened and the person verified in one request.
The problem
A wallet result describes an address. It does not tell you who you are dealing with. So the wallet is checked in one tool and the individual in another, and the two results meet only in somebody’s head or in an email thread.
What can happen
- Identity, AML and wallet checks are run in different orders by different people, so no two files look the same.
- A result for one check is read as if it answered the question the other was meant to: a passed identity check is taken to say something about the wallet, or a wallet result about the person.
- There is no single record that shows what was checked about the individual and about the wallet.
A better process
Compose one request. The wallet is screened when the request is created, and the individual receives one invitation to verify their identity and, where the workflow includes it, to be screened for AML. Forms and documents can be added where your process requires them.
How UMNIII Verify helps
UMNIII Verify runs the checks side by side and never merges them. The wallet has its own outcome, identity verification has its own, and AML screening has its own. The request also shows an overall outcome, which is kept separate from the result of every check beneath it.
Which Verify features help?
- Wallet Screening
- Screens the wallet your team entered when the request is created. The individual completes their own steps and does not see the wallet screening.
Establishes: The risk signals reported for one wallet address on one network on the day it was screened: an overall risk level, a sanctions status and any risk flags, with the date.
Does not establish: It does not establish who owns or controls the wallet, and it is a point-in-time result, not monitoring. A result is for your own risk assessment and is not an approval of any transfer. - Identity verification
- Verifies the individual you are dealing with. It says nothing about the wallet’s history, and it does not establish that they control a particular wallet.
Establishes: That a government-issued photo ID was checked for authenticity and matched to a live selfie of the person presenting it.
Does not establish: It does not establish an address, a right to work or rent, creditworthiness, a driving entitlement, or anything about a company. - Standard AML screening
- Screens the individual for sanctions and politically exposed person status, where your workflow includes it.
Establishes: Whether the person appears on sanctions lists or politically exposed person (PEP) databases at the time of screening.
Does not establish: It does not include adverse media, and a result is information for your own decision rather than a decision.
Optional, added separately
- Custom information forms: When your process also needs information the individual states, such as their source of funds.
- Document requests and uploads: When your process also needs supporting documents. An upload shows what was provided, not that a document is genuine.
Step 1: Choose the workflow
- Begin in Wallet Checks and choose Wallet + Individual Verification.
- Each check in it keeps its own price, and the quote lists every line separately before anything is sent.
Step 2: Enter the wallet and invite the individual
- Enter the network and wallet address yourself, then enter the individual’s email so they receive one invitation.
- The wallet is screened when the request is created. The individual is invited to complete their own steps only.
Step 3: The individual completes their steps
- They verify their identity. Where the workflow includes AML screening, Verify runs it using the verified identity; AML is not a separate step the individual completes. They also answer forms and upload documents where your process asks for them.
- The individual never sees the wallet screening.
Step 4: Read each result on its own
- The wallet reads Passed, Caution or Not passed. Identity verification and AML screening each show their own result.
- The overall outcome reads Pending while any check can still run, complete or be retried. After that it reads Attention if any check failed, Unable to complete if any check could not be completed, Caution if the wallet reads Caution, and Passed when every check passed.
- A wallet that is Not passed never makes a passed identity or AML check look failed, and the overall outcome never replaces the result of a check.
Step 5: Keep the evidence
- Download the Wallet Screening Report and the request’s evidence pack. Where a separate report is available for another check, download it from that check. Every result is dated.
- After a Caution on the wallet where the other checks passed, the result says so and points you to the transaction context, source-of-funds information, another wallet or your own risk policy.
Next step
Follow these steps in UMNIII Verify.