What do you do with my KYC data?
TLD prioritizes the security and integrity of user data throughout the Know Your Customer (KYC) process.
By adhering to stringent guidelines to safeguard user information and ensure compliance with regulatory standards. Here's how TLD uses your KYC data:
Name: Users are required to provide their complete legal name during the KYC process. This information is crucial for accurate identification and record-keeping purposes.
Date of Birth: Users must disclose their date of birth to verify their age and eligibility for takaful coverage. This helps in determining suitable insurance plans and premiums based on age cohorts.
Address: Users are mandated to furnish their current residential address for authentication. This ensures accurate contact information and correspondence channels.
Identification Number: Users are obliged to supply a valid identification number, such as a national ID or passport number. This measure helps verify identity and mitigate fraudulent activities.
Proof of Income: Users may be requested to submit proof of income, like bank statements or pay stubs. This assists in assessing financial capacity and determining appropriate coverage options.
Proof of Residence: Users may need to provide proof of residence, such as utility bills or rental agreements. This helps validate their location and mitigate fraud risks.
To sum up TLD needs your KYC data for underwriting purposes and for fraud detection and prevention.
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