When buying or selling on SiteFlea, especially for high-value transactions, you must complete identity verification steps before funds are secured in an escrow or trust account or before receiving funds for the sale of your business or digital assets. These steps, known as KYC (Know Your Customer) and AML (Anti-Money Laundering) checks, are standard [...]
When buying or selling on SiteFlea, identity verification may be required — especially for higher-value transactions — before you receive funds from a sale, or when you use SiteFlea’s optional escrow. These steps, known as KYC (Know Your Customer) and AML (Anti-Money Laundering) checks, are standard financial regulations to ensure a safe and compliant marketplace. This guide explains the requirements and process for completing verification.
Why Is Verification Required?
SiteFlea’s marketplace involves transferring assets and significant funds. To comply with global financial laws and prevent fraud, SiteFlea verifies the identities of transaction parties. For higher-value deals, buyers and sellers may need to complete ID verification before funds are exchanged, helping ensure each person is legitimate and not on prohibited or sanctioned lists, while preventing activities like money laundering or scams.
You can start verification at any time, and it may be requested during a live transaction. There are two main ways:
SiteFlea uses Sumsub, a third-party provider, to securely process and manage identity data.
What Is Involved in KYC Verification?
How Long Does Verification Take?
Verification is often instant or takes a few minutes via Sumsub’s automated system. If issues arise (e.g., blurry images, need for human review), it may take longer, requiring resubmission. Complex cases typically resolve within 24–48 hours. SiteFlea’s support team is notified of issues and may manually review or escalate documents.
A board resolution or letter authorizing you to act for the company.
Submit documents to [email protected].
The individual executing the deal must also complete personal identity verification, ensuring the SiteFlea account name matches the contract and bank account (unless company details are provided).
SiteFlea may manually handle business KYC for company-named accounts if needed.
For large transactions, additional due diligence may be required, such as proof of funds (e.g., bank statement) for buyers, especially from high-risk jurisdictions or company accounts. SiteFlea’s system checks watchlists and sanctions lists automatically. If a match occurs (e.g., coincidental name similarity), additional clarification may be requested.
Payment partners may monitor transactions for suspicious activity. Unusual patterns could prompt requests for additional information, though this is rare for standard transactions. These checks ensure a secure marketplace and legal compliance.
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