What is KYC and KYB? Business verification explained simply
What are KYC and KYB? Learn why financial services verify businesses, what your company and its directors usually need, and how to get verified smoothly.
Security
Security at Vav is a combination of verification, compliance processes and controls in your hands. Here is what that means in practice.
Our approach
Verification
Every business completes business verification (KYB), covering the company, its owners and the people who control it, and everyone who uses the account verifies their identity. Accounts are not available without verification.
Compliance
Payments and accounts are subject to anti-money-laundering, counter-terrorist-financing and sanctions processes run with our partners. Sometimes that means we ask for more information before a payment goes through.
Your controls
Freeze and unfreeze virtual cards whenever you need to and set spending limits per card, so one compromised card never puts everything at risk.
Transparency
Rates, fees and amounts are shown in the app before you confirm a conversion, transfer or withdrawal.
Your part
Vav will never ask for your password or one-time codes by email, phone or message.
Only log in at app.vav.money. Type it yourself rather than following links in messages.
Protect your phone and computer with a passcode, fingerprint or face unlock, so a lost device does not expose your account.
If a card looks wrong, freeze it in the app straight away, then contact us.
Noticed suspicious account activity, an unrecognised transaction, a card issue, or signs of unauthorised access? Report it immediately to security@vav.global.
If you suspect your card or account has been compromised, freeze your card in the Vav app and contact our security team. We’re here to help protect your account and resolve security-related concerns.
Help us keep Vav secure. If you’ve discovered a potential security vulnerability in our app, website, or services, report it confidentially to bugs@vav.global.
Please include a description of the issue, the affected feature, and steps to reproduce it, if available. Avoid accessing or sharing other users’ data while investigating.
Vav is not a bank. Funds held through Vav may not be covered by deposit protection schemes. Read the Risk Disclosure and AML/KYC Policy.
What are KYC and KYB? Learn why financial services verify businesses, what your company and its directors usually need, and how to get verified smoothly.
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