Why do I need to provide Vendo with passports and utility bills of each stakeholder and owner of the company during the onboarding process?

To meet anti-money-laundering (“AML”) and Know-Your-Customer ("KYC") requirements, Vendo needs to gather information about the directors of the company and any person that has over 25% of the equity or control. These people are usually called "Ultimate Beneficiary Owners." The information we need includes Passports and utility bills

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