Yes, creators using Olyn Media are typically required to meet Know Your Customer (KYC) requirements. KYC procedures are essential for verifying the identity of users and entities representing the creators and complying with regulatory standards, such as anti-money laundering (AML) and counter-terrorism financing (CTF) laws.
Registration: Creators sign up for an account on Olyn Media, providing relevant basic information such as name, email address, contact details, and if relevant pertinent information related to business entity.
Identity Verification: To comply with KYC requirements, creators may be asked to provide additional documentation to verify their identity. This documentation could include government-issued identification (e.g., passport, driver's license) and proof of address (e.g., utility bill, bank statement), company by laws, company registration documentation,
Verification Process: Olyn's verification team reviews the submitted documentation to ensure that the information provided matches the identity of the creator. This helps prevent fraudulent activity and ensures the integrity of the platform.
Approval: Once the verification process is complete and the creator's identity is confirmed, their account is approved for use with Olyn Media.
By implementing KYC procedures, Olyn aims to create a secure and trusted environment for creators to monetise their content while complying with legal and regulatory requirements
