The address supplied by my potential
client shows “Not Matched” or "Failed" on the KYC Check result - why does this happen?
TPN KYC Check verifies the address you input into our
system against golden source information.
Golden source information is information that is verified
against external third-party sources that also need to comply with FICA
regulations like Banks, Insurance companies, cellular service providers and
other financial institutions.
These institutions would do similar checks and request
supporting documents to verify and KYC their clients.
It’s possible the third-party source has not
received or processed a request from the client to update this information and
the institution has not done a recent RICA or FICA Check, so the information
they are providing is outdated but is the most up-to-date information they
have.
What must I do now to verify the address?
In cases like this you should perform further
due diligence and verify the address the client has given against a third-party
document, like a bank statement, utility bill or cellular invoice.
Be aware of strange looking documents and see
if the document can be verified online or via telephone.