Essential Check and Extended Essential Check

Sumsub provides the following types of checks for the VASP attribution and VASP Due Diligence:

• Essential Check — assumes that Sumsub receives a counterparty-type risk scoring directly from the data partner (Crystal Blockchain) about a VASP in the list.
• Extended Essential Check — assumes that Sumsub receives the information from its data and generates it into the VASP Due Diligence report and the VASP risk score.

Sumsub uses data partners—Crystal Blockchain and (or) Chainalysis—to receive the information about the counterparty and the risk it may pose. This information is lawfully obtained from the existing public sources (namely, VASPs websites, country registries, public VASP aggregators, OpenCorporates, and so on).

The data partners verify and double-check the information manually before assigning any labels and scores. They also regularly monitor the news and reports, and update their databases once the regulation changes.

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Info

• To learn more about the Extended Essential Checks report, refer to this article.
• To learn more about the VASP score, refer to this article.