To help our clients meet FATF and local Travel Rule requirements, Sumsub has created a verification process based on the best market practices, described as the VASP Due Diligence Procedure.

Sumsub may conduct Due Diligence on the clients of its Travel Rule Ecosystem participants. There are three ways to do it:

• Sumsub checks the VASP after you decide to transact with it by contacting it and requesting the necessary information.
• Sumsub checks the VASP before you decide to transact with it via the Due Diligence Questionnaire filled by the VASP voluntarily.
• The VASP contacts Sumsub and decides to pass the due diligence.

How it works

Sumsub performs the Essential Check (EC) and the Extended Essential Check (EEC) on the target VASP. These checks are usually performed before the VASP Due Diligence takes place.

During the checks, Sumsub receives the publicly available and trusted data, such as company name, address, incorporation date, etc. the associated risk score from its Data Partners.

The collected data is combined to a form so-called VASP score. This score reflects potential risks posed by the target VASP and can be used as a guiding metric when you decide whether to transact with a specific VASP.

Sumsub also automatically generates the Extended Essential Check Report containing all information collected via the Data Partners.

To learn more about the VASP score and the report, refer to this article.

VASP verification results

Sumsub will assign two types of verification statuses for each VASP:

• Essential Checks statuses
• Due Diligence statuses

Possible combinations of these statuses will be displayed as follows: