I recently started developing my trading platform. So far, thank God, not a single scammer has been discovered, but I heard from colleagues that in such a business there are often such unique people who want to commit fraudulent actions using marketplaces. I don't want to put my clients at that risk and I'm thinking of implementing KYC identity verification first. Do you know who implements KYC identity verification on marketplaces?
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I also have my online store on the marketplace, but for some reason we don’t have strict control over verification. Maybe I just don't know everything. It will be necessary to ask the management how we are doing with the implementation of the KYC system.
If this system solves the issue of the security of the trading platform, then it will be super. I am sometimes afraid to order goods in an online store because I am not sure that they will send me the right product, if at all. After all, there were different cases.
Of course, there are dishonest people on the trading platforms, both on the part of customers and sellers. The only chance to prevent fraud is for you to implement a KYC https://kycaid.com/ verification system. The main thing is that this procedure for fulfilling the requirement for customer verification can have a positive impact on your business.
I only welcome such decisions. There is nowhere to hide from scammers. Where there is money, they are sure to be. And on trading floors they can also be introduced as sellers. So verification should be mandatory for everyone.
If you have created a trading platform, then of course you are obliged to check not only customers, but also sellers who will be selling for you. To be honest, there may also be embedded scammers among them.