KYC stands for Know Your Customer. It's a standard process used by investment platforms, to verify the identity of their users. KYC helps platforms comply with financial regulations aimed at preventing money laundering and terrorist financing.

What KYC Typically Involves: Personal Identification: Providing government-issued ID documents like passport or driver's license.

Proof of Address: Documents like utility bills or bank statements to verify your residency.

Source of Funds: In some cases, the platform might ask about the source of your funds you intend to invest.

Lagrange prioritize security and constantly invest in people, technology, and processes to keep user information and assets safe.

Lagrange implements multiple security measures to protect user data:Data Encryption: Lagrange is encrypting all the data, including KYC details while is stored.

SSL: Lagrange uses secure socket layers (SSL), that prevents hackers from accessing information and protects user data.

To ensure users' account safety and security, Lagrange is committed to complying with Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations. In our continuous efforts to fulfill regulatory obligations, we may need to gather additional information and supporting documents related to users’ Source of Funds (SoF) and Source of Wealth (SoW) in certain instances.

Acceptable documents for Source of Funds and/or Source of Wealth:Bank statement (showing transaction history with payroll details for at least the last 3 months);

Employment contract that outlines salary and bonus termsPersonal savings account bank statement (showing transaction history of self-explanatory deposits and savings over time).

Latest financial statement / annual report on your investments.

Source of Wealth (SoW) is where your wealth (money or assets) originated from.

It is the root of origin of your financial resources, the activities that generated or significantly contributed to your overall net-worth.

For example, your Source of Wealth could be your salary, an inheritance you received, a business you've built, or investments that have grown in value.

Source of Fund (SoF) specifically refers to the origin or the place where your particular funds being used comes from. In many cases, they are interconnected with your Source of Wealth. This is because the Source of Fund often reflects the use/movement of the wealth generated from a particular source.

For example, your Source of Fund is your bank account where you hold your personal savings. The funds in your bank account come from your salary, which is your Source of Wealth.

Financial regulations around the world require our platform to verify the identities of our users. This helps to prevent illegal activities such as money laundering and terrorist financing.

Verifying user identities makes it more difficult for fraudsters to open fake accounts and engage in illegal activities. This helps to protect your funds.