Why does this user have a watchlist status of SOFT_MATCH, or SOFT_MATCH|PENDING_UPLOAD?
- The user is a potential match on the OFAC Sanctions list
- If a user has a watchlist status of SOFT_MATCH - no further action is needed to resolve the issue.
- Our team will review any users with the SOFT_MATCH status to clear them from the Sanctions list as a false-positive (when applicable).
- If a user is a true match on the Sanctions list, we cannot offer banking services.
- The user is a potential match on the OFAC Sanctions list, and additional KYC is required.
- In order for us to screen the user against the Sanctions list, we require additional KYC uploaded to the user's account
- If the account type is 'Personal' - upload a Photo ID
- If the account type is 'Business' - upload an EIN Document
- Once the relevant KYC document is uploaded, the user will be placed in a queue for our Compliance team to review and clear them from the Sanctions list, when applicable.
- This article explains how to upload KYC via the Dashboard
- Photo ID or EIN Document can also be uploaded via API, by patching the user
More information about Sanctions Lists can be found here.