Biometric ID technology
Biometric identification technology uses biometric markers to identify someone. These methods of identification can include face recognition, fingerprint scanning or iris recognition. Trustd only uses face recognition ID.
BIPA stands for the Biometric Information Privacy Act. This law came into force in 2008 in the US, and sets a standard for how businesses are allowed to use, store and process biometric data.
GDPR stands for General Data Protection Regulation. This law came into force in Europe and the UK in 2018, and regulates the way businesses can legally use, store and process personal data.
A liveness check will confirm whether or not the person who is trying to register for a service is an active, living person, and rather than a photograph.
Ongoing monitoring is the process Trustd uses to constantly check that the documents within your Trustd profile are in-date. With ongoing monitoring, you’ll be notified whenever one of your documents is due to expire, and so will TEG.
Your Trustd profile is where you store all your ID and business documents, including credentials like your drivers’ licence, O licence, MOT, vehicle insurance and more.
If your profile is Trustd verified, that means your business ID has been cross-referenced against external sources and approved. Please note, having a Trustd verified profile alone, does not make you TEG compliant.
If you’re TEG compliant, that means the TEG compliance team has reviewed and approved your Trustd profile and associated documents. You’re also able to freely trade on the Exchange.
If you are told your profile is non-compliant, this means it doesn’t meet the standards set by the TEG compliance team. This could be due to expired, missing or incorrect documents. Until you become TEG compliant, your ability to trade on the Exchange may be restricted.
Once your compliance application has been reviewed by a member of the TEG compliance team - provided you meet all the requirements - your application will be approved and you will then be considered TEG compliant.
If your compliance application has been declined, this means a member of the TEG compliance team reviewed your application and decided that more information is needed. Please refer to the email from our compliance team on how to get your application from declined to approved status.