To understand what Anti-money laundering (AML) is click here
Anti-money laundering legislation requires Jasper to collect information on our investors to detect and deter money laundering and terrorism financing on our platform.
There are various AML requirements placed on Jasper depending on if you are investing as an individual, or as a company, trust or partnership.
Generally speaking, investing with Jasper as an individual provides an easier on-boarding process.
It's a simpler process, because, for more complex entities such as companies, trusts and partnerships, AML legislation requires Jasper to verify the identity of all related parties. Including Directors, Shareholders over 25%, Partners and Trustees.
Practically what this means is you can't invest on Jasper until each of those related parties have verified their identity. We make this an easy and fully digital process, but, we still recommend for efficiency purposes investing as an individual unless necessary.
If unsure, please confirm with your lawyer and accountant.