Why do I need to verify my identity with SongVest to invest?

Why do I need to verify my identity with SongVest to invest?

In order to invest in SongShares, you must verify your identity. Identity verification is a standard practice as part of Anti-Money Laundering (AML) and Know-Your-Customer (KYC) requirements. AML and KYC refer to due diligence activities that regulated financial institutions like SongVest must perform for compliance purposes and fraud checks. SongVest uses third party service providers to validate your identity and confirm you are not prevented from investing due to federal prohibitions.
 
You will be asked to provide personal identification information which may include your social security number (SSN) and a valid photo I.D. Some investors may be required to provide a passport.

Please note, we take the security of your information very seriously.