What is the verification of a legal body?
The verification of a legal entity is the procedure used to ascertain the identity, legal standing and geographical location of an account representing a public / private body that signed up for CROWDSWARM.
What is the purpose of verifying a public / private body?
In CROWDSWARM we check carefully the documents of the legal bodies that have signed up to use our platform, because in the digital world it is easier to impersonate for a different person or entity for fraudulent purposes. This verification procedure has been structured to protect CROWDSWARM’s users and companies and to prevent fraudsters from operating fraudulently on the platform.
The verification of a legal body is mandatory for legal entities that fall into the business category and allows them to have access to all the CROWDSWARM’s services, thereby having opportunity to launch transparent bug bounty programs.
From the researcher’s point of view, individuals are aware that only companies that have completed the verification and KYC (Know Your Customer) due diligence process are visible on the platform and therefore they can participate with more tranquility and peace of mind. Furthermore, our platform leverages the use of risk scoring to qualify the legal entity to provide transparency to the hackers on the outcome of the verification process. Successful programs executed that demonstrate milestone and progress achievement post program completion will also result in companies increasing their credibility score; enhancing their position as a credible business.
Which are the procedures to complete the KYC verification?
Three aspects are taken into account:
- name of the Internet service provider (ISP);
- date and time of visit;
- web page that brings visitors to CROWDSWARM (referral) and exit pages;
There are different procedures for each type of legal body.
This category includes schools, universities, hospitals, municipalities and all the national bodies. This category also includes private schools, universities and hospitals officially recognized in the country in which they are based. The required documents are:
- Statute of the body
- Minutes of the last election assembly of a governing body
- Certification of a Manager who appoints the administrators of the account.
This document must contain the following information:
- Official public body organizational bank account details
- Personal information of at least two administrators of the organization
- Entity registration certification
- Administrators email addresses
To complete the geographic verification, a physical letter containing a unique One Time Code (OTC) is sent to the designated administrator and the body have to write this code in a specific online form in its profile before it is activated to start creating bug bounty programs.
This category includes the for-profit bodies. They have to complete their public profile and in addition the required documents are:
- Identity Document of the Chief Executive Officer
- Identity Document of the Legal Representative
- Chamber of Commerce Trade License
- Company Registration Certificate
- Applicable Tax Reference Number
- Letter of Authorization of at least two administrators
- Official organizational bank account details
- Personal information of at least two administrators of the organization bank account
- Administrators email addresses
How are the received data managed and stored by CROWDSWARM?
User privacy is a very important value for us. Each administrator of legal body is able to change the settings related to the public display of their personal data through their account. Public data linked with public bodies and companies are not modifiable and remain public, in order to offer the most possible transparency to the stakeholders of CROWDSWARM platform.