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Financial services in the UAE and across the MENA region operate under strict regulatory frameworks. Thiqwave’s compliance features help you meet those obligations without building the verification infrastructure yourself. Three processes run under the compliance umbrella: KYB verification, KYT monitoring, and sanctions screening.
A business’s account cannot become active and transactions cannot be processed until their compliance status is approved. Build compliance checks into your onboarding flow before you attempt to initiate any settlements.

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What You Do vs. What Thiqwave Handles

What you do (once):
  • Submit KYB verification for your business during onboarding
  • Provide end-customer information if you’re onboarding sub-accounts
What Thiqwave handles automatically on every transaction:
  • Real-time KYT (Know Your Transaction) monitoring — blockchain analytics, pattern detection, flagged address screening
  • Sanctions screening against international watchlists (OFAC, UN, EU, UAE local lists)
  • Travel Rule compliance — originator and beneficiary information exchange as required by FATF and UAE regulations
  • Ongoing monitoring — if a previously approved entity’s status changes (e.g., new sanction), Thiqwave updates automatically and notifies you via webhook

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KYB (Know Your Business)

KYB verification confirms that your business is legitimate and registered. Thiqwave performs automated KYB verification, handling document collection, identity verification, and risk assessment.

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What data is required

To initiate a KYB check, you submit the following information for your business:
FieldDescription
Business nameThe legal registered name of the entity
Registration numberOfficial company registration or commercial license number
Country of incorporationWhere the business is legally registered
Business addressRegistered or principal place of business
Ultimate beneficial owners (UBOs)Names and identification documents for individuals who own 25% or more
Supporting documentsCertificate of incorporation, memorandum of association, or equivalent
Additional documents may be requested depending on the jurisdiction and risk profile of the business. Thiqwave surfaces these requests through the compliance API so you can collect and submit the information programmatically.

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KYT (Know Your Transaction)

KYT monitoring runs in real time on every transaction. Thiqwave monitors blockchain activity and transaction patterns to identify suspicious behavior, including:
  • Rapid transaction sequences
  • Unusual destination addresses
  • Transaction amounts inconsistent with historical patterns
  • Interactions with flagged addresses or protocols
KYT monitoring happens automatically; you don’t need to take action. If a transaction is flagged, Thiqwave may pause settlement pending review, and you’ll be notified via webhook.

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Sanctions Screening

Thiqwave screens every business against international sanctions lists relevant to the MENA region. Screening runs automatically when you submit a business for KYB and continues on an ongoing basis — if a business’s status changes (for example, a newly imposed sanction), Thiqwave updates their compliance status and notifies you via webhook.

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Compliance statuses

StatusDescription
pendingThe compliance check has been submitted and is under review.
approvedThe customer has passed all checks. Accounts and transactions can proceed.
rejectedThe customer failed verification or is on a sanctions list. You cannot create accounts or transactions for this customer.
requires_reviewAdditional information or documents are needed before a decision can be made. Thiqwave will specify what is required.
A status of requires_review is not a rejection. Collect the requested documents from your customer and resubmit them through the compliance API to continue the review process.

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Why compliance matters

MENA financial regulators — including the UAE Central Bank (CBUAE) — require financial service providers to verify the identity of every business they serve and screen against sanctions lists before processing any funds. Non-compliance exposes your business to significant regulatory and financial risk. Thiqwave’s compliance layer is designed to ensure that every customer you onboard meets the required standards before they can transact.
Set up compliance webhooks so your system is notified in real time when a customer’s status changes. This avoids polling the API and ensures you react quickly to status transitions like pending → approved or approved → requires_review.

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Travel Rule

The FATF Travel Rule requires that certain originator and beneficiary information accompanies qualifying transactions. Thiqwave handles Travel Rule compliance automatically — collecting, validating, and transmitting the required information as part of the settlement process. You do not need to implement Travel Rule messaging separately. For transactions that trigger Travel Rule thresholds, Thiqwave will request the necessary originator/beneficiary data as part of the transaction payload. The API documentation specifies which fields are required per corridor and transaction type.

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Next Steps

KYB Verification Guide

Compliance API Reference