About Barong KYC/AML Component

Barong is the KYC/AML component in the RubyKube Cryptocurrency Exchange.

Barong acts as a central authentication and authorization system in Rubykube Crypto Platform (RKCP). Since KYC is one of the most critical components of the RKCP, Barong is responsible for AML/PEP compliance throughout controls.

KYC controls typically include the following:

  • Collection for analysis of basic identity information, such as user’s Passport, Driver’s License, ID card, or any * other country specific identification document.
  • Name matching against lists of known parties (such as “politically exposed person” or PEP) Determination of the customer’s risk in terms of propensity to commit money laundering, terrorist finance, or identity theft.
  • Creation of an expectation of a customer’s transactional behavior.
  • Monitoring of a customer’s transactions against expected behavior and recorded profile as well as that of the customer’s peers

Barong as a KYC/AML component is flexible and highly customizable to fulfill the needs of geographic specific governance and regulations. Although this product provides the framework to be implemented in terms of exact market regulations and standards, it also provides ready to use functionality.

Basic list of features of Barong is:

  • User registration
  • Email and phone verification
  • Identification documents upload
  • Application management
  • Authentication and Authorization through OAuth2
  • Per transaction identification for vulnerable operations (WIP) with secret management and TOTP