Re-verification is a new identity and regulatory compliance check required under South African regulatory obligations. Even if you were previously verified under another jurisdiction, South African regulations require that each regulated entity independently verifies its clients.
What does re-verification mean?
Re-verification involves updated KYC and AML checks in line with South African laws, including FICA requirements. This process ensures that your information is accurate, current, and compliant with local regulations.
Read more about verification in our Help Center article: How to verify your Weltrade account (KYC)
You may be asked to provide:
A valid identity document (passport or national ID)
Source of funds or source of wealth information
Additional compliance-related documents, if required
Re-verification can be requested at onboarding or later, depending on regulatory triggers.
Why is re-verification required?
As a licensed intermediary, Weltrade SA (PTY) Ltd must comply with South African regulatory standards, which may differ from those applied in other jurisdictions. Each regulated entity is legally required to perform its own client verification, regardless of prior checks completed elsewhere.
Is changing my country or region allowed?
Yes, a change of country or region is allowed only if you provide valid documentary proof of your new residency and the jurisdiction is permitted under the company’s regulatory framework.
A change of country triggers renewed compliance checks, which may include:
AML and sanctions screening
Adverse media checks
Full or partial re-verification of your profile
If the new jurisdiction is not supported, services may be restricted or unavailable.
What happens if I do not complete re-verification?
If re-verification requirements are not met, access to certain services may be limited until the process is completed. This is a regulatory requirement and not optional.
Key takeaways
Re-verification ensures compliance with South African regulations and helps maintain lawful and secure service provision. Any change in residency or regulatory status may require updated verification to meet local legal obligations.