Controls
- Trader KYBC (Know Your Business Customer) program
Know Your Business Customer (KYBC) program for verifying seller identity, legitimacy, and compliance status on marketplace platforms.
- Trader traceability database
Seller traceability database and record-keeping system to document seller verification, authorization, and compliance history.
- Know Your Customer (KYC) program
Know Your Customer (KYC) program establishing identity verification, due diligence, and ongoing monitoring of seller accounts.
- Random spot-checks of trader compliance
Random spot-checks and periodic audits of seller compliance, documentation, and verification records on marketplace platforms.
- Anti-money-laundering (AML) program
Anti-money-laundering (AML) program including seller screening, transaction monitoring, and suspicious-activity reporting.
- Business-user terms of service (P2B-compliant)
Business-user terms of service documenting seller verification requirements, onboarding conditions, and termination grounds.
- Consumer complaint + notice-and-action system
Consumer complaint and notice-and-action system to address seller fraud, misrepresentation, and verification failures.
Regulations
- Council Directive (EU) 2021/514 (DAC7)
DAC7 reporting regime requires marketplaces to collect and verify seller identification and business information for tax authority reporting.
- EU Platform-to-Business Regulation 2019/1150
EU Platform-to-Business Regulation requires transparency in seller terms, dispute resolution, and may inform verification disclosure practices.
- Consumer Protection (E-Commerce) Rules, 2020
India's e-commerce rules require marketplace operators to verify seller details and maintain seller information transparency.
This is based on Magist's regulatory data, not legal advice. Verify with counsel for your specific situation.