Help Article

What is the purpose of identity confirmation?

Identity Confirmation is a process required by financial institutions to monitor transactions based on the “Act on Prevention of Transfer of Criminal Proceeds”. Given that PayPal is registered as a funds transfer business operator with the Financial Service Agency, PayPal has to comply to help prevent money laundering and terrorist financing. PayPal is therefore required to request and confirm the identity of its users that transacts through PayPal.

This process is also intended to eradicate fraudulent practices by preventing the creation of fictitious bank accounts and use of these accounts in billing fraud and bank transfer scams.

Please visit the following pages to view the steps on how to complete Identity Confirmation:
For Personal account Identity Confirmation, please visit this page for more information.
For Business account Identity Confirmation, please visit this page for more information.

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