Identity verification in Caruso is managed through individual related party records. Each related party can be verified once, and their verification status applies across all investing entities they are linked to.
Step 1: Send an EIV Request through Accounts or Related Party
To access a related party’s verification settings:
In the navigation pane, select Investing Entities.
Use the search or filters to find and select the required investing entity.
Go to the Related Parties tab.
Locate the related party and click the ellipsis (⋯) menu
Select Request verification
Note: Selecting Request contact details does not send an EIV request. It only emails the main account holder to provide the related party’s contact information.
Step 2: Send the Electronic Identity Verification (EIV) Request
A popup will appear displaying details such as email and phone number for review
Set notification preferences by enabling or disabling text message delivery
Click Confirm to send the request
Step 3: Related Party Receives Verification Request
The related party will receive an email, and if enabled, a text message with a direct link to complete identity verification
They follow the prompts to capture a photo of their identification and a selfie to complete the process
For more detailed steps, refer to How to Complete Your Identity Verification (KYC) as a Related Party.
Verification Status
Once a related party completes their verification:
Their status updates automatically on their related party record
The verification applies across all investing entities they are linked to
They do not need to verify again for other investing entities
You can monitor verification status from the KYC tab on any related party record, or view the status column in an investing entity's related party tree.
Exempt Related Parties
Some related parties may be exempt from identity verification for specific investing entities. You can mark a related party as exempt when adding them to an investing entity or by editing their relationship:
From the investing entity's Related Parties tab, click the ellipsis (...) next to the related party
Select Edit
Toggle Exempt from IDV on
Click Confirm
Note: Exemption is specific to each relationship. A related party may be exempt for one investing entity but still require verification for another. The related party tree will show "Exempt" for relationships where this is enabled.
PEP and Sanctions Screening
Caruso automatically screens related parties against Politically Exposed Person (PEP) and international sanctions lists when you send an Electronic Identity Verification (EIV) request. These checks use data sourced from DOW Jones Risk & Compliance.
How PEP Screening Works
DOW Jones provides access to an extensive global dataset that includes:
Politically exposed individuals, both current and former
Close associates, family members, and known business partners of PEPs
Adverse media relating to corruption, financial misconduct, or reputational risk
Each name submitted is matched against this database using multiple identifiers, such as name, date of birth, and nationality. Only high-confidence matches (typically above 96%) are shown in the results.
Understanding the Results
The results appear in the PEP / Sanctions section of the related party's KYC tab. The table displays:
Result date
ID
Name
Confidence score
Status
You can also see the last checked date and time at the top right of the section.
Managing PEP Results
If a potential match is flagged, you can choose to mark it as either Accepted or Rejected
If you are confident that a flagged result does not apply to the related party, select Reject. This records that you are rejecting the association, not rejecting the related party
Only match results above 96% are displayed
This action is a workflow tool within Caruso to help you manage results. It does not create a regulatory record on your behalf. You must keep your own compliance register of any results
Compliance Note: Caruso’s screening process leverages trusted data provided by DOW Jones Risk & Compliance. However, ultimate responsibility for AML/KYC compliance remains with the fund manager.
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If you have any questions or need help at any stage, please contact our Caruso Support team either by email or live chat.