BLACK BOX VERIFICATION

The Story

COVID-19 has brought out the best in us and the worst in us. Con artists, fraudsters and other bad actors have swarmed into the PPE procurement space and have left legitimate buyers and sellers nervous, have killed deals, and left hospitals and first responders without critical equipment.

The Mission

Our mission is to help legitimate sellers quickly and safely engage with legitimate buyers so that PPE can get into the hands of those who need it most. We eliminate the risks of taking that first step in the "you show me yours, I'll show you mine" standoff that everyone in this business has been through.

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THE PROCESS

Anubis Digital is a digital gatekeeper of sorts. It allows two parties to determine if the other is presenting legitimate documentation without ever losing control of their own documents or actually viewing the content of the other documents. Then the files are permanently deleted automatically after the verification process so they only get shared if the document owner decides to share. The process works like this:

  • A seller initiates the Verify process by requesting service and entering their own email and the prospective buyer's email
  • A unique link is sent to both parties which, when followed, prompts the user to fill out a short form with their information used in the NDA and fee agreement between the user and Anubis Digital (name, address, phone, etc.) 
  • An NDA is automatically generated between the user and Anubis Digital; this is the first layer of protection to assure your documents are never shared
  • Once registration is complete and the NDA signed, the user uploads their required documents using a fully encrypted process that encrypts the file and generates a one-time encryption key that is only available to the Anubis Digital analyst 
  • Buyers typically submit Letter of Intent (LOI) and Proof of Funds (POF) in the form of a bank comfort letter or attorney attestation
  • Sellers typically submit Proof of Life (POL)/ Proof of Product (POP) in the form of an SGS report or potentially pictures/video with some sort of customization for the transaction
  • The Anubis Digital analyst reviews the documentation to make sure it meets the basic requirements to move forward (i.e. buyer's name on LOI matches POF, LOI addressee correct; seller pic/video matches buyer info, SGS report verified, etc.)
  • The Anubis Digital analyst provides a report that says whether or not each party's documentation meets the requirements
  • Parties decide whether to move forward
  • If the transaction moves forward, the "Verify" fee agreement is provided to buyer and seller attorneys as well as paymaster or escrow agent as applicable

Payment for the Anubis Digital black box verification service is 0.25% of the transaction value payable by wire transfer at the time of and as a condition of closing by the paymaster or escrow agent where applicable