The basic document requirements comply with the standards of the EU anti-Money Laundering Directive. To open an account, you need to provide a government-issued ID card with a chip that is valid for more than 6 months (such as the new version of the Chinese ID card with a size of 85.6×54mm), or a high-definition scan of the information page of your passport (with a resolution of ≥300dpi). According to the 2024 report of the European Banking Authority, the rejection rate of dominion markets documents is only 3.1%, lower than the industry average of 7.8%. However, the rejection probability for users in developing countries due to document format issues is as high as 18.7% (for example, the Aadhaar card in India requires additional address proof).
The application of biometric technology enhances dynamic verification. The liveness detection adopts the modeling of 468 facial feature points and completes the blink detection and 3D facial topology analysis within 0.8 seconds. After the upgrade of the authentication system in 2023, the AI anti-counterfeiting recognition rate has increased to 99.2%, capable of intercepting Deepfake forged videos (with an action delay deviation of > 113ms). However, complaint cases from British users show that the failure rate of facial recognition for people over 55 years old is 28%, and it takes 72±13 hours to transfer to manual review.
The residence certificate must contain precise geographical coordinates. The water and electricity bills within the last 90 days must fully display the address (with a character recognition accuracy of 0.99), and the GPS positioning must match the geographical location within a radius of 5 kilometers of the account opening IP. According to statistics from the German Federal Financial Supervisory Authority, such verification reduces the risk of money laundering by 73%, but in the first quarter of 2024, 175,000 users were unable to withdraw their funds due to issues with such documents (with an average processing delay of 96 hours).
Financial instrument verification binding microtransaction traceability. For bank card verification, a photo of the card face with the dynamic verification code (CVV2) must be submitted, and a micro-transfer of 1-2 US dollars must be completed (the amount must be precisely matched with the payee “* * dominionmarkets * * LTD” on the bank statement). The CySEC audit report shows that this measure has reduced the account theft rate by 923.8% (accounting for 1.9% of the amount credited).
There are significant fluctuations in the efficiency of the workflow. The average pass time for standard electronic identity verification (eIDAS) is 27 hours. During working hours in Europe and America, the success rate exceeds 95%, but for users in the Asia-Pacific region, due to the time difference, the manual review is delayed to a peak of 58 hours. The platform claims that 97% of accounts are activated within 48 hours. In fact, FinCEN data for 2023 shows that the average activation time is 73 hours (with a delay of over 120% on weekends).
When the data security standard for the payment card industry requires that the strength of the encryption key reach 2048 bits, the identity document information uploaded by users is only statically encrypted and stored through AES-256 – the Portuguese user data breach incident in 2023 proved that hackers could crack the verification system protection within 42 minutes. The real security paradox lies in the fact that although strict authentication has reduced account takeover fraud by 89%, the scanned copies of passports stored on the platform’s servers have become high-risk items worth $30 per copy on the dark web. This is precisely the core basis for the Italian Central Bank’s fine of €2.6 million to a Cypriot broker.