A third of Grupeer investors have not completed ‘know your client’ (KYC) questionnaires, the platform has revealed.
The Latvian peer-to-peer lender has been auditing its portfolio in efforts to stabilise its platform and resume activity.
As part of this it has been monitoring its anti-money laundering procedures and has updated its KYC documents but has found that out of 29,424 investors, 34 per cent have not completed their original ones.
Inventors have been asked to sign the new documents by the end of the month.
“Our main priority is to recover from the crisis in the best way possible for our investors,” Alla Kisika, chief executive of Grupeer, said.
“We are doing the utmost to deliver the most viable action plan for our investors till the end of June.”
Grupeer has blamed a suspension in activity on the coronavirus pandemic and state of emergency across Europe and has indicated that it will be back on track in one to two years.
However, not all investors are convinced and there are plans to launch legal action so they can recoup their funds.
An action group has been established, named GRP-5612 after Grupeer’s last loan, and is instructing lawyers following concerns over the platform’s decision to suspend operations and block withdrawals.