What Is KYC? Understanding Customer Verification
KYC (Know Your Customer) is the process financial institutions use to verify identities, assess risk and prevent fraud. It involves document checks, screening and ongoing account monitoring.
Banking Security
What Is KYC? How It Protects Customers and Banks
Know Your Customer (KYC) is the identity-verification process banks use to prevent fraud, money laundering and scams – protecting customers’ assets and preserving trust in financial institutions.