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.
customer due diligence
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.
Decoding KYC: Essential Insights into Customer Verification
KYC, or Know Your Customer, is vital in today’s finance, enabling businesses to verify identities and combat fraud. This process not only reinforces trust but also safeguards financial transactions, crucial for both clients and institutions navigating the digital economy.