KYC (Know Your Customer) Definition
Know Your Customer (KYC) is a mandatory due diligence process for financial institutions and other regulated entities to verify the identity of their clients an
Know Your Customer (KYC) is a mandatory due diligence process for financial institutions and other regulated entities to verify the identity of their clients and assess their risk profile. It is a fundamental pillar of Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) compliance, designed to prevent financial crime and ensure regulatory adherence.