KYC means Know Your Customer and sometimes Know Your Client. KYC check is the mandatory process of identifying and verifying the client’s identity when opening an account and periodically over time. In other words, Financial Institutions (FIs) must make sure that their clients are genuinely who they claim to be. KYC standards are designed to protect financial institutions against fraud, corruption, money laundering, and terrorist f
KYC means Know Your Customer and sometimes Know Your Client. KYC check is the mandatory process of identifying and verifying the client’s identity when opening an account and periodically over time. In other words, Financial Institutions (FIs) must make sure that their clients are genuinely who they claim to be. KYC standards are designed to … Read more