Know Your Customer (KYC) procedures are fundamental in Anti-Money Laundering (AML) efforts, forming the cornerstone of financial integrity and security.
KYC involves verifying the identity, suitability, and risks associated with a business relationship. The primary importance of KYC in AML is its role in preventing financial crimes, including money laundering and terrorist financing. By ensuring that financial institutions know who their customers are, they can […]
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