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Safety

KYC

Know Your Client

KYC is the identity check a regulated financial company must carry out before and during a client relationship. It usually means providing proof of identity and proof of address, and it helps prevent fraud and money laundering.

Also called: know your customer, identity verification, account verification, KYC verification

Hypothetical example

Hypothetically, a new client uploads a passport photo, a recent utility bill and a selfie in the client area, and the account is verified once the documents are checked.

Related terms

Used in these guides

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