WHAT IS KYC
KYC stands for "Know Your Customer." It is a process used by financial institutions, businesses, and other organizations to verify the identity of their clients or customers.
KYC is used to prevent identity theft, fraud, money laundering, and terrorist financing. The process involves collecting personal information from customers, such as their name, address, date of birth, and identification documents, and verifying that the information is accurate.
KYC requirements are often mandated by government regulations and may vary depending on the industry and jurisdiction.