Know Your Customer (KYC) is an approach applied by Financial Institutions (FIs) and other regulated entities for Customer Identification. It is a standardized and regulated compliance approach to verify the true identity of customers.

Earlier in the 1800s, the Biometric Identity Verification System was first introduced in Paris, France. Alphonse Bertillon developed a specific method of classification for criminals through body measurements.

KYC (Know your Customer) is a mandatory process for the identity verification of customers when opening up a bank account. Simply, the clients are required to be honest about their identity

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About KYC AML Guide
KYC/AML Guide is your trusted source for staying compliant in the world of Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. Whether you're a small business owner or a compliance officer, the expert-written guides and resources will help you understand and implement these complex regulations. Through the user-friendly website of KYC/AML Guide, you'll be able to find the information you need quickly and easily, and stay up-to-date on the latest industry developments. Keep your business safe and compliant with KYC/AML Guide.