Know Your Customer (KYC)

Know Your Customer is a control procedure that financial institutions offer customers to identify and avoid risks. KYC Check plays a crucial role in eliminating the risks associated with money laundering, corruption, fraud, bribery, and other illegal financial activities.One of the controls to determine the customer's risk level is sanctions, PEP, and Adverse Media checks.

For more: https://sanctionscanner.com/knowledge-base/know-your-customer-kyc-46