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Know your customer (KYC)

Need help understanding KYC compliance obligations and regulations?

Product sheet: KYC / CIP compliance

Fraud is increasing and fraudsters are becoming more and more sophisticated. Knowing who you are doing business with is imperative. Ensuring your financial institution or business complies with the latest regulations and internal policies can be daunting and incredibly challenging.

We understand—and we’re here to help.

 

What is Know Your Customer?

Know Your Customer (KYC) is the due diligence and regulation that financial institutions and regulated companies must perform to identify their clients. KYC ensures that your organization can identify and verify your customers and protect your business from illegal activities like money laundering and terrorism financing.

KYC requires financial institutions and businesses to establish and validate each customer's identity, understand the nature of the customer's activities, make sure the source of funds are legitimate and assess the risk of potential money laundering associated with each customer.

Banks should regularly re-evaluate and refresh KYC programs to ensure they are meeting all regulatory requirements. 

Learn more about financial fraud:

Financial compliance

Can your compliance program keep up with the regulatory market?

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Payment fraud

Catch payment fraud schemes with real-time monitoring.

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AML

Are you meeting anti-money laundering compliance requirements?

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Risk management

Fraud risk is real -- manage your exposure to risk factors to mitigate damage and secure servers.

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Financial fraud

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Cross your T’s and dot your I’s

Regulations and requirements are increasing around KYC. These rules are critical to stopping money laundering or other terrorism financing.

Ensuring you meet these requirements on an ongoing basis might seem challenging, but it is necessary. And that’s where we come in.

Let us help you stay compliant and ease the burden of ongoing regulatory monitoring.

 
 

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