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What is KYC in Forex and Crypto?

24 August 2021, 15:08

Know Your Customer is also known as KYC. It is the regulatory method to identify consumers, watch their transfers, find risks quickly, and avoid illicit activities.

KYC measures are the significant parts of an anti-money laundering policy (AML).

A company can confirm a customer’s identity by checking his or her personal data and transfers. And only then he or she will be allowed to access a website. With the use of KYC policies, financial businesses have a chance to learn more details about consumers.