Know your customer KYC is the process of a business verifying the identity of its clients and assessing potential risk of illegal intentions for the business. The term is also used to refer to the bank regulations and anti-money laundering regulations which govern these activities.
Know your customer processes are also employed by companies of all sizes for the purpose of ensuring their proposed employees, consultants, or distributors are anti-bribery compliant. Bank, insurers and exports creditors are increasingly demanding that customers provide detailed anti-corruption due diligence information.
