Different Methods of Customer Identification #infographic

KYC, which stands for Know Your Customer or Know Your Customers, is the global customer recognition mechanism. It is the customer's identification and authorization process that considers risk factors relevant to the business. As part of the oversight of general banking and anti-money laundering practices, banking and financial institutions typically practice KYC. Some businesses, however often conduct KYC to monitor risk factors and ensure that their clients comply with the anti-bribery evaluation.

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infographic by: www.m2sys.com

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