What is KYC Process?
KYC Process The mandatory procedure for verifying the identity of clients and counterparties in digital asset platforms and portfolio operations, required by regulators to prevent money laundering, fraud, and financial crime.
Source: CFA Institute, IFRS Foundation, FASB (GAAP), Basel III Framework
How is “KYC Process” Used in Practice?
Portfolio onboarding at regulated exchanges requires completion of the KYC process for all beneficial owners and authorized signatories.
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Who Needs to Know This Term?
- Financial Analysts
- Bankers
- Traders
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What is KYC Process?
The mandatory procedure for verifying the identity of clients and counterparties in digital asset platforms and portfolio operations, required by regulators to prevent money laundering, fraud, and financial crime.
Where can I learn this term for free?
Termify is a 100% free professional English app that teaches KYC Process and 4,071+ other industry terms with native pronunciation, IPA transcriptions and career quizzes. Available on iOS in 23 languages. No subscription, no credit card required.
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