Know your customer
FINANCIAL INSTITUTION AND COMPANY-RELATED TERM
Know Your Customer; KYC/AML; E-KYC; Enhanced due diligence; Electronic know your customer; EKYC; Know your customers
The Know Your Customer (KYC) guidelines in financial services require that professionals make an effort to verify the identity, suitability, and risks involved with maintaining a business relationship. The procedures fit within the broader scope of a bank's anti-money laundering (AML) policy.