What is KYC? Financial regulations to reduce fraud | Plaid
https://plaid.com/resources/banking/what-is-kyc/
WebNov 2, 2022 · KYC is a legal requirement for financial institutions and financial services companies to establish a customer’s identity and identify risk factors. KYC procedures help prevent identity theft, money laundering, financial fraud, terrorism financing, and other financial crimes. Failure to meet KYC requirements can result in steep fines and ...
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