#ActiveUserImpact

ActiveUserImpact,and more details!

KYC focuses on consumers and works to identify a specific individual, while KYB focuses on verifying the businesses they do business with. KYB is often referred to as a subset of KYC compliance. Anti-money laundering is the process of ensuring that a business or consumer who is accepted by a financial provider is not engaging in financial crime.

What is KYC or KYB?

Know Your Customer (KYC) and Know Your Business (KYB) are common regulatory requirements for financial institutions that require them to identify their customers and understand the type of financial activity they are engaged in