Complaince System
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KYC Compliance Tracking
Understanding Know Your Customer (KYC)
What is KYC?
KYC tracks customer identity verification to comply with Anti-Money Laundering (AML) and counter-terrorism laws. Financial institutions collect accurate identity information at the customer onboarding stage to mitigate risks and ensure regulatory adherence.
How to Track Compliance
- Conduct regular audits of KYC documents and processes to identify gaps and enhance regulatory compliance.