Traceto.io: Know Your Customer(KYC)
Today, almost all the adult population of the civilized world is confronted with a verification procedure. Identification of the client, identification of the identity, is an obligatory part of the work of the banking system. In other words, the verification procedure is called the procedure KYC know your customer (know your customer). In this case, KYC is obliged to conduct any institution that works with the client's funds, is engaged in their transfer, storage, investment, or other financial transactions. This applies not only to individuals, but also to legal entities. It is believed that such verification prevents money laundering, obtained through criminal means and financing of terrorism. Let us leave aside the effectiveness of such methods of struggle, we emphasize that this is a worldwide practice and is realized through international organizations, such as FATF (Financial Action Task Force on Money Laundering), is an intergovernmental...