What is the KYC section in Backoffice?

Article ID: 99943  

Question
What is the KYC section in Backoffice? Do I need to answer all of these questions?

Answer

KYC stands for Know Your Customer. It is the process we use to establish the identity of our clients. The term is also used to refer to banking and anti-money laundering regulations.

 

We only ask clients depositing/withdrawing more than USD 50,000 (via wire transfer) to fill in this form to meet our bank’s requirements. For others, this section is entirely optional.


Article Details
Views: 665 Created on: Aug 09, 2019