#regulation Know Your Customer (KYC) is a standard in the financial services industry that requires businesses to verify the identity of their clients. This process helps prevent fraud, in line with [[Anti-Money Laundering (AML)]] and [[Combating the Financing of Terrorism (CFT)]]. KYC procedures typically involve collecting information such as a customer's name, address, date of birth, and identification documents, and may also include risk assessment based on their financial activities.