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KYC

Know Your Customer — verifying the identity of counterparties, users, and beneficial owners.

KYC obligations flow from Bank Secrecy Act rules, FinCEN guidance, and increasingly from crypto-focused regimes (MiCA, FinCEN's MSB rules). Requirements include identity verification, beneficial ownership disclosure, and ongoing monitoring.

Related terms

AML

Anti-Money Laundering — controls to detect and prevent illicit financial flows.

Sanctions Screening

Screening customers, vendors, and beneficial owners against OFAC, EU, UK, and UN lists.

See how Scarlet Risk covers KYC.

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