WHY “KNOW YOUR VISITOR” IS CRITICAL TO PROVIDING 21ST CENTURY SECURITY
In today’s banking and finance sectors, Know Your Customer (KYC) is an essential process in which businesses verify and assess the identity of their clients. By collecting basic customer data (name, birthdate, address, and social security number) institutions compare this information to lists of individuals that are known for corruption, on sanctions lists, known as politically exposed persons (PEP), suspected of being involved with a crime, or at high risk of partaking in bribery or money laundering.
KYC processes prevent financial misuse—intentionally or unintentionally—by criminal elements for corruption, bribery, terrorist financing, and money laundering activities; as well as to ensure all parties are anti-bribery compliant.
KYV Technology is a natural extension to these safety persuasions. Read more about how KYV Technology can put protection and prevention at the forefront of your business. Download the whitepaper here.