Difference between revisions of "KYC"
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==Full Title or Meme== | ==Full Title or Meme== | ||
Banks and other financial institutions where told that they need to [[Know Your Customer]], or [[KYC]] to help the financial regulators with Anti-Money Laundering (AML). | Banks and other financial institutions where told that they need to [[Know Your Customer]], or [[KYC]] to help the financial regulators with Anti-Money Laundering (AML). | ||
| + | ==Context== | ||
| + | KYC essentially means that the [[Verifier]] gets sufficient [[User Private Information]] to be able to track the flow of money in transactions that are deemed by financial authorities (like FinCen) to be money laundering. Typically called IAL2. | ||
| + | |||
==References== | ==References== | ||
[[Category: Identity]] | [[Category: Identity]] | ||
Revision as of 20:35, 24 July 2024
Full Title or Meme
Banks and other financial institutions where told that they need to Know Your Customer, or KYC to help the financial regulators with Anti-Money Laundering (AML).
Context
KYC essentially means that the Verifier gets sufficient User Private Information to be able to track the flow of money in transactions that are deemed by financial authorities (like FinCen) to be money laundering. Typically called IAL2.
