Difference between revisions of "KYC"
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==Context== | ==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. | 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. | ||
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| + | ==Solutions== | ||
| + | * FAPI 2 | ||
| + | * GAIN | ||
| + | * [[KYC]] can also be viewed as a collection of data that can be shared as [[SSO]] with other financial institution to quickly create new banking relationships. https://www.linkedin.com/pulse/reusable-kyc-gartners-decentralized-identity-market-guide-9jbyc/ | ||
==References== | ==References== | ||
[[Category: Identity]] | [[Category: Identity]] | ||
Revision as of 21:02, 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.
Solutions
- FAPI 2
- GAIN
- KYC can also be viewed as a collection of data that can be shared as SSO with other financial institution to quickly create new banking relationships. https://www.linkedin.com/pulse/reusable-kyc-gartners-decentralized-identity-market-guide-9jbyc/
