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Glossary

KYC

Know Your Customer

Verifying an individual customer's identity.

KYC establishes that a person is who they claim to be, generally against government identity documents and identity data. A person has one document; a business has a file that never closes.

See also

KYB

Verifying a business customer and the people behind it.

CIP

The foundation of identity verification.

CDD

FinCEN's four pillars for verification.

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