KYC Definition.
Know Your Customer: identifying and verifying a customer’s identity at onboarding and on an ongoing basis, through ID documents, liveness detection, and PEP and sanctions screening. It is the operational foundation of AML/CFT for every PSP. In France, remote onboarding relies on certified identity verification providers (the PVID framework of ANSSI, France’s cybersecurity agency) or on digital identity.
See also
Where this term appears
GuideMerchant, acquirer, PSPGuideAgents, distributors, and banking-as-a-service: who is liable for whatGuidePayments in the Nordic countriesGuidePayments in SwedenGuidePayments in South Asia outside IndiaGuidePayments in IndiaGuideMobile money in AfricaGuidePayments in West and Southern AfricaGuidePayments in the United Arab EmiratesGuidePayments in GhanaGuidePayments in the Gulf and the Middle EastGuidePayments in Kenya