KYC Verification

KYC/AML Verification

KYC/AML Verification

“Know Your Customer” is the process of verifying the identity of customer. The objective of KYC guidelines is to prevent banks from being used, by criminal elements for money laundering activities. It also enables banks to understand its customers and their financial dealings to serve them better and manage its risks prudently.

Why Is KYC Important For You?

The objective of the KYC is to identity theft; prevent terrorist financing, money laundering and financial fraud. KYC allows us to understand the customer better and manage risks prudently. KYC collects and verifies basic details of the customers like:

  •   Name and authorized signatures
  •   Legal status of the legal entity or a person
  •   Identity of the beneficial controllers and owners of the account

Why We Follow KYC Policy?

Every financial institute, including mutual fund distributors, has to follow KYC when dealing with customers. You will have to adhere by the policy when:

  •  Seeking financial planning through a registered board
  •   Investing in mutual funds
  •   Opening some subsequent account
  •   Opening a bank account
  •   Applying for a loan or credit card