Know Your Customer or KYC is a procedure required by law to verify the identity of a customer. 

KYC refers to the steps taken by a business to:

  • Establish the identity of the customer
  • Understand the nature of the customer’s activities (the primary goal is to verify that the source of the customer’s funds is legitimate)
  • Assess money laundering risks associated with that customer for purposes of monitoring the customer’s activities

 The documents needed for this identification procedure are:

  • a proof of identity (POI) like a passport and 
  • a proof of address (POA) like a bank statement or mobile phone bill 

With BlueMeg's specially developed console you can do the entire KYC-process online in a few minutes. 

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