Full form of KYC

Question

Full form of KYC

Accepted Answer

KYC stands for Know Your Customer.

KYC is a process used by businesses to verify the identity of their customers.
It involves collecting and verifying customer information to prevent fraud and money laundering.
KYC typically includes gathering personal details, such as name, address, and identification documents.
The information collected during KYC is used to assess the risk associated with a customer and ensure compliance with regulations.
KYC is commonly used in industries like banking, insurance, and telecommunications.

Accepted Answer

Know Your Customer. It is a process carried out to verify your identity when opening new accounts with certain service providers. For financial services, the KYC process is mandatory and is an important way in which institutions verify the identity of their customers.

Full form of KYC

Popular interview questions of Plant Incharge