What is Know your business ( KYB) ?

Question

Accepted Answer

KYB is the process of verifying the identity and legitimacy of a business entity.

KYB involves collecting and verifying information about a business, such as registration documents, ownership details, and financial statements.
It helps in assessing the risk associated with doing business with a particular entity.
KYB is important for compliance with regulations and preventing financial crimes like money laundering and fraud.
Examples of KYB information include business registration certificates, tax identification numbers, and beneficial ownership details.

Accepted Answer

The KYB is stands for know your business ,where there is a transaction between company and their customers we do  KYB to check the  background of the person and also make sure the person do not involves in any kind of activities which can be harmful business ,and product.

What is Know your business ( KYB) ?

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