KYC and AML: More Than Just Jargon!

Wed, 30 Apr 2025 12:35:37 +0000

Think of this as you, the savvy online business owner, needing to know who you're actually doing business with. Is "SparklePony47" who just bought your entire stock of artisanal cat sweaters a real person, or is it some bot or, worse, someone using a stolen identity? KYC is the process of getting and verifying your customer's identity details – stuff like their name, address, date of birth, and maybe a peek at an official ID. It's like asking for ID at a club, but for your online store. This helps make sure you're dealing with legitimate customers and not folks trying to pull a fast one or, you know, fund their villainous lair.