Financial Terms

KYC

It helps in preventing fraud and financial crimes such as money laundering. The process involves collecting information about a customer's identity, occupation, and source of income.

KYC, or "Know Your Customer," is a crucial concept in the world of finance. It enables institutions to ensure the legitimacy of their customers and prevent potential financial crimes. By collecting details like identity, occupation, and source of income, KYC helps institutions stay vigilant and protect against fraud and money laundering. In other words, it's a necessary step towards maintaining the integrity and security of the financial industry.

Related terms

Harmless Warrants

Understand the meaning and definition of Harmless Warrants in the context of stock market, trading, and investments.

MORE
Lead Underwriter

Understand the meaning and definition of Lead Underwriter in the context of stock market, trading, and investments.

MORE
Consolidated Fund of India

Understand the meaning and definition of Consolidated Fund of India in the context of stock market, trading, and investments.

MORE
Open Free Demat Account!

Join our 3.5 Cr+ happy customers

+91
Explore other categories
Enjoy Zero Brokerage on Equity Delivery
4.4 Cr+DOWNLOADS
Enjoy Zero Brokerage On Stock Investments

Get the link to download the App

Get it on Google PlayDownload on the App Store
Open Free Demat Account!
Join our 3.5 Cr+ happy customers