Medi Assist Healthcare IPO

Home Financial Terms

Finance Wiki

Trending Categories

All Financial Terms Financial Instruments Market Entities Corporate Actions Public Offerings Fixed Income Instruments Currency Commodity Mutual Funds Derivatives Trading Terms Taxes

More

Derivatives Trading Terms Taxes Property Fixed Income Credit Cards Options and Futures Stocks Insurance IPO Technicals Retirement Planning Loans Gold Bank Deposits

A

B

C

D

E

F

G

H

I

J

K

L

M

N

O

P

Q

R

S

T

U

V

W

X

Y

Z

#

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.

Merger

This new entity is then able to combine their resources, strengths, and expertise to create a larger, more competitive organization. A merger occurs when two distinct entiti...

More

Capital Asset

In the realm of finance, the term capital asset refers to any property that is owned by an individual or entity. This can encompass a wide range of assets, including but not...

More

Financial Reporting Framework (FRF)

It includes accounting principles, standards, and guidelines that must be followed in recording and reporting financial data. It is important for businesses to have a solid u...

More

Audit

Think of an audit like a deep dive into a company's financial closet by someone with a really keen eye, called an auditor. The auditor rummages through all the company's money...

More