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KYC

Know Your Customer: a process for checking customer identity, not a measure of service quality.

Concept and usage

Know Your Customer: a process for checking customer identity, not a measure of service quality.[1]

In context

KYC means “know your customer” and commonly describes checks of identity, account details or transaction purpose. The information requested and the events that trigger checks depend on the service and applicable local rules.[1]

Common confusion

The presence of an identity check does not by itself establish strong protections or explain how data is retained. Checks may occur at onboarding, before a payout, after an unusual transaction or during periodic review.[1]

Example

If a payment service asks for additional documents, check the document type, submission route and privacy notice through its official account flow. Do not send identity documents to an article, a comment thread or an unverified contact. Identity checks do not establish eligibility or explain how submitted data is stored or shared.[1]

Keep exploring

Related contextCrypto withdrawals: request, processing and receiptA withdrawal request asks a service to transfer value; it does not establish that a network transaction has been broadcast. Account checks and processing may precede transmission. This publication neither submits requests nor handles funds.Deeper analysisPayments: deposit and withdrawal are separate capabilitiesA service can accept one funding method and use another payout route. Payment instrument support, currency, identity checks and recipient conditions should be confirmed independently. A logo cannot describe the entire movement of funds.

Glossary

Related contextWithdrawalRelated contextOperatorRelated contextPayment Provider

Sources and scope

  1. Remote gambling and software technical standardsUK Gambling CommissionChecked:

    Technical and security requirements for UK-regulated remote gambling and software; not a statement of rules elsewhere.