What is KYC? KYC stands for Know Your Customer . In business, KYC is used for money transaction transparency. Identification and suitability of customers is done by KYC for transaction of money in business. KYC eliminates the risk of illegal money transactions. KYC is important to check details of the applicant are right or fake. Note:- It is not possible to open a bank account or account for mutual funds without KYC compliance. You can not open any of the accounts without the Know Your Customer Documents. They are four elements of KYC policies:- Customer Acceptance Policy. Customer Identification Procedures. Monitoring of Transactions. Risk management. There are important document for register KYC to proof address and identity · ...
KYC very important for .........