Know Your Customer (KYC) regulations
GPTKB entity
Statements (51)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:legislation
|
| gptkbp:appliesTo |
banks
financial institutions insurance companies fintech companies cryptocurrency exchanges brokerages |
| gptkbp:enforcedBy |
gptkb:European_Union
gptkb:India gptkb:United_Kingdom gptkb:United_States financial regulatory authorities |
| https://www.w3.org/2000/01/rdf-schema#label |
Know Your Customer (KYC) regulations
|
| gptkbp:introducedIn |
1970s
|
| gptkbp:originatedIn |
gptkb:Bank_Secrecy_Act_(BSA)
|
| gptkbp:purpose |
prevent terrorist financing
prevent money laundering |
| gptkbp:relatedTo |
gptkb:Customer_Due_Diligence_(CDD)
Anti-Money Laundering (AML) regulations |
| gptkbp:requires |
internal controls
employee training independent audit recordkeeping reporting to authorities risk-based approach document retention monitor customer transactions report suspicious activities verify customer identity assess customer risk customer risk profiling screening against sanctions lists collect customer information customer identification program (CIP) enhanced due diligence for high-risk customers identify politically exposed persons (PEPs) maintain records obtain government-issued identification ongoing monitoring of accounts periodic review of customer information screening for adverse media screening for corruption screening for fraud screening for identity theft screening for tax evasion verify address verify beneficial ownership verify date of birth |
| gptkbp:updated |
gptkb:USA_PATRIOT_Act
|
| gptkbp:bfsParent |
gptkb:Bank_Secrecy_Act_(BSA)
|
| gptkbp:bfsLayer |
7
|