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Jan 12 (OPTA) - Summaries for the Friendlies on Thursday (start times are GMT) Friendlies 1 .................................................................
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Banks:
Anyone can open a bank account. Even money launderers, terrorists and all sorts of anti-social elements
The banks would have no way of figuring out if the money in their accounts is used by genuine customers or terrorists to fund their terrorist operations
Customers:
a.
Anyone can open a bank account. Even money launderers, terrorists and all sorts of anti-social elements
The banks would have no way of figuring out if the money in their accounts is used by genuine customers or terrorists to fund their terrorist operations
Customers:
a.
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Know Your Customer (KYC) is the due diligence and bank regulation that financial institutions and other regulated companies must perform to identify their clients and ascertain relevant information pertinent to doing financial business with them.
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Adherence to Know Your Customer (KYC) requirements is not just something to check a box next to in today's complex and heavily regulated business environment; it is a vital lifeline for companies.
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