KYC (Know Your Customer)
A mandatory compliance process for financial and regulated industries, requiring businesses to verify the identity of their clients.
Know Your Customer (KYC) is a standard procedure that UK-licensed casinos must perform as part of their AML and responsible gambling obligations. It is the core process of Account Verification.
The goal of KYC is to establish that a player is who they claim to be, is of legal gambling age, and is not using the platform for illicit purposes. It typically involves the submission and verification of identity and address documents. While it can seem inconvenient, a robust KYC process is the hallmark of a safe and compliant operator.
Formulas and examples
KYC is a component of:<br>- Age Verification<br>- Identity Verification<br>- AML Compliance<br>- Source of Funds Checks