KYC/AML Compliance

Know Your Customer and Anti-Money Laundering regulatory requirements for identity verification.

KYCAMLknow your customeranti-money launderingidentity verification

Definition

KYC (Know Your Customer) and AML (Anti-Money Laundering) are regulatory frameworks requiring businesses to verify customer identities and monitor for suspicious activities. These regulations are mandatory for banks, financial institutions, crypto exchanges, and many fintech applications.

KYC typically involves document verification (ID, passport), liveness detection (proving the person is real), and database checks (sanctions, PEPs). AML adds ongoing transaction monitoring and suspicious activity reporting.

ByEnnen's IDSentric provides comprehensive KYC/AML compliance with support for 195+ countries, 50+ document types, and real-time sanctions screening.

Examples

1.Customer onboarding for crypto exchanges

2.Merchant verification for payment processors

3.Investor accreditation for security tokens

Related ByEnnen Products

IDSentric

Identity Infrastructure

Related Terms

Decentralized Identifiers (DIDs)

Self-sovereign digital identifiers that don't require a centralized authority.

Verifiable Credentials (VCs)

Tamper-evident digital credentials that can be cryptographically verified.

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