The term KYC stands for “Know Your Customer” or “Know Your Client.” A method by which a company should confirm a customer’s identity in order to assess their authenticity and trustworthiness. Banks, insurance firms, and other financial institutions are the most likely to employ this method to verify the credibility of clients. In the 1990s, KYC was first implemented in the United States. Following the 9/11 attacks, the rules were tightened. The need for KYC has arisen as a result of the global nature