1. Home
  2. Knowledge Base
  3. Applying for Account
  4. Why is personal information requested?

Why is personal information requested?

KYC (Know Your Customer) check is the mandatory process of identifying and verifying the client. KYC allows financial institutions to detect any unusual behavior and risks associated with maintaining a business relationship.

Banks must comply with KYC regulations and anti-money laundering regulations to limit fraud, hence why we request items like ID card verification, face verification, document verification such as utility bills as proof of address, and other relevant information.

Was this article helpful?

Related Articles

Need Help?

Can't find the answer you're looking for?
Contact Us