Bell Rock glossary
Know Your Customer
The process of identifying and verifying investors and understanding their source of funds, as part of customer due diligence.
Know Your Customer (KYC), the practical core of customer due diligence (CDD), is the process by which a fund or entity identifies and verifies the identity of its investors and their beneficial owners, understands the nature of the relationship and the source of funds and wealth, and applies risk-based ongoing monitoring. It is a central requirement of the Anti-Money Laundering Regulations and is usually operated by the fund administrator or a specialist provider.
Related guidance
Suspicious Activity Report · Proliferation Financing
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