KYC is mainly used in the course of customer acceptance processes - the so-called onboarding. It describes all the necessary steps used to identify the customer and assess the risk they pose. Many companies are required by law to know who they are doing business with. This includes not only the clear identification of the respective private or business customer, the company's own suppliers or investors, but also the validation of the information provided to the company. In addition, the documents, data and information of business partners must be checked and updated at appropriate intervals. If a company ...