PassCash (KYC) Know Your Customer due diligence is one of the most important compliance requirements. KYC due diligence is a process whereby PassCash collects and verifies customer information in order to prevent money laundering and other financial crimes.

KYC due diligence typically involves four steps: customer identification, customer risk assessment, customer onboarding, and ongoing monitoring. Financial institutions must complete these steps for each and every customer that they onboard.

Completing KYC due diligence is a critical part of financial crime prevention, and it is important for financial institutions to have robust KYC processes in place. This article provides an overview of everything you need to know about KYC due diligence, from the different steps involved to the benefits of completing KYC due diligence.