KYC (“Know Your Customer”) is Oolio’s process for verifying customer identity to meet regulatory requirements and prevent fraud, money laundering, and terrorism financing.
KYC is a term used in banking and merchant acquiring. It stands for “Know Your Customer”. Know Your Customer (KYC) is a fundamental process through which Oolio establishes and verifies the identity of our customers, in accordance with applicable regulatory requirements. The primary objective of KYC is to prevent and mitigate the risks associated with fraud, money laundering, and terrorism financing.
This process involves the collection and verification of personally identifiable information, such as government issued identification, as well as the assessment of customer risk profiles.
KYC forms an integral part of Oolio’s commitment to compliance with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) frameworks within the country we operate.