Know Your Customer Checks are a standard practice adopted globally to verify the identify of clients. They're the cornerstone of a robust anti-money laundering (AML) and counter-terrorist financing (CTF) policy, and are pivotal in maintaining the integrity of banking systems by preventing identity theft, financial fraud, and illegal activities like money laundering and terrorist financing.

Know Your Customer Checks involve obtaining key information about a client, including proof of identity and proof of address. These checks help to increase trust and safety in financial transactions, reducing the risk of fraud and aiding the fight against financial crime.

By verifying the identity of customers, understanding their financial behaviours, and conducting ongoing monitoring, businesses can ensure safer financial transactions and bolster their credibility. They also ensure that businesses are compliant with relevant laws and regulations, protecting them from penalties and reputational damage.