KYC

Abbr. for Know-your-Custo­­mer Prin­ci­ple, (English for “Get to know your custo­mer”). This refers to the veri­fi­ca­tion of perso­nal and busi­ness data of new custo­mers of a credit insti­tu­tion for the preven­tion of money laun­de­ring and terro­rist finan­cing on the basis of the Money Laun­de­ring Act 2008.