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What is Know Your Customer?

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Know your customer is the process of verifying customer identity and information. This is considered a basic due diligence that helps to ensure compliance.


Know your customer is often a requirement for industries such as banking. This typically involves a conversation with the customer and inspection of documentation such as identification. Employees will ask a few questions designed to confirm the customer's information to detect if something doesn't feel right. Know your customer also typically has an automated component that investigates customer data.
The goal of know your customer is to confirm that the customer is being truthful in representing their identity, intentions and data such as employment or business information.
Overview: Know Your Customer
Due diligence in verifying customer identity and information.
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