Customer Identification

Customer identification is the process of verifying the identity of a customer to ensure they are who they claim to be. This is a critical step in complying with anti-money laundering (AML) regulations and forms part of the Know Your Customer (KYC) procedures. Customer identification typically involves obtaining personal information and verifying it through official documents or third-party sources.

Accurate customer identification helps prevent fraud, money laundering, and other financial crimes.