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Know your customer (KYC) guidelines and regulations in financial services require professionals to verify the identity, suitability, and risks involved with maintaining a business relationship with a customer. The procedures fit within the broader scope of anti-money laundering (AML) and counter terrorism financing (CTF) regulations.
Richard Teng is the chief executive officer (CEO) of Binance, a company that operates one of the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies. Previously, he worked for the Monetary Authority of Singapore and was chief regulatory officer of the Singapore Exchange and CEO of the Abu Dhabi Global Market .
The Customer Identification Program is intended to enable the bank to form a reasonable belief that it knows the true identity of each customer. The CIP must include new account opening procedures that specify the identifying information that will be obtained from each customer.
Binance Academy: An open-access learning hub that provides free crypto education. Binance Charity: A nonprofit foundation dedicated to blockchain-enabled philanthropy.
Screening for PEPs is usually performed at the beginning of account opening, called standard due diligence or KYC. Screening of accounts periodically is performed as part of ongoing due diligence. There are a number of companies advertising for regulatory, financial and reputational risk screening.
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Binance Holdings Ltd., branded Binance, is a global [8] company that operates the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies. Binance was founded in 2017 by Changpeng Zhao, a developer who had previously created high-frequency trading software. Binance was initially based in China, then moved to Japan ...
Create account; Log in; Personal tools. Donate; Create account; Log in; Pages for logged out editors learn more. Contributions; ... KYC may refer to: Know your ...