KYC Process definition

KYC Process means any ‘Know Your Client’ process required to be made by the Company under the Prevention and Suppression of Money Laundering and Terrorist Financing Laws of 2007-2019, as amended, and all Applicable Regulations, and which are designed to identify the Client, verify the identity of the Client, perform background checks on the Client, construct an economic profile of the Client and assess the appropriateness of the Services to the Client.
View Source
KYC Process means any "Know Your Client" process required to be made by the Company under the Prevention and Suppression of Money Laundering Activities Law of 2019, as amended, and all Applicable Regulations, and which are designed to identify the Client, verify the identity of the Client, perform background checks on the Client, construct an economic profile of the Client and assess the appropriateness of the Services to the Client.
View Source
KYC Process or “Due Diligence” shall mean any "Know Your Client" process required to be made by the Company under the Prevention and Suppression of Money Laundering Activities Law and all Applicable Regulations and Directives, and which are designed to identify the Client, verify the identity of the Client, perform background checks on the Client, construct an economic profile of the Client and assess the appropriateness of the Services to the Client.
View Source

Examples of KYC Process in a sentence

  • KYC Process – means any "Know Your Customer" process required to be made by the Company under applicable Laws and Regulations, and which are designed to identify the Customer, verify the identity of the Customer, perform background checks on the Customer, construct an economic profile of the Customer and assess the appropriateness of the Services to the Customer.

  • The information collected and obtained from the Client during the KYC Process may be used in the prevention of money laundering as well as for the Company’s risk management purposes.

  • MERCHANT acknowledges that NT periodically reviews MERCHANT and its business relating to the KYC Process during the term of the Agreement, including inter alia, monitoring of fraud reports and Chargeback rates, screening against sanctions and PEP lists, Website content checks and periodic credit ranking and monitoring of settlement reports.

  • NT will only provide the Services to the MERCHANT upon successful completion of its KYC Process and its anti-money-laundering and risk due diligence in accordance with the laws of Estonia and European law, including, but not limited to, Regulation (EU) 2016/679, and Directive (EU) 2015/849 and acceptance of MERCHANT by an Acquiring Bank and/or a provider of Alternative Payment Method, if not directly accepted by NT in accordance with NT’s ability as payment facilitator.

  • Any Subscriber who fails to complete the KYC Process or who fails to satisfy KYC/AML policies of the Issuer or the Paying Agent, shall be barred from subscribing for Crowdlitokens.

  • Subscribers subscribing for an amount of CHF 5’000 or more or the equivalent amount in another Currency will be subject to an enhanced KYC process (the "Enhanced KYC Process").

  • Pursuant to our KYC procedure, in addition to documentation, we may also choose to verify your identity through a video and/or audio call conference (collectively, the "KYC Process").

  • Subscribers subject to the Enhanced KYC Process will be charged a fee of CHF 40.00.

  • This KYC Process and AML Checks may be (but not limited to) watch lists, databases and address verification services.

  • You acknowledge that in order to conduct the verification process and/or background checks, in accordance with our KYC Process and AML Policy, we may perform inquiries, directly or indirectly through third party service providers to prevent fraud, suspicious activity, misidentification, money laundering or any other prohibited activity.


More Definitions of KYC Process

KYC Process means the “Know Your Customer” process which has been approved by the Issuer to identify Applications and which will be carried out by WEX Europe on Applicants.
View Source
KYC Process refers to the Know Your Customer process, which is a mandatory identity verification process for Users.
View Source
KYC Process means any ‘Know Your Client’ process required to be made by the Company under the Prevention and Suppression of Money Laundering and Terrorist Financing Laws of 2007-2019, as amended, and all Applicable Regulations, and which are designed to identify the Client, verify the identity of the Client, perform
View Source
KYC Process. Means the Company’s Know Your Client (KYC) process, which must be successfully completed before a Partner can refer New Clients to the Company or before a New Client can become a New Client.
View Source
KYC Process means any "Know Your Client" process required to be made by the Company under the Financial Intelligence Centre Act, and all Applicable Regulations & amendments, and which are designed to identify the Client, verify the identity of the Client, risk rating, perform background checks on
View Source
KYC Process means the due diligence process carried out in relation to the provision of the Service, in accordance with the applicable Laws, Regulations and our requirements for providing the Service.
View Source

Related to KYC Process

  • RFP Process or “Bidding Process” means the process governing the submission and evaluation of the Bids as set out in the RFP itself;

  • Manufacturing Process means any process for—

  • Licensed Process means a method, procedure, process, or other subject matter whose practice or use is Covered By any claim or claims included within the Patent Rights or uses Technology Rights.

  • Procurement Process means the process commenced by the issuing of this Invitation and concluding upon the award of a contract (or other outcome as determined by Tetra Tech International Development) or upon the earlier termination of the process

  • Agreed Process means any process agreed between the parties in respect of a Dispute other than the Dispute Resolution Procedure, as may be amended between the parties.