KYC is essential, especially within crypto

As gatekeepers of conventional monetary markets, one of many foremost imperatives for banks and monetary establishments is to uphold the integrity of, and belief in, the markets themselves. History has proven that this ethical burden alone has not stopped such establishments from participating in suspect conduct, with governments internationally responding by imposing laws to make sure these establishments adhere to the rule of legislation. 

About the creator

Rachid Ajaja, CEO and Co-founder of AllianceBlock

A latest report by Fenergo discovered that in 2020, penalties incurred by monetary establishments for non-compliance with Anti-Money Laundering (AML), Know Your Customer (KYC), knowledge privateness, and Markets in Financial Instruments Directive (MiFID) laws totaled a staggering $10.6 billion globally. 

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About the Author: Daniel