KYC, an abbreviation for "Know Your Customer," is a crucial procedure employed by businesses and financial institutions to authenticate the identity of their clients or customers. Its primary objective is to combat fraudulent activities, money laundering, terrorist financing, and other illicit endeavors.

The KYC process encompasses the gathering of personal details and identification documents from customers, followed by a meticulous examination to ensure the accuracy and authenticity of the provided information. This verification typically involves confirming essential details such as the customer's name, address, date of birth, and other pertinent information.