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.
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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 2003, as amended, and all Applicable Regulations, and which are designed to identify the Client, verify the identity of the Client, perform back-ground checks on the Client, construct an economic profile of the Client and assess the appropriateness of the Services to the Client.
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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.
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Examples of KYC Process in a sentence

  • The list of documents required to complete the KYC Process is given in the application form.

  • MIRSD/ Cir-26/ 2011 dated December 23, 2011, SEBI (KYC Registration Agency) Regulations, 2011 and SEBI Circular No. MIRSD/SE/Cir-21/2011 dated October 5, 2011, regarding uniformity in the Know Your Customer (KYC) process in the securities market and development of a mechanism for centralization of the KYC records to avoid duplication of KYC Process across the intermediaries in the securities market and further to simplify KYC norms and make it more investor friendly, Mirae Asset Trustee Company Pvt.

  • 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.

  • In terms of the Prevention of Money Laundering Act, 2002, the Rules issued there under and the guidelines issued by SEBI regarding the Anti Money Laundering (AML), all intermediaries, including Mutual Funds, have to formulate and implement a Client Identification Process, commonly referred to as Know Your Customer or KYC Process, to verify and maintain the record of identity and address of the investors.

  • If you have completed your KYC Process via CVL, the address of the 1st Applicant as registered with CVL will be automatically updated in our records.

  • 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").

  • Every Subscriber will be subject to a standard Know your Customer (KYC) process (the "Standard KYC Process").

  • 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.

  • The Enhanced KYC Process consists of a video conference call with the Subscriber in order to confirm the Subscriber’s identity information as well as a digital signature on KYC documents generated in the course of this call.


More Definitions of KYC Process

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
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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.
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KYC Process refers to the Know Your Customer process, which is a mandatory identity verification process for Users.
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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—

  • 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.

  • Process or “Processing” means any operation or set of operations which is performed upon the Personal Data, whether or not by automatic means, such as collection, recording, organization, storage, adaptation or alteration, retrieval, consultation, disclosure by transmission, dissemination or otherwise making available, alignment or combination, blocking, erasure, or destruction.

  • Bidding Process means the procurement procedure under which sealed bids are invited, received, opened, examined and evaluated for the purpose of awarding a contract;

  • Bid Process means the process of selection of the Successful Bidder through competitive bidding and includes submission of Bids, scrutiny and evaluation of such Bids as set forth in the RFP.

  • Pendency of the procurement process means the time period commencing with the public notice of the request for proposals and ending with the award of the contract or the cancellation of the request for proposals.

  • Cannabis processing facility means a person that: