Know Your Customer (KYC)

Know Your Customer (KYC) KNOW YOUR CUSTOMER (KYC), CASH TRANSACTIONS REPORT (CTR) AND SUSPICIOUS TRANSACTION REPORT (STR)  A definition of what constitutes the offence of money laundering under Bangladesh law   of the Prevention of Money Laundering Act 2002: “Money Laundering means – Properties acquired or earned directly or indirectly through illegal […]

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KNOW YOUR CUSTOMER (KYC) KNOW YOUR CUSTOMER (KYC): The adoption of effective Know Your Customer (KYC) program is an essential part of financial institutions’ risk management policies. Having sufficiently verified/corrected information about customers ―Knowing Your Customer (KYC) – is the most effective defense against being used to launder the proceeds […]

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