What is Know Your Customer?

Know Your Customer (KYC) refers to the measures that companies take to understand who their customers are, and extend to their customers’ beneficial owners, where relevant. KYC can also include the process to acquire information on the intended nature and purpose of the transaction or business relationship with the customer, and measures to monitor the business relationship on an ongoing basis. The KYC process is an essential tool across all aspects of business, including the shipping industry, helping you to ensure that you know your customer or counterparty.

DOCUMENT

Know Your Customer Explained: Why you need KYC

Know Your Customer (KYC) refers to the measures that companies take to understand who their customers are and extend to their customers’ beneficial owners, where relevant. Click to access our Best practice document.

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WEBINAR

Due Diligence Best Practices in the Shipping Value Chain

Watch back an insightful discussion from our expert panel on the evolving counterparty compliance requirements in the maritime industry and how regulators and industry expectations are shaping the need for enhanced due diligence.

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