KYC (Know Your Customer)

Know Your Customer" (KYC) is a set of guidelines designed for proper identification of an account holder customer for scrutiny monitoring of large value cash transaction. It aims at preventing financial institutions from being used intentionally or unintentionally by criminal elements for committing financial frauds, transferring or deposits of funds derived from criminal activity. The adoption of 'know your customer' policy or procedures by Dollar East has proven extremely effective in detecting suspicious activity in a timely manner.