Finance

KYC (Know Your Customer)

Definition

The process of verifying the identity of customers. Legitimate financial services require KYC. Scams often either skip KYC entirely (allowing anonymous transactions) or use fake KYC to steal your identity documents.

Real Examples
  • 1Legitimate exchanges require ID verification
  • 2Scam platforms accepting large deposits without any verification
  • 3Fake platforms asking for ID photos that they then use for fraud

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