Information for Medi-Share Applicants about "Know Your Customer" Verification

What is "Know Your Customer"?

Know your customer” or “KYC” is a due diligence process conducted to verify applicant identity and access, and to monitor risk. Essentially, KYC ensures an applicant is who they say they are.

Compliance with KYC regulations helps prevent all kinds of fraud schemes and helps financial institutions comply with Anti-Money Laundering laws by putting in checks and balances to ensure clients/customers are not engaging in criminal activities while using their services.