Damex App

Damex
Glossary

What is KYC

It’s a regulatory process that requires financial institutions to verify the identity of their clients.

Why KYC is important

KYC helps prevent fraud and ensures compliance with anti-money laundering regulations. It’s a process where financial services like Damex check who you are. KYC helps prevent fraud and ensures everything is legal.

Is KYC mandatory to enroll?

Yes, it is. It’s mainly done to protect you from fraud and impersonation.

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