KYC/AML Guide
Comprehensive guidance on Know Your Customer and Anti-Money Laundering requirements, including Sumsub best practices and jurisdiction-specific rules.
What is KYC?
Know Your Customer (KYC) is a regulatory requirement for financial institutions to verify the identity of their clients. The process typically includes:
- Customer Identification Program (CIP)
- Customer Due Diligence (CDD)
- Enhanced Due Diligence (EDD) for high-risk customers
- Ongoing monitoring
What is AML?
Anti-Money Laundering (AML) refers to laws and regulations designed to prevent criminals from disguising illegally obtained funds as legitimate income.
Sumsub Best Practices
Uway is an official Strategic Reseller of Sumsub, providing:
- Identity verification solutions
- AML screening
- Transaction monitoring
- Fraud prevention
Implementation Guidelines
- Workflow Design: Create verification flows matching your risk appetite
- Document Verification: Support multiple document types and jurisdictions
- Liveness Detection: Prevent spoofing attacks
- Ongoing Monitoring: Continuous screening against watchlists