The Know Your Client (KYC) and Anti Money Laundering (AML) process is a standard process in the investment industry that ensures investment advisors know detailed information about their clients’ risk tolerance, investment knowledge and financial position. The aim of KYC/AML is also to prevent theft, fraud, terrorist financing and money laundering. It helps us ensure that our clients are not involved in any of the above, hence the service provider won’t get in trouble with the regulators.
In addition, the Bitex ICO is being issued from Singapore. The KYC / AML for larger contributorinvestors is needed to be totally within the local regulations and laws.