A news release from the FSC on 30 July said that it had announced its commitment to support the financial services industry with the development of a shared ‘know your customer’ (KYC) utility to provide a shared tool for verifying customers’ identity. This could result in reduced costs when taking on new clients, whilst introducing an enhanced degree of assurance as to the quality of these client processes.

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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