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ELAN Humanitarian KYC Case Studies

2017 — By Electronic Cash Transfer Learning Action Network, ELAN

Know Your Customer (KYC) regulations, also known as customer due diligence, are designed to combat money laundering, terrorist financing, and other related threats to the financial system. They refer to the ID checks that financial institutions perform to comply with national financial regulations. While humanitarian agencies are not subject to KYC regulations, they do apply to financial service providers (FSPs) that humanitarian agencies partner with to deliver cash transfers.