KYC fraud: What is it, how it happens, and tips to avoid KYC fraud KYC fraud: What is it, how it happens, and tips to avoid KYC fraud KYC, or "Know Your Customer," is a crucial process used by banks, financial institutions, and other service providers to verify the identity of their clients. The primary goal of KYC is to prevent fraud, money laundering, and other illegal activities by ensuring businesses only deal with legitimate individuals. udemy.com Oracle Courses - Free Oracle Database Ad It involves collecting personal information such as identification documents, proof of address, and financial details to establish the authenticity of customers. While KYC enhances security, it has also become a target for fraudsters who attempt to exploit the process for illegal gain. Common scams include phishing attacks, fake calls, and websites designed to steal sensitive information. Explore various ways KYC fraud can occur and provide practical do’s and don’ts to protect yourself f...