FOLIO Ontology

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Identification

IRI:
https://folio.openlegalstandard.org/R1wxP2NvGjKYJVwIFkJgFa
Label Know Your Customer Violation Claim
Preferred Label KYC Claim
Identifier N/A
Alternative Labels
KYC Compliance Violation Claim

Definition

A Know Your Customer (KYC) Violation Claim arises when a financial institution or business fails to comply with regulations requiring them to verify the identity of their clients and assess potential risks of illegal intentions for the business relationship. This claim involves allegations of inadequate customer due diligence, failure to maintain proper records, or lack of ongoing monitoring.

Class Relationships

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See Also

Parent Class Of 0

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Additional Information

Metadata

Comment

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Description

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Notes

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Editorial Information

History Note

None

Editorial Note

None

Deprecated

No

Source and Origin

No source or origin information available