KYC (Know your customer) means that the Company (Epassi) must have good knowledge of its customers and their business in order to make it difficult and prevent the business from being used for money laundering or terrorist financing.
Read more about customer awareness on the Finansinspektionen's website: https://www.fi.se/sv/bank/penningtvatt/process/kundkannedom/
Why do we carry out a customer survey?
The Act on measures against money laundering and financing of terrorism (2017:630) obliges Epassi as a payment service provider to ensure that we know our customers, service providers and their operations. In order to prevent payment services from being used for money laundering and terrorist financing, there are laws and regulations that we have to comply with that apply basically all over the world. We must also regularly check this information.
We do this by sending out a form with questions to our existing suppliers. We have our partner Clento to help us.