Workflow Templates: Know Your Customer (KYC) Checklist

Collect full legal name

Obtain date of birth

Gather residential address

Secure government-issued identification number

Verify nationality and residency status

Determine customer's risk level

Analyze customer's transaction patterns

Review customer's occupation and source of funds

Evaluate geographic risk factors

Check for any adverse media or sanctions lists

Authenticate identification documents

Verify proof of address documents

Ensure documents are current and not expired

Cross-check information with third-party databases

Keep copies of documents for records

Set up transaction monitoring systems

Conduct periodic reviews of customer profiles

Update customer information regularly

Monitor for significant changes in account activity

Report suspicious activities to regulatory authorities

Collect information on the purpose of the account

Understand the expected account activity

Identify beneficial owners if applicable

Assess the customer's financial history

Conduct enhanced due diligence for high-risk customers

Know Your Customer (KYC) Checklist