KYC Full Form is Know Your Customer. KYC is a term, which is normally used in the investment industry including banks. This is a standard form that reassures advisers all information about the investment knowledge, risk tolerance, and financial position of the customers. KYC can also be termed as Know Your Clients.
The purpose of KYC form is to protect investment advisers and clients. Making their adviser aware of what type of investment tjat suits them best, based on their financial situations, benefits customers. In simple terms, KYC helps businesses to verify client identities. It is often a process of bank regulations. It is also employed by companies of varied sizes to ensure anti-bribery compliance of their consultants, distributors, and agents.