3. Why KYC verification mandatory on KoinBX?

Created by Arjun Rituraj, Modified on Mon, 18 Dec, 2023 at 5:00 PM by Arjun Rituraj

In 2002, the Reserve Bank of India (RBI) enacted KYC regulations. Money laundering, fraud, and terrorist financing are all examples of unethical actions that have led to the creation of such rules. Banks and other financial institutions are frequently used to carry out such actions.



KYC plays a critical role in safeguarding financial systems and ensuring that businesses can operate with confidence, knowing the true identities of their customers. By adhering to KYC requirements and effectively conducting KYC verification, KoinBX can combat financial crimes, protect its customers, and contribute to a safer and more secure financial environment.

Was this article helpful?

That’s Great!

Thank you for your feedback

Sorry! We couldn't be helpful

Thank you for your feedback

Let us know how can we improve this article!

Select at least one of the reasons
CAPTCHA verification is required.

Feedback sent

We appreciate your effort and will try to fix the article