KYC (Know Your Customer) refers to the process businesses use to verify the identity of their clients. This is a fundamental practice in industries like banking, finance, and cryptocurrency to prevent money laundering, fraud, and other illicit activities. KYC procedures typically involve collecting and validating personal information such as identification documents, proof of address, and, in some cases, financial background. By ensuring that customers are who they claim to be, organizations can comply with regulatory requirements and reduce the risk of financial crimes. KYC is an essential part of modern cybersecurity and compliance frameworks.