A Know Your Customer (KYC) investigation is a mandatory process in which a financial institution, such as RNHB in collaboration with Bridgeloan.nl, collects and assesses information to verify a customer’s identity and understand their business activities and financial background. The purpose of KYC is to mitigate risks, such as money laundering, fraud and terrorist financing, and to comply with legal obligations.
In practice, a KYC investigation involves the following:
- Identity verification: Checking personal and/or company details, such as passports, Chamber of Commerce registrations and ownership structures.
- Background investigation: Assessing the origin of financial resources and the purpose of the financing.
- Risk assessment: Analyzing whether there are risks that affect the business relationship, such as negative credit history or involvement in suspicious activities.
Within the context of Bridgeloan.nl, RNHB is responsible for conducting this investigation as part of the credit granting process. This ensures that