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What is the Difference Between KYC and KYB?
Although closely similar, Know Your Business (KYB) should not be confused with Know Your Customer (KYC). Let’s look at the major differences.
KYC is a verification procedure that regulated institutions use to verify a customer’s identity for adequate risk management.
On the other hand, KYB is a verification process used by regulated institutions to verify another business’s legal standing, beneficial ownerships, AML compliance status and other regulations.
The major difference between KYC and KYB is the entity they deal with. KYC deals with individual customers, while KYB deals with businesses.
Form/Vorm J193 - Notice To Creditors In Deceased Estates
Form/Vorm J 187 = Liquidation And Distribution Accounts In Deceased Estates Lying For Inspection
Output Format - CSV - Comma Separated Values
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COE's - Certificate of Existence
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