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Know Your Customer (KYC)

Know Your Customer (KYC)

A legal requirement for financial firms to understand exactly who their customers are. Used to prevent money laundering and terrorist financing.

A legal requirement for financial firms to understand exactly who their customers are. Used to prevent money laundering and terrorist financing.

More terms

Over-The-Counter (OTC)

A security that is sold outside of an exchange.

Bed & ISA

Understand what Bed and ISA is and how it works

Custodian bank

Learn what a custodian bank is.

Annualised Rate of Return

The average annual return an investor sees over a set period of time.

Stock Market

A place where shares of publicly listed companies are traded.

Money laundering

A method of moving money obtained illicitly through the financial system so it can be used legally.

Depository

We look at what is a depository and what role they play in keeping markets work.

Ponzi Scheme

A form of fraud designed to lure new investors, and pays the earlier backers by using the new investors' money.

Investment Trust

A company that pools money together from multiple investors and then invests it.

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