Journal ArticleOpen Access
A systematic literature review of blockchain-based e-KYC systems
Author Affiliations
Khulna University of Engineering and Technology, Shahjalal University of Science and Technology, BRAC University, La Trobe University, ...
Published InComputing
Year2023
Citations35
Abstract
The know your customer (KYC) guidelines in financial services require that institutions make an effort to verify the identity, suitability, and assess risks involved while maintaining a business relationship. The procedures fit within the broader scope of any financial institution’s Anti-Money Laundering (AML) policy. Governments around the world have digitalised this process to make it more convenient and transparent by introducing the notion of e-KYC (Electronic KYC). e-KYC provides a flexibility for the users as they might even quickly complete the on-boarding process from the comfort of their homes. However, there are a few outstanding issues, such as the lack of any global standardisation, possible fraudulent activities during the e-KYC process and other privacy concerns, that must be addressed before…
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