KYC (Know Your Customer)
terms
Pronunciation: kay-wye-see
Definition
Identity verification process required by regulated operators.
Detailed Explanation
KYC involves verifying a player's identity and address using documents (IDs, utility bills) to prevent fraud, money laundering, and underage gambling. It may be required before deposits or withdrawals.
Usage Example
"The site requested KYC documents before processing the first cashout."
Philippine Context
PAGCOR-licensed platforms enforce KYC/AML policies; compliance helps protect consumers and the financial system.
