KYC is the process of confirming that a customer is who they claim to be, usually by checking a government-issued photo ID and sometimes a proof of address or a live selfie for comparison against the ID. AML refers to the broader set of controls, including KYC, that financial services are required to run to detect and prevent money laundering and related financial crime.
Documents typically requested include a passport or national ID, occasionally a driver's license, and sometimes a recent utility bill or bank statement to confirm an address. Exactly which documents are needed depends on the country and the service, and the process is generally handled through an app or web upload rather than in person.
The identity check itself is usually one-time: once a customer is verified, they do not repeat the full process for every transaction. What continues afterward is ongoing monitoring, automated checks on transaction patterns and account activity that can trigger a request for additional information if something falls outside the normal pattern, rather than a routine repeat of the original verification.
A freelancer working with PANORAMA payments passes KYC once during registration, after which the same verified profile is used for future invoices rather than being redone each time. See how you get paid for where this step sits in the overall flow, from registration to payout.
Do I have to redo verification for every payment?
No. Identity verification is generally a one-time step done at signup. What continues after that is automated monitoring of account activity, not a repeat of the original document check, unless something specific triggers a request for updated information.
What documents are usually needed for KYC?
Most services ask for a government-issued photo ID, such as a passport or national ID, and sometimes a proof of address like a recent utility bill. Exact requirements vary by country and by the service doing the check.
Why do payment services need to do this at all?
Financial services are generally required by regulation to confirm who their customers are and to screen for money-laundering and fraud risk. It is a standard part of operating a regulated payment or banking service, not something specific to any one customer.