In today's rapidly evolving business landscape, compliance and Know Your Customer (KYC) regulations are paramount for maintaining a strong and reputable organization. Here's why:
Key Statistics:
| Statistic | Source |
|---|---|
| Non-compliance costs businesses $15 million annually | Forbes |
| 90% of businesses incur fines for non-compliance | Accenture |
Key Statistics:
| Statistic | Source |
|---|---|
| KYC failures cost businesses $10 billion annually | World Economic Forum |
| 50% of businesses are not fully compliant with KYC regulations | PwC |
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