KYC

Why it matters

Banks, payment institutions and, in many jurisdictions, mobile network operators issuing SIM cards must apply KYC. Number resale occupies a legal space where this requirement does not universally apply. Control of a line, not identity, is what passing an SMS check proves; a phone number is never itself KYC.

Related terms

• No-KYC phone numberA phone line activated without submitting any identity document, legal name, address or payment card.

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