Identity Verification
/aɪˈdɛntɪti vɛrɪfɪˈkeɪʃən/
Definitions
- (n.) The process of confirming the truth of an individual's claimed identity to prevent fraud or unauthorized access.
The bank requires identity verification before allowing account access.
- (n.) A legal procedure to establish the identity of a person in transactions, ensuring compliance with regulatory obligations such as anti-money laundering laws.
Identity verification is mandatory under KYC regulations to prevent financial crimes.
Forms
- identity verifications
Related terms
See also
Commentary
In legal drafting, specify the method and standards of identity verification relevant to jurisdiction and regulatory context to ensure clarity and compliance.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.