• Legal

KYC rules

You can read them on this page https://trueflip.io/kyc-policy in the Registration, KYC and account section.

What is KYC?

KYC (Know Your Customer) is a term used in bank and trade regulation for financial institutions and bookmakers as well as for other companies that work with private resources. This term means that banks and financial institutions have to identify the counterparty before carrying out a financial transaction. This procedure is needed to secure the client work process. KYC helps clients to avoid fraud. The system allows regulators to more easily identify possible cases of fraud or a scam and it indicates the risks when working with a particular client. This is applied for both crypto and fiat.

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