Why you need KYC/AML for your ICO?
What Is KYC/AML?

Know your customer ('KYC') is the process of a business recognize and confirming the identity of its clients. The condition is also used to find the bank and anti-money laundering laws which rule these activities.
Anti-money laundering (AML) software is a cast of a computer program employ by financial institutions to examine customer data and catch up wary transactions.
Know Your Customer / Anti-Money Laundering is a due hard work procedure along which a corporation can confirm the identity of its customers, making sure that the money they want to transfer was received lawfully and that the customer is not a part of an authorized list, a fraudulent, a fanatic, or an unethical organisation.

KYC Steps
Once you register on the website, enter your Ethereum wallet details and the amount you want to contribute. After that, you’ll come to the first step of KYC, which is to verify your identity. There are various documents you can use, like a nationally recognized passport, your identity card, or driver’s license. The next step is to verify your residency. Again, you have multiple options. You can use a utility bill. You can use a bank statement. You can also use some sort of official government letter that shows your address.

KYC Push
We realize not everyone is happy about KYC and some people don’t take on with it ideologically, mostly when it comes to cryptocurrencies, where transfers are unknown, or at least pseudo-anonymous. However, for the company to be a lawful coworker to public bodies and large companies — or even just to our bank — we need to be sure that the sources of all funds raised in the company token sale are authorized. No funds can come from criminal sources, people under penalty, or organizations with terroristic links.
What are the benefits of KYC?
There are many advantages to using Blockchain technology for KYC and AML.
The first is that a general KYC and AML Blockchain registry could be generated which could be used by many separate banks and financial institutions. This could quicken the onboarding working and dramatically reduce the costs of KYC compliance. Every time that a bank is signing up a new customer, a bank employee could be given a password to access the customer’s KYC information except having to walk the customer through all of this information every single time.
Another key profit is that a KYC and AML registry could be generated for intra-bank use. This means that when customers are using different services provided by the bank, that the bank could depend on the Blockchain registry to fulfil the KYC and AML compliance without dealing with all of the recognizations over and over again every time the customer wishes to utilize a recently developed service or purchase a new banking product. This could radically acceleration and reduce costs for KYC and AML compliance, which would be highly beneficial for banks.