As stricter, more complex, requirements in relation to anti-money laundering are implemented in the EU, distributed ledger technology (“DLT”) might offer an answer to streamlining know your client (“KYC”) processes and reducing the frustration around data sharing. In this article,
Ami Amin and
John Binns discuss what DLT is, what the current issues with KYC are and how blockchain technology (a type of DLT) could offer a solution to the issues presented by traditional KYC processes.