Know-your-transaction (KYT)

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What is

Know-your-transaction (KYT)


Know-your-transaction is a process that gathers information on transactions made by a financial business. It assesses the transaction are legal and not linked to financial crimes.

With KYT, financial institutions can gather information and assess the risk of the transactions executed by their customers. KYT is one of the components of anti-money laundering policies. It helps assess transactions risks and identify transactions related to financial crime such as money laundering and terrorism financing.

Scorechain's KYT reports provide a complete overview of cryptocurrency transactions with information on risk scoring or entities involved in the transaction.