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Why do I need to complete KYC?KYC is necessary for both the client and the company in which the investment is being made. This safeguard protects both Krypti and you from claims that funds are not legitimate during the opening and maintaining of the account. KYC laws were introduced in 2001 as part of the Patriot Act, which was passed after 9/11 to provide a variety of means to deter terrorist behavior. Moreover, Title III of the Patriot Act requires that investment companies deliver on two requirements to comply with the stricter KYC: Customer Identification Program (CIP) and Customer Due Diligence (CDD). These laws were introduced to protect the parties involved from fraud.