Know your client, or "KYC", is a mandated process for banks, but it is also a crucial component for crypto trading if exchanges wish to mitigate risks.

Crypto fraud is a growing concern among financial institutions. Identity verification is key to fighting fraud, because it removes fraudsters' anonymity.

KYC is a key part of fighting fraud, especially in high-risk industries. Here's how crypto exchanges use automated KYC verification to reduce chargeback rates.