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Cover of Working Paper 522
December 17, 2019

Identifying and Verifying Customers: When are KYC Requirements Likely to Become Constraints on Financial Inclusion?

Onerous KYC documentation requirements are widely recognized as a potential constraint to full financial inclusion. However, it is sometimes difficult to judge the extent to which this constraint is a serious or binding one, relative to others. The paper considers this question, distinguishing between different types of documentation and different financial market segments according to their KYC requirements.