Refers to the information that the local regulator requires financial service providers (FSPs) to collect about any potential new customer in order to discourage financial products being used for money launderingThe operation of attempting to disguise a set of fraudulently or criminally obtained funds as legal, in operations undeclared to tax authorities, and therefore not subjected to taxation. Money laundering activities are strongly pursued by authorities and in most countries, there are strict rules for credit institutions to cooperate in the fight against money laundering operations, to declare and report any transactions that could be considered suspicious. More or other crimes. Some countries allow FSPs greater flexibility than others as to the source of this information.