Know Your Transaction (KYT)

Know Your Transaction (KYT) is a process used by financial institutions to monitor and analyze individual transactions for suspicious activity. It helps ensure that each transaction aligns with the customer's usual behavior and legitimate purposes. By doing so, KYT assists in preventing illegal activities such as money laundering, fraud, or terrorist financing. This ongoing oversight enables institutions to quickly identify and respond to any unusual or potentially harmful transactions, maintaining the security and integrity of the financial system.