What is the meaning of KYC and KYCC in terms of anti money laundering?

KYC is Know your Customer whereas KYCC stands for Know your Customer's Customer.

kyc stands for know your customer while kycc stands for know your customer's correspondent 

Know Your Customer

Know Your Customer's Customer

KYC stands for Know your customer. The term mainly is used in financial institutions for understanding their customers.  It is a basic requirement from the financial institution while establishing relationship with a customer.  It is mandated in most of the countries by the regulators.

KYCC is Know your customers customer.  This is part of enhanced due diligence, to understand our customer's customer.  To understand whether our customer is dealing with any sanctioned entities or countries?

KYC used mostly in financial institutions means Know Your customer, which is the act of identifying the customer by their addresses and what they do and the source of income.

KYCC means Know Your Customer's Customer which is identifying the customer in more detail by identifying his customers and activities to ascertain his source of income and ensure he is not involved in money laundering and terrorist financing crimes.

Know your customer is usually referred as KYC is the financial industry, it verifies the identity of the person you are doing business with. It allows institutions to ensure that their clients are not involved in money-related crimes. 

KYCC is to know your customer counterparty. KYC and KYCC are effective defences against laundering money or terrorist financing.

KYC means know your customer and it help in banking business to know the customer through business personally

KYC means Know your customer, is the process of a business identifying and verifying the identity of its clients. The term is also used to refer to the bank regulation which governs these activities.

KYCC refers to understanding deeper about the customers, i.e., more granular level of detailing of the customer. To know who the customers are dealing their business with and to know their source and funds and its legitimacy. 

Know your customer's customer

KYC refers to establishing the identity of the customer and to understand their source of funds, in order to monitor the money laundering risks associated with the customer for the purpose of monitoring

KYCC refers to understanding deeper about the customers, i.e., more granular level of detailing of the customer. To know who the customers are dealing their business with and to know their source and funds and its legitimacy. 

KYC means that Known your customer,it is very important in this scenario for all financial transactions, and its helps us to make the clear profile about the customer who is conducting the transactions with them.