Clarifications from the 'Algerian Banks' on the 'Know Your Customer' System

'Housing Bank': Knowing the customer is an ongoing process, not a temporary one. 'National Bank' regularly updates files. 'CNAP Bank' generalizes verification procedures. Algerian banks continue to clarify the procedures of the 'Know Your Customer' system for their clients, after starting to audit the identities and files of customers and calling for the updating of personal and banking information. The process is no longer limited to collecting documents and completing files, but aims to ensure that banks have accurate and updated information about the customer's identity, personal and professional status, and the nature of their activity, which allows for enhancing the security of accounts and transactions and improving the quality of banking services. According to data received by 'Echorouk', several banking institutions have intensified awareness operations regarding this system.