Banks need to know which countries are deemed to be at risk, which countries have weak levels of compliance. Sharing intelligence within your organisation is critical; often your cyber team will know information that is incredibly valuable to your fraud team, or vice versa. Good practice when it comes to housekeeping, staff management and high-level Know Your Customer (KYC) will mean banks are far more likely to be able to detect when something’s not right and act to limit the damage caused to their customers and their bottom line.”]
Source: https://www.inforisktoday.com/blogs/dont-forget-basics-kye-means-kyc-p-2829