What is KYC / KYB and why it is required?

KYC (Know Your Customer)  / KYB (Know Your Business) must be successfully completed before Interest or Commissions from Debentures is available for withdrawal or Compounding or transfer to another wallet? Until the KYC / KYB is completed the Interest and Commissions will be displayed as 'Pending'. KYC / KYB is a requirement under the Anti-money laundering laws (AML) to ensure we pay to real people.