When onboarding new corporate clients, verifying directors isn’t just about ticking boxes – it’s about safeguarding your business and building trust from the start. But let’s be honest, compliance processes can feel overwhelming. That’s why we’ve outlined a straightforward approach … Read More
KYB
Remote director verification for KYB: What compliance teams need to know
Director verification is crucial for Know Your Business (KYB) compliance. Remote verification tools improve accuracy, prevent fraud, and streamline the process, helping firms meet regulatory requirements and reduce financial crime risks. … Read More
Modern tools and strategies helping companies identify UBOs in complex corporate structures
Identifying Ultimate Beneficial Owners (UBOs) is challenging due to complex corporate structures. Modern tools like RegTech, global databases, and automated mapping help firms meet regulatory requirements and reduce financial crime risks. … Read More
Identifying Ultimate Beneficial Owners: Why is it so challenging?
Uncovering Ultimate Beneficial Owners (UBOs) is a crucial part of tackling financial crime, but it’s not without its challenges. At the heart of these challenges are complex corporate structures. Shell companies, trusts, and multiple layers of ownership can easily hide … Read More
The top 10 indicators of potential hidden ownership and how to address them
Hidden ownership structures pose compliance risks; identifying red flags like complex structures, false documents, and offshore ties ensures regulatory adherence. … Read More
Spotting red flags in UBO identification
Identifying true business owners is critical for AML compliance. Discover six key red flags that signal hidden UBOs, exposing tactics like complex structures or false reporting used to mask illicit activities. … Read More
Ultimate Beneficial Owners, ultimate consequences: 5 headline fines for non-compliance
Failing to identify Ultimate Beneficial Owners can be costly. Discover five real-world cases showcasing fines, reputational damage, and financial risks. … Read More
Complex corporate structures and why they cause challenges
Unravel the complexities of Ultimate Beneficial Owners (UBOs) with our infographic, exploring challenges in identifying true ownership amid layered structures, jurisdictional gaps, and hidden risks like PEPs or sanctions. … Read More
5 manual KYB processes that shouldn’t exist in 2024
Regulated businesses need to transition away from manual Know Your Business (KYB) processes, which are inefficient, error-prone, and risky in today’s tech-driven world. As regulations grow more complex and the need to manage risks increases, manual tasks such as document collection, beneficial owner verification, sanctions screening, risk assessment, and ongoing monitoring are becoming outdated. … Read More
How to proactively manage risk in investment firms with automated KYB
Investment management firms face significant AML compliance challenges due to diverse products, complex client profiles, and varying regulations across jurisdictions. Automated Know Your Business (KYB) solutions streamline risk management by generating accurate onboarding risk scores, creating tailored risk profiles, and providing real-time alerts for proactive monitoring. … Read More