Implementing KYB (Know Your Business) technology can have a significant impact on the application volume of lending firms. By leveraging KYB technology, lenders can streamline their onboarding process and make it more efficient, resulting in a higher number of applications. … Read More
KYB Checks
7 essential elements of KYB checks
KYB checks are essential for AML compliance within regulated firms in the UK, serving as a cornerstone for maintaining trust in the financial services industry. These checks involve verifying the identity and legitimacy of business entities before entering into commercial relationships, which is crucial for mitigating risks associated with money laundering, terrorist financing, and other financial crimes. … Read More
How automated KYB checks can help mitigate risk in your business
Customers are not only individuals, but businesses too. Anti-money laundering regulations instruct organisations to monitor and protect against suspicious activity. The main focus of the checks undertaken is to establish the identity and ownership of the company being dealt with, … Read More
The importance of KYB checks: best practices for compliance
As financial crime threats evolve, so does the importance of conducting Know Your Business (KYB) checks. In today’s business landscape, regulatory bodies expect compliance officers to conduct a comprehensive KYB check for each company they onboard to ensure compliance with … Read More
What is a shell company?
Shell companies are legal entities used for legitimate purposes or illicit activities like money laundering and tax evasion. They obscure ownership, making it challenging for compliance professionals to ensure AML regulations are met. … Read More
Top Compliance Trends You Need to Know for 2019
Money-laundering and compliance failures within large banks and institutions dominated the financial news in 2018. To help you not fall foul of the regulations in 2019, we have gathered a list of top 9 compliance trends this year and how they may impact how you do business. … Read More