KYB/AML

KYB and KYC checks are vital for AML compliance, ensuring safety through verifying identities, reporting suspicious activities, and maintaining detailed financial records. Discover the distinctions between both processes and learn the essential steps helping businesses prevent financial crime.

Check hands-on walkthrough on configuring custom rules to streamline your AML compliance processes while onboarding new companies.

Any entity falling under Anti-Money Laundering and Anti-Terrorist Financing regulations must know the exact identity of the Ultimate Beneficial Owner (UBO) for all their business transactions. While this isn’t a new regulatory requirement, many organizations struggle to identify UBOs due to various challenges, including complex corporate structures or intentional efforts to hide the UBO status for the sake of financial crime, such as money laundering. Read more.

KYC, AML, CDD… Similar but very different compliance terms that people tend to confuse. While regulations vary across countries and different areas, nowadays, not only financial institutions but many other businesses need to know the differences between the mentioned components to maintain effective Anti-Money Laundering programs.

Since 2002, more than 38 institutions in USA have reached settlements or pled guilty due to non-compliance with AML regulatory requirements and paid substantial fines in settlements.

How exactly does the proof of address process look like? Our step-by-step guide will answer all questions related to Address Verification.

Over the past decade, the EU has been considering how to combat the potential illicit flows through banks and other financial institutions. It’s clear that stricter financial processes call for a more robust action plan from all financial players. This time, we’ll review the EU and its standards by providing all the necessary guidelines.

Learn what Know Your Business, or KYB verification, is, focusing on the main compliance challenges in regulated, high-risk industries while learning about key automation solutions.

Are you wondering what tools and methods can detect and prevent vicious crimes, such as illegal earnings and money laundering? Will it be Customers’ AML Screening and Ongoing Monitoring? Keep reading to find out.

KYB, or Know Your Business verification, is crucial for onboarding and monitoring corporate clients. Learn how to onboard your partners, identify the individuals controlling the organization and help prevent money laundering.

On 19 April 2018, the European Parliament adopted the 5th Anti‑Money Laundering Directive. Read more.

We discuss what exactly anti-money laundering (AML) is, which industries are affected by it, and what businesses should do to ensure proper AML compliance.