Enhanced Due Diligence

KYC due diligence

Get detailed information and comprehensive insights to help regulated entities like yours pinpoint potential customer risk and comply with your Know Your Customer (KYC) mandatory requirements.

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Penalties for KYC and AML failures can be steep, fines for sanction breaches alone can run into the billions of dollars.

Regulations do differ from jurisdiction to jurisdiction, nonetheless financial institutions and regulated industries are required to demonstrate that they have a robust compliance programme in place to conform with international and national legislative requirements around KYC in order to combat money-laundering, countering the financing or terrorism and other associated financial crime.

Regulations have been driven by organisations such as Financials Action Task Force (FATF) Recommendations, Wolfsberg guidance and include:

Hundreds of sanctions regimes, such as:

The US Office of Foreign Asset Control (OFAC), UN, DFAT, UKHMT, EU, CANs.

AML and CFT legislation, including but not limited to:

Bank Secrecy Act,
USA PATRIOT Act,
EU AML Directives
US AML Act 2020,
Australian AML/CFT Act 2006 -Amendment Bill 2017
Commonwealth Criminal Code Act,
Hong Kong Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO),
MAS Act AML/CFT Notices.

Know Your Customer (KYC) is the mandatory requirement for financial institutions and regulated industry to identify and verify a clients identity when opening an account and at periodic intervals in order to comply with anti-money laundering and countering the financing of terrorism legislation.

By employing a risk-based approach to KYC, the level of risk for each client needs to be ascertained in line with the regulations and your own in-house policies. Those who could pose a higher risk require more scrutiny. To enable this you need KYC due diligence to provide quality relevant information and insight into the potential risks that you could be exposed to through your client.

We have been delivering quality due diligence reports for nearly two decades. Compiled by a team of professionals with country and industry knowledge holding qualifications across different disciplines ranging from law and taxation to business administration and international relations.

Whether further or enhanced due diligence is required on a company or an individual, for establishing the ultimate beneficial ownership (UBO) of a company, or, for the source of wealth of an individual - we have a report to suit your needs and at the level of complexity you require.

Quality data with global coverage

Access to a wide range of open and paid primary data important to your KYC programmes, obtained from official sources in over 200 jurisdictions and in 60 languages.

Relevant information easily understood

Insightful data, and analysis, incorporating local knowledge applicable to the industry and countries where you do business, presented in an easy to absorb format.