Blockchain Technologies and Cryptocurrencies – A threat or opportunity for Anti-Money Laundering and Funding of Terrorism
Should I do business with a PEP?
In recent years the growth within the blockchain / cryptocurrency industry has been phenomenal. Following the hike in the value of cryptocurrencies that happened in 2017 we have been seeing new blockchain businesses sprouting like mushrooms all over the globe. According to Forbes, the global blockchain market is anticipated to grow to over USD60 billion […]
AML Monitoring Solutions
8 tips for PEP dealings I am at a client meeting explaining how StartKYC can increase the efficiency of the customer due diligence process. I reach the PEP (Politically Exposed Person) topic and the client stops me midway to ask a question which seems to have been nagging him for a long time “Can I […]
StartKYC – Your Partner in the Customer Due Diligence Process
Why is monitoring important? Simply put, it’s the Law. The Anti Money Laundering and Prevention of Funding of Terrorism Regulations require that subject persons monitor customers and involved parties against Politically Exposed Persons (PEPs) lists and sanctioned lists for potential political exposure and sanctioned status. When are we obliged to monitor? If it is an […]
You spend more time on paper work and searches to comply with the AML regulations rather than business generation. Adhering to the Financial Intelligence Analysis Unit (FIAU) implementing procedures is becoming a nightmare. Investing in compliance software is too costly. These concerns are what triggered the creation of StartKYC – an online system, as […]