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 […]
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 […]