StartKYC assesses Politically Exposed Persons (PEPs) using a structured framework based on international guidelines (e.g., FATF, UNCAC, EU AML Directives) and national legislation. The methodology categorizes PEPs into Global Minimum Coverage and National Requirement Coverage, ensuring compliance across jurisdictions. 1. Key PEP Definitions and Framework International References: StartKYC adopts authoritative PEP definitions from: FATF (Financial […]
Objection: “I’m not sure if I need AML/KYC services. My business is small and doesn’t handle a lot of financial transactions.” Response: “Even if your business is small, AML/KYC services can still be important for protecting your company and your customers. By verifying the identities of your customers and partners, you can help prevent fraud […]
Following the suspension of public access to the Register of Beneficial Owners (RBE) imposed by the judgment dated 22nd November 2022 by the Court of Justice of the European Union (CJEU), the involved and responsible parties (the Luxembourg Business Registers (LBR), the Ministry of Justice and the State Information Technology Centre) have finally found a […]
The Luxembourg Ministry of Justice has announced the temporary suspension of the online consultation of the RBE (Register of Beneficial Owners – UBO – in french “Registre des Bénéficiaires Effectifs“) after just a few hours from the ruling of the Court of Justice of the European Union (CJEU) on the illegality of the register. The […]