June 26, 2018

This recent article proves again how important it is for any financial institution to comply with regulations. Every institution needs to do everything reasonably possible to ensure that for every client file all the details are correct, complete and up to date, whether it is UBO or PEP identification and verification, definition of source of funds and wealth or documentation and understanding a client’s transaction flows.

To get it right it is of crucial importance that the institution understands the operational FEC risks that the firm is running and knows where issues might arise. When an internal, external or regulatory audit is performed it is too late.

To address this i-KYC, provides risk assessments, advisory, training and interim management in Financial & Economic Crime prevention across the globe.

Our signature programs – amongst others “Trade Based Money Laundering” – are meant to increase the knowledge, background and awareness and at the same time detect risks in the operational organization.

These programs are available as

  • A keynote address
  • A 1-day workshop
  • A customized programme, tailor-made for your organization.

So even if an FI is not completely sure of any issues, having staff engaged in a knowledge based discussion facilitated by one of our experts raises awareness, increases knowledge and often triggers further discussion and the implementation of risk mitigating measures.

More information can be found here and of course you can contact us directly to discuss what we can do for your organization.