Customer Due Diligence Checklist — 4 Steps to Improve Your CDD

By |2021-05-31T10:03:37+03:00May 31st, 2021|

Customer Due Diligence Checklist — 4 Steps to Improve Your CDD Financial institutions are entitled with applying due diligence procedures on their customers to make sure that they are not involved in any activities related to financial crimes. A legitimate and strong Customer Due Diligence (CDD) program is essential to protect the reputation of a [...]

Financial Cyber Crime: How the System is Failing the Victims

By |2021-05-21T14:35:51+03:00May 21st, 2021|

Financial Cyber Crime: How the System is Failing the Victims Financial Cyber Crime Having the Widest Coverage Among All Industries Cyber threats and attacks may differ in their purpose, method and impact; however, the most common ones are malware, hacking, phishing, data extortion and distributed denial of service (DDoS). The attackers’ ultimate aim is to [...]

Know Your Customer (KYC) Best Practices – Corruption, Crime & Compliance

By |2021-04-30T11:40:54+03:00April 30th, 2021|

Know Your Customer (KYC) Best Practices - Corruption, Crime & Compliance Know Your Customer (KYC) is a compulsory process for the banks and other financial institutions when opening a new account or on regular basis used for identification and verification of customer’s identity. If a customer fails in meeting the minimum KYC requirements, banks and [...]

Digital Onboarding and Anti Money Laundering (AML)

By |2021-03-30T14:13:31+03:00March 30th, 2021|

Digital Onboarding and Anti Money Laundering (AML) Digital Onboarding Technology for Financial Institutions Onboarding process plays a vital role in financial institutions’ customer acquisition and loyalty. Therefore, keeping it simple, fast and user-friendly is the key for success. The digitalization of the onboarding experience removed the physical limitations and the complicated processes for [...]

Customer Due Diligence (CDD)

By |2021-05-05T16:14:19+03:00February 16th, 2021|

Customer Due Diligence (CDD) What is Customer Due Diligence (CDD)?Customer Due Diligence (CDD) is a process which involves the collection and evaluation of the informations; such as full name, birth place, birth date or marital status, about the customers - or potential customers - in order to be used by the financial entities. It collects [...]

Digital Onboarding and AML Compliance

By |2021-05-05T16:28:00+03:00February 15th, 2021|

Digital Onboarding and AML Compliance All governments work with regulatory agencies to combat money laundering and financing of terrorism. Financial institutions must follow certain measures and regulations to prevent money laundering. It is very difficult for banks, FinTechs and other financial institutions to use traditional methods for customer with manual methods and according to these regulations. [...]

Know Your Customer (KYC)

By |2021-05-05T16:39:10+03:00February 14th, 2021|

Know Your Customer (KYC) What is Know Your Customer (KYC)?Know Your Customer (KYC) is a process by verifying the identities of customers. It should be applied before or during onboarding new customers. By implementing the Know Your Customer procedures, banks, FinTechs and other FIs aim to prevent risky situations and ensure compliance. By conducting Know [...]

Anti-Money Laundering (AML) Regulations

By |2021-05-18T23:12:17+03:00February 13th, 2021|

Anti-Money Laundering (AML) Regulations 1. Anti-Money Laundering (AML) DefinitionAnti-Money Laundering (AML) includes policies, laws, and regulations aimed at preventing financial crime. AML is a worldwide term for money-laundering prevention. There are global and local regulatory authorities established around the world to prevent financial crimes. Each country has a different AML policy, therefore banks and all [...]

Anti-Money Laundering (AML) & Counter-Terrorism Financing (CTF) Compliance

By |2021-05-18T23:30:19+03:00February 12th, 2021|

Anti-Money Laundering (AML) / Counter-Terrorism Financing (CTF) Compliance What is Anti Money Laundering Compliance?Anti-Money Laundering (AML) Compliance is a process that consists of the laws, regulations, and policies for identifying and preventing financial crimes. The clients are protected against any sanctions, PEPs (Politically Exposed People) lists, and global watch lists.What is the Counter-Terrorism Financing (CTF) [...]

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