In today’s world, risk management is possibly the biggest concern faced by the financial industry, and with financial crimes such as money laundering and terrorist financing constantly on the increase, financial institutions are under high and strict scrutiny by local and global authorities. Financial services providers are in fact recognised as subject persons required by law, to perform KYC/AML verifications on their clients.

Why do customer due diligence?

Subject persons such as corporate services providers, entities that manage their clients’ finances or/and act on behalf of their clients, are legally obliged to perform KYC/AML checks on their potential customers before onboarding them and throughout the duration of their relationship.  This is because clients of financial firms are the most common source of fraud and threat to the financial services industry. Often such criminals use stolen or fake identities to perform their crimes and this is why it is so important to perform KYC (Know Your Client) checks and AML (Anti Money Laundering) screening before enrolling a new client, and on a regular basis thereafter.

Every year, all around the world, millions of Euro of fines are imposed on financial institutions that fail to comply with this law. Make sure you’re not one of them by making use of our easy-to-use KYC and AML tools at StartKYC.

Our online KYC and AML screening tools help subject persons within the financial services industry to adhere to regulatory compliance needs. This is the only way to avoid penalties, manage risk and prevent reputation loss.

KYC & AML Solution

As a subject person you are legally obliged to perform a series of checks and screenings on your clients, and StartKYC provides the perfect, easy to use, fully automated tools, so that you can do all this in just a few clicks:

• Screen customers against international sanction lists, terrorist lists, high risk origins and PEPs (Politically Exposed People)
• Perform ongoing AML screening of customers
• Keep all records for AML purposes updated

StartKYC offers full system functionalities in all of its packages.  This means that every Financial Service entity, including sole practitioners, insurance companies, banks etc. gets access to all customer due diligence tools making it easier to fulfil your CDD obligations.  StartKYC also supports your automation process through a quick and easy API integration, which is backed up with ongoing technical support.

Feeling Lost?

Our free industry experts have drawn up a FREE PDF to help you get started in KYC for the legal industry. Click here to download PDF.