Compliance requirements for identifying a client's profile and assessing their potential involvement in financial crimes
Compliance requirements are very complex and related, in addition to company itself, to different subjects with a specific role in business. They are connected to Your Customer (KYC) or Know Your Customer (KYS) processes and Financial Crimes, like Bribery, Corruption or Money Laundering.
KYC - KYS
It is critical to understand the capital structure and related shareholder composition in order to draw up the actual chain of command. Given that it increasingly required by some financial sectors and competing players, this kind of check is useful in any case where a business partner must be evaluated.
For regulatory purposes and in certain cases legal needs, a guarantee of quality, updating, and global presence as SkyMinder is given, is a real value added approach required by the market to understand chain of command, as well as for Due Diligence requirements. Thanks to Verification Report is possible to obtain critical information to understand ownership.
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Know Your Customer: manage risk and compliance effectively. Verify and properly assess business partners and their shareholders to make safe decisions and prevent fraud.
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Enhance Due Diligence processes thanks to in-depth information on companies and our monitoring plans. Check if a company and its capital structure are trustworthy and has the capabilities to become a business partner.
Financial Crimes, Anti Bribery and Corruption
Understand if a business partner is involved in financial crimes, Bribery, Corruption and Money Laundering actions represents a very important verification required from laws for specific industries. In any case, be involved in such kind of crimes, could represents also for all companies, despite industry, a negative impact on reputation with a consequence in term of economic results. Then, have a clear picture not only about the company itself but also on shareholders, linked companies could represent the good way to understand in advance potential risks and decide how to proceed.
Thanks to SkyMinder is possible to get information on Financial Crimes, Anti Bribery and Corruption requesting Extended Check Report and Compliance Report deciding respectively to integrate data to Credit Reports or simply standalone on all business subjects, both companies or persons all over the world with innovative solutions enable organizations to manage risks like identity theft, fraud, money laundering and terrorism.
