Tips for Finance Companies: Verifying client identification, tracing the true recipient of the funds, and understanding the intended purpose of those funds.

HomeTips for Finance Companies: Verifying client identification, tracing the true recipient of the funds, and understanding the intended purpose of those funds.
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Tips for Finance Companies: Verifying client identification, tracing the true recipient of the funds, and understanding the intended purpose of those funds.

  • Activating Know Your Customer (KYC) procedures and enforcing all necessary measures to prevent money laundering and terrorist financing.
  • Fulfilling all mandatory information on the application forms
  • Verifying that the client  isn’t on any sanctions or terrorist entity lists
  • Verifying and identifying  the Ultimate Beneficial Owners (UBOs)
  • Verifying the intended purpose of the funds and confirming it’s alignment with approved and licensed activities.
Last modified: May 16, 2024

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