Antwerp boosts AML with new KYCP RegTech tool

November 26, 2025

The Antwerp World Diamond Centre (AWDC) has rolled out an industry-wide platform built on RegTech principles, offering diamantaires a faster and more accurate way to execute mandatory Anti-Money Laundering (AML) and Know Your Customer (KYC) checks.

The initiative represents the first collective compliance solution deployed at scale within a Belgian industry.

Known as KYCP (Know Your Customer Portal), the tool automates client due diligence and transaction monitoring, helping firms quickly detect suspicious behaviour, verify ultimate beneficial owners and screen sanctions lists. It also generates alerts when potential risks emerge. The platform is being made available without charge to all 1,470 Antwerp diamond companies represented by AWDC, supported by a development investment of €250,000.

Explaining the tool’s impact, AWDC head of compliance Trisevgeni Stavropoulos said, “With this tool, the Antwerp diamond sector is at the forefront of non-financial institutions when it comes to compliance and transparency.

“Diamantaires carry a great responsibility: they must identify their clients for every transaction above €10,000, report suspicious behaviour, and regularly conduct risk assessments. For many diamantaires — often small, family-run businesses — the administrative burden is considerable. Thanks to KYCP, they can now perform client screenings more efficiently, more quickly, and with a very small margin of error.”

The platform was configured in partnership with KYC Portal, an IT consultancy specialising in client lifecycle management technology. Its bespoke work ensured the tool met the unique requirements of the diamond trade, including complex ownership structures and the high-risk nature of international transactions.

KYC Portal CEO Kristoff Zammit Ciantar said, “For a sector federation to take such a bold decision and move into offering such a collective digital compliance solution to the entire market is quite an impressive statement.

“I believe this makes AWDC one of the frontrunners to combatting fraud and money laundering within the diamond industry globally. We were quite excited to work on this project when we were selected to help AWDC configure launching such a central service, even more so now that we are seeing their traders setting up access and using KYCP globally.”