Tag: Beneficial Ownership

Enhanced Due Diligence (EDD) represents an advanced level of scrutiny, serving as a crucial component beyond basic KYC checks.

In the realm of financial crime investigation, government officials are inundated with a vast amount of data that demands meticulous scrutiny.

As of July 2024, credit and financial institutions within the EU are mandated to adhere to stringent reporting requirements for transactions associated with Russian ownership, as detailed by the European Commission.

Financial institutions and regulated entities across Malaysia are gearing up for the nation’s fifth mutual evaluation by the FATF, scheduled for 2025.

In the rapidly evolving financial landscape, the sophistication of money laundering schemes has reached new heights.

Traditional Know Your Business (KYB) methods, while foundational, often fall short due to their reliance on static, point-in-time data.

In a stride towards combating financial crimes, the US introduced the CTA, designed to peel back the layers of secrecy often associated with business entities.

At the heart of financial transformations, CDI has emerged as an essential tool for banks to authenticate corporate entities efficiently and securely.

As 2024 progresses, regulators worldwide find themselves increasingly busy, grappling with the dual challenges of an ever-changing geopolitical landscape and the rapid evolution of technology.

Know Your Business (KYB) is a crucial process for verifying business entities during the onboarding phase, aimed at understanding risk factors, financial health, creditworthiness, and beneficial ownership.