AML: Compliance Managed Service and Complete Outsourcing/Resourcing – KYC/B & CDD

AML CDD OUTSOURCING

CUSTOMER DUE DILIGENCE

Know Your Customer/Business (KYC/B) procedures are a critical function to assess and monitor client risk and a legal requirement to comply with the Anti-Money Laundering and Anti-Terrorist Financing and Transfer of Funds legislation.

KYC/B forms the cornerstone of the anti-money laundering regimes globally, requiring regulated firms to demonstrate a clear understanding of their customers and their counterparties. KYC requires you establish customer’s identity, understand the nature of their activities and assess the money laundering risks associated with such a customer.

Firms must ensure processes are in place to protect themselves and those dealing with them from financial crime risks, especially money laundering. The relevant legislation in UK is based on UK’s commitment to tackle economic crime. The UK’s Economic Crime Response Framework is a collaborative effort made up of several pieces of legislation intended to ensure the market for financial services is safe, clean and trusted, with robust systems and controls in place to stymie financial crime.

OUR KYC/B & AML OUTSOURCED SERVICE

At Complyport, we offer a complete KYC/B Compliance Managed outsourcing service to support customer onboarding processes. Our experienced team can provide assistance with ongoing maintenance / refresh reviews, KYC/B CDD activity and remediation efforts as part of your company’s Anti-Money Laundering compliance (AML) program.

Complyport’s Financial Crime & Forensics team offers a full range of services as part of our AML: KYC/B Compliance Managed Service Solution. This includes the following:

Skilled KYC/B resources – UK & EU based resources to undertake customer onboarding and ongoing maintenance of customer data
Consulting – advisory support team to assist Head of Compliance & MLRO’s risk-based approach to Customer Onboarding, Customer Due Diligence & AML Compliance.
Outreach – client outreach to gather required KYC/B related data and documents
Health Checks – AML/CDD Policy reviews and Assurance programmes
Policy Updating – amendment, or creation of policies and procedures
Process review – streamline processes, sense checks and review of procedures
Training – bespoke training programmes and eLearning solutions for management / staff
Project Management – to ensure efficiency and top calibre delivery which is scalable and on time and on budget

Benefits:

Outsourcing repetitive and not profitable manual processes, allowing you to focus on higher-value activities
Reduce the time and resources to onboard customers and improve time to revenue
Robust, trusted process built and monitored by experts in KYC/CDD/EDD
Flexibility to adjust the size of the team to match your needs as you grow and evolve
Decrease KYC/B money laundering risks by reducing errors in the customer onboarding / refresh process with a dedicated team focused on quality and timely delivery of service
Managing 3^rd Party Risk

The outsourcing of AML KYC/B solutions is a cost-effective and efficient way of managing AML Compliance. Complyport will help you to maintain control over their KYC operations and regulatory obligations with full transparency, thereby ensuring the Money Laundering Reporting Officer (MLRO) and the firm comply with AML/CFT regulatory requirements.

Services Include:

Customer Due Diligence (CDD) and Enhanced Due Diligence
Know Your Customer/Business (KYC/B)
Beneficial Owners Statement and Declaration
Online Identity Verification
AML Checks, Risk Analysis and Assessment
Screening for Politically Exposed Persons (PEPs), Sanctioned firms & Individuals & Adverse Media related to Financial Crime and Financing Terrorism
Verification of Customer Identification
Verification of Beneficial Owners
Verification of Directors
Verification of Customer Transactions
Record-keeping
Compliance Reporting and Notifications
MLRO Resourcing

Contact us for assistance

Please fill our free consultation form and a member of our team will get in contact with you.

AML CDD OUTSOURCING

AML CDD OUTSOURCING

CUSTOMER DUE DILIGENCE

OUR KYC/B & AML OUTSOURCED SERVICE

Benefits:

Services Include:

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Complyport (UK)

Complyport (UAE)

Complyport (EU)