Increasingly robust Anti-Money Laundering (AML) regulation and enforcement mean that financial institutions must demonstrate a transparent and scalable AML process. In addition, AML laws require the use of ”accurate and current” information for the validation and verification of customers, counterparties and prospects.
Kyckr’s range of solutions are designed to help your business in AML compliance through primary source information and automation.
Criminals hide the proceeds of crime in plain sight, disguising illicit funds within the vast network of daily and global transactions. Criminals use a multitude of tools, including shell companies, trusts, other legal arrangements, nominees, and professional intermediaries, to conceal the true intent of their activities and beneficial ownership associated with them.
The Financial Action Task Force (FATF), European Union (EU), United States US and Australian AML/CTF regimes require supervised and obliged financial institutions to have systems and controls, including measures for countering risk of the source, destination or conduit for the proceeds of crime. Kyckr's unique approach easily integrates within existing KYC and CRM processes, enabling improved and accelerated customer onboarding for your AML processes.
Kyckr's technology provides global corporate intelligence on customers, non-customers and counterparties with access to over 200 company registries. 120 countries and over 170 million legal entities. We've made accessing current and accurate information simple for regulated firms.
Financial institutions face strict risk controls, requiring to demonstrate comprehensive risk-based KYC and AML process. In a world where transactions are instantaneous, a manual process fails to keep up to date with constant changes in your customer risk. Automated event detection through Kyckr Perpetual KYC helps you stay informed of changes and can support your risk model to reduce false positives by flagging risks immediately.
Invest in the approach that allows you to futureproof your AML processes. Through Kyckr technology, improve the effectiveness of your AML compliance by removing manual tasks, reducing errors and allowing a 'primary source only' approach to lead the way to industry best practice.
Discover our automated solutions that help your business with compliance and risk management.
To see how Kyckr can help with your requirements, get in touch for more information or to schedule a product demonstration.