Customer Due Diligence with Siron® KYC

Efficiently fulfill customer due diligence requirements for financial institutions

Thorough Know Your Customer (KYC) procedures during customer acceptance are crucial for the fight against financial and white-collar crime. They are the first hurdle for criminals to overcome to misuse the services of financial institutions for criminal intents. In order to fight money laundering, the financing of terrorism and other criminal acts, international regulations such as the USA Patriot Act, the Bank Secrecy Act or the 4th EU Money Laundering Directive require banks, insurance companies and other obliged entities to implement KYC programs and conduct enhanced due diligence on high-risk clients. Recording a person’s particulars, identifying politically exposed persons (PEPs) and beneficial owners or querying customer information (e.g., reasons for the opening of an account or the concluding of an insurance policy) are only some of the duties stipulated by these guidelines. 

View this Resource

Please enter your information to unlock our asset library. Thank you!