Identity & compliance
Understand business identity before making an onboarding decision. These pages distinguish KYB, KYC and customer due diligence, so each question has a clear owner in the workflow.
18 of 50 topics shown
- Business identity & verificationKnow Your Business (KYB)Know Your Business is the process of establishing the identity of a business, understanding who owns or controls it, and assessing whether a relationship presents unacceptable risk. A useful KYB record connects a legal entity to its registration evidence, ownership information and the decision made about it. Finding a company name is only the beginning: the record must belong to the business you intend to onboard.
- Business identity & verificationKnow Your Customer (KYC)Know Your Customer is the process of understanding who a customer is, why they are using a service and what risks the relationship creates. In a business relationship, that understanding can involve both a legal entity and the individuals acting for, owning or controlling it. Identity evidence is an input to the assessment, not a substitute for understanding the relationship.
- Business identity & verificationBusiness VerificationBusiness verification checks that an organisation corresponds to an identifiable legal entity and that its submitted information is supported by appropriate evidence.
- Business identity & verificationIdentity VerificationIdentity verification checks whether identity evidence supports the identity claimed by a person or entity in a particular workflow.
- Business identity & verificationAuthorised RepresentativeAn authorised representative is a person permitted to act for a business within a defined scope of authority.
- Due diligence methodsCustomer Due Diligence (CDD)Customer Due Diligence is the work of establishing a customer’s identity, understanding the relationship and assessing its risks. For a corporate customer, the file often combines company identity, ownership, representatives and an explanation of the intended activity. The aim is an evidence-supported decision that can be reviewed later, rather than a collection of unchecked documents.
- Due diligence methodsEnhanced Due Diligence (EDD)Enhanced due diligence applies deeper investigation to relationships whose risks or applicable requirements call for additional evidence.
- Due diligence methodsSimplified Due Diligence (SDD)Simplified due diligence adjusts the intensity of checks where the applicable framework permits a lower-risk approach.
- Due diligence methodsRisk-Based ApproachA risk-based approach allocates controls and review effort according to the assessed likelihood and impact of relevant risks.
- Due diligence methodsCustomer Risk AssessmentCustomer risk assessment evaluates the factors that make a particular customer relationship more or less exposed to relevant risks.
- Financial crime conceptsAnti-Money Laundering (AML)Anti-money laundering describes measures intended to prevent, detect and respond to attempts to disguise or use proceeds of crime.
- Financial crime conceptsFinancial Crime ComplianceFinancial crime compliance organises the controls used to address relevant financial crime risks and applicable obligations.
- Financial crime conceptsMoney LaunderingMoney laundering involves dealing with criminal proceeds in ways intended to disguise their origin or make them appear legitimate.
- Financial crime conceptsTerrorist FinancingTerrorist financing concerns providing or collecting resources for terrorist purposes and can involve funds from lawful or unlawful sources.
- Financial crime conceptsSuspicious ActivitySuspicious activity is activity that raises a reasoned concern requiring assessment under the relevant review or reporting process.
- Screening & reviewSanctions ScreeningSanctions screening compares relevant parties against sanctions information to identify possible matches requiring interpretation.
- Screening & reviewPolitically Exposed Person (PEP)A politically exposed person is an individual whose public role falls within a relevant PEP definition used in a risk framework.
- Screening & reviewAdverse MediaAdverse media is negative information about a subject found in news or other public reporting and assessed for relevance and credibility.