| Business Onboarding |
Collect basic information about the corporate customer and perform initial screening against sanction lists and PEP (Politically Exposed Persons) databases. |
| Corporate Identity Verification |
Verify the corporate customer's identity using business registration documents, tax IDs, and other official documents. |
| Beneficial Ownership Identification |
Identify and verify the individuals who have significant control over the business, ensuring transparency and compliance with regulatory requirements. |
| Document Verification |
Use advanced technologies like OCR (Optical Character Recognition) and AI to verify the authenticity of submitted corporate documents. |
| Risk Profiling |
Assess the corporate customer's risk level based on their industry, geographic location, and transaction behavior. |
| Enhanced Due Diligence (EDD) |
Conduct deeper investigations for high-risk corporate customers, including detailed background checks and source of funds verification. |
| Ongoing Monitoring |
Continuously monitor corporate customer transactions for unusual or suspicious activity, using automated systems to flag potential issues. |
| Periodic Review |
Regularly update corporate customer information and risk assessments to ensure ongoing compliance and accuracy. |
| Reporting and Record Keeping |
Maintain detailed records of all KYB activities and generate compliance reports as required by regulatory authorities. |
