Foundation on Due Diligence

Introduction to KYC

Financial institutions (FI) conform to certain standards that are mandated by regulatory authorities and government to run their business.

Objective of KYC

KYC aims to assist corporate entities to verify the identity of the counterparties.

Digital KYC

As people prefer to transact online, digital transactions continue to rise and so the process of onboarding and KYC should adopt as well.

International Standards

International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation

The Financial Action Task Force (FATF) is an independent inter-governmental body that develops and promotes policies to protect the global financial system against money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction.

Assessing Risks and Applying Risk-Based Approach on KYC/ Due Diligence

Measures to prevent or mitigate money laundering and terrorist financing and should be commensurate with the risks identified.