Keep Money Laundering and Fraud out - TONBELLER® AG
Keep Money Laundering and Fraud out - TONBELLER® AG
Keep Money Laundering and Fraud out - TONBELLER® AG
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Structure of sample measures for account officers:<br />
Risk Level Measures for Customer Acceptance<br />
Whitepaper | <strong>Keep</strong> <strong>Money</strong> <strong>Laundering</strong> <strong>and</strong> <strong>Fraud</strong> <strong>out</strong> -<br />
Know your Customer (KYC)<br />
Low � Presentation of valid original identify documents<br />
� Establish purpose of account<br />
� Establish source of funds<br />
� Retain copies<br />
Medium � Above plus…<br />
High<br />
High – Legal<br />
� Check against sanction-/watch lists (…)<br />
� Send registered letter to customer at provided address. Retain signed<br />
return receipt<br />
� (…)<br />
� Above plus…<br />
� Independent verification of customer acceptance documents<br />
� Verification of source of funds<br />
� Interview with bank officer<br />
� Visit by bank officer to customer home or business<br />
� Approval from branch officer<br />
� Updating account information/documents every twelve months<br />
� (…)<br />
� Above plus…<br />
� Compliance alert<br />
� Approval from CEO<br />
� (…)<br />
2-14
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