Keep Money Laundering and Fraud out - TONBELLER® AG

2.2.1 Customer Acceptance
Whitepaper | Keep Money Laundering and Fraud out -
Know your Customer (KYC)
No account should be opened in the name of anonymous fictitious names. The challenges of KYC
compliant client onboarding can now be consolidated and managed effectively in a single centralized,
feature-rich solution. Siron ® KYC provides the capability required to enforce compliance policy while
improving the efficiency of the customer acceptance process. With Siron ® KYC financial institutes are
able to objectively identify those customers that carry higher than normal integrity risks for the bank.
TONBELLER is supporting financial institutes to comply with “Know your Customer” regulations. By
reading the following chapters you will get insights about the following tasks and KYC/customer
acceptance requirements:
� Banks shall classify customers into various risk categories (risk rating) during customer
acceptance based on risk assessment (see 2.1.3 Assess Risks)
� Each risk category has other acceptance criteria for each customer category (legal or natural
person) (see 2.1.4 Assign Risk to Adequate Prevention Measures)
� For the purpose of risk rating banks shall obtain the relevant information from customer at the
time of customer acceptance (see 2.2.1.2 Dynamic Know your Customer Questionnaire)
� Necessary checks shall be conducted before opening a new account to ensure that the
identity of the customer does not match with any person with a known criminal background or
with banned entities such as persons that are listed on an sanction-, watch-, black list (see
2.2.1.3 PEP screening & watch list management)
� Accept or reject customer after verifying the identity and after getting an understanding of the
risks the potential customer poses to the bank
2.2.1.1 Customer Identification Process (CIP)
The customer identification process (CIP) is an integrated part of the “Know your Customer” process.
As a financial institute’s CIP means that all customers (face-to-face & non-face-to-face) are properly
identified through documented processes and that the identity of the potential client is verified during
the customer acceptance by using reliable and independent source documents, data and information.
The customer identification process provisions apply equally whether the client is a natural person or
legal entity or company. However the identification requirements will vary between entity types:
CIP – Natural Persons – What is needed?
� Document proving the ID
� Document proving address
� Latest photograph
� Document to verifying signature
� …
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