Keep Money Laundering and Fraud out - TONBELLER® AG

More documents

Recommendations

Info

CIP – Legal persons – What is needed? � Verifying the legal status thru proper and relevant documents Whitepaper | Keep Money Laundering and Fraud out - Know your Customer (KYC) � Is the person who is purposing to act on behalf of the entity actually authorised to act? (Verify his ID, by using third party algorithms where applicable). � Understand the ownership and control structures – who is the ultimate beneficial owner? � … 2.2.1.2 Dynamic Know your Customer Questionnaire Questions to be asked during customer acceptance have to be dynamic in two ways: (a) Questionnaires can be adjusted to the risk situation of the bank/institute over time: Once a new legal requirement or risk factor comes up, the bank would like to add new questions to be asked. Without any involvement of an IT department or database administrator the bank is able to add new questions, define the characteristics of the answer (selection, mandatory, character or numeric, …) and identify where to store the answer to that question. (b) Situation-depend variant for the questionnaire (see example below) The questionnaire has to be dynamic in an additional aspect: some questions will only be asked on dependency of previous answers. Example Within the KYC questionnaire the potential customer has to specify if he or she is a representative of a legal entity/company or a natural person. In case of the legal entity the authorized person will be asked different questions than the natural persons. The potential customer then has to provide details about the company such as the full legal name of the entity, country/date of incorporation, country of domicile (if other than country of incorporation), registration number, correspondence address and other information. Siron ® KYC is able to manage all different versions of a questionnaire within one single template valid for all dependencies. Other Examples � If the customer states to have foreign payments one might ask for the expected volume and the source country of funds. � For a corporate customer the structure of the beneficial owners has to be entered � … 2-18
Whitepaper | Keep Money Laundering and Fraud out - Know your Customer (KYC) Image: Generate your institute-specific Know your Customer questionnaire(s) with Siron ® KYC 2-19
Page 1 and 2: Whitepaper Keep Money Laundering an
Page 3 and 4: Table of Content Whitepaper | Keep
Page 5 and 6: 1.1 Know Your Customer Policies Whi
Page 7 and 8: 1.2.3 Africa Egypt None Whitepaper
Page 9 and 10: Whitepaper | Keep Money Laundering
Page 11 and 12: 2.1.2 Categorize Risks Whitepaper |
Page 13 and 14: Headquarter Region - North Branch N
Page 15 and 16: 2.2 Step 2: Know your Customer Whit
Page 17: 2.2.1 Customer Acceptance Whitepape
Page 21 and 22: Beneficial owners There are various
Page 23 and 24: 2.2.1.3 PEP screening & watch list
Page 25 and 26: 2.2.1.4 Beneficial owner Whitepaper
Page 29 and 30: 2.2.1.7 Case Management Whitepaper
Page 31 and 32: 2.3.2 Re-Calculation of the risk Wh
Page 33 and 34: Supported Application Servers: Whit
Page 37 and 38: 5. Appendix 5.1 Glossary 2003 FATF

Keep Money Laundering and Fraud out - TONBELLER® AG

Create successful ePaper yourself

Delete template?

Save as template?