5 Steps to Effective KYC Compliance

5 years ago dzone.com

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by To play by the rules and avoid unnecessary fines, companies are getting back to the basics in order to fully evaluate their KYC processes and determine the changes ahead.

But to get this advantage, businesses have to know how to play by the rules and get their KYC right.

A company must review the regulatory demands of the jurisdiction it is based in and follow the rules, implementing an effective and compliant tool for the workflow.

The best practice is to continue monitoring them in case of any unusual patterns and investigate suspicious cases.

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