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Importance of a KYC process for every company

Laws and regulations across various jurisdictions have required banks, insurance companies and other financial institutions to develop strong know-your-customer (KYC) processes. These laws are in place because financial institutions face several risks, including money laundering and terrorist financing.

While there are regulatory requirements for banks and insurance companies to ‘know’ their customers, there is generally no legal obligation for non-financial organisations to conduct integrity screening or due diligence on customers.

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Special report: Work with a dedicated compliance partner to better serve your clients
Special report: Work with a dedicated compliance partner to better serve your clients

Many companies see the value in working with compliance-specific consulting firms such as The Red Flag Grou...

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Supplier codes of conduct
Supplier codes of conduct

Many companies are starting to recognise the importance and value of having a written code of conduct for t...