AML/KYC Compliance

Set up a KYC compliance program by applying tiered Enhanced Due Diligence (EDD), PEP screenings, and source of wealth verifications to meet regulatory standards for high-risk client onboarding. Use the provided templates to structure your risk assessment framework.

The difference between SDD, CDD, and EDD lies in depth: Simplified Due Diligence for low-risk, Customer Due Diligence for standard, and Enhanced Due Diligence for high-risk customers. This tiered approach scales verification intensity based on your customer risk classification.

Identify ultimate beneficial owners using provided methodologies that trace ownership structures to satisfy AML compliance requirements. This ensures transparent corporate structures are screened against sanctions lists during the onboarding process.

File a suspicious activity report when ongoing monitoring detects transactions matching predefined financial crime typologies. The Skill outlines procedures for identifying, documenting, and reporting these suspicious transactions to relevant regulatory authorities.

Yes, this AML compliance guidance covers EU AML directives and integrates sanctions screening alongside PEP checks. This ensures your program design aligns with current regulatory frameworks and quality gates for ongoing monitoring.