What you don’t know can hurt you
As a bank, non-banking financial institution or corporate within the regulated sector, you’re obliged to implement robust due diligence checks on customers and counterparties. If not, you face reputational damage and fines – global fines actually topped $280bn in the last decade. Worst still, you risk being associated with parties connected with terror or fraud.
You really need to Know Your Customer (KYC) through rigorous checks. But at the same time you need to streamline processes to drive business growth and keep spending under control.
It’s a challenge that existing manual research processes simply aren’t up to. That’s where Firco Online Compliance, our fast and robust online screening solution, comes in.