KYC and AML

Knowing who the firm acts for, under Act 1044

The firm decides what it must hold for each kind of client, the system says what is missing and when a review falls due, and the compliance officer confirms the risk band.

The KYC worklist of parties missing documents, due for review or expired. — The KYC worklist: every party missing something, due for review or expired.

Who uses it

What each person does with it

Compliance: Works the KYC worklist, confirms each client's risk band with a reason, and decides whether a concern is reported to the Financial Intelligence Centre.
Secretary: Files identity documents with their references, expiry and scans, and records each sanctions and PEP screening with what it found.
Partner: Opens a matter with KYC as a warning or a block, as the firm's setting says, and sees source of funds asked for on high risk work.

What it does

KYC and AML, in detail

Marked as in the product today or still being built.

What the firm holds, by kind of party
In the product
Identity documents, beneficial owners that cannot add up to more than the whole, PEP declarations and source of funds, under the firm's own rule.
A risk band someone confirms
In the product
Suggested from the client, the matter, the value, the jurisdiction and any PEP declaration, confirmed with a reason, and reviewed after a period set by the band.
Sanctions and PEP screening
In the product
Each search of the UN, OFAC, EU, UK and Ghana lists, a PEP database or adverse media kept with its result; verifying KYC needs a recent one and refuses a confirmed match.
Reports to the FIC
In the product
Suspicious transaction reports and cash at or above the FIC's threshold, drafted on the clock and hidden from everyone who could warn the client.