Navigating The Complexity of Ownership From The Lens of Sanction By Extension
Tuesday, 30th April. 13:00 - 14:00 London Time (GMT+1)
HOST
Speaker
The KYB serves as the primary data source for verifying businesses and conducting corporate due diligence in over 250 countries and states.
Navigating the Complexity of ownership from the lens of Sanction by Extension
Mitigating Business verification complexity with The KYB in MENA Region
Onboard businesses with our swift KYB verification.
Expand globally without facing non-compliance challenges
Identify high-risk corporate clients while uncovering UBOs
Mitigate the risk of onboarding a shell company.
Partner with trusted companies and beneficial owners
Fortify your supply chain and ensure enhanced security
Mitigating Business Verification Complexity with The KYB in MENA Region
API Integration
We are excited to empower developers with all the information needed to utilize the full potential of our API. This comprehensive documentation serves as a guide to seamlessly integrate our API into applications, unlocking a world of possibilities.
KYB stands for Know Your Business, which is a due diligence process that companies use to verify the identity and legitimacy of their business partners or customers.
Whitepaper
The European Union Agency for Criminal Justice Cooperation (Eurojust) reported that cross-border money laundering cases have increased within the EU, exceeding from 315 in 2016 to 3000 in 2022.
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Adopting the 6th Anti-Money Laundering Directive, or “6AMLD,” which went into effect in June 2021, is one of the most significant recent developments with the recent update in March 2023 for compliance teams or any firm that is required to follow AML/CTF standards.
6AMLD is a significant shift in EU policy that follows several high-profile businesses that cast doubt on the efficacy of the EU’s AML strategy. In March, the EU updated the AML/CFT policies, discussed the single rulebook regulation, and established the European Anti-Money Laundering Authority (AMLA) to increase the stringent regulatory approach to AML.
Any business operating in the EU premises that wishes to avoid fraud and non-compliance fines in 2023 must invest in the appropriate AML-KYB technology. Nonetheless, businesses must ensure they have robust, flexible procedures that can adapt to the regulatory landscape to prepare for future changes.
