RISK / Understanding and solving key challenges within customer risk assessments

Over the past decade regulation brought new obligations in the compliance area, topic like beneficial ownership in the 4th AML directive or official local registers foreseen in the 5th AML directive are key challenge. Further, recent statistics indicated, that in average 11 million changes a month occurred in the company ownership-structures, that’s equal to around 4 changes per second. Beneficial ownership in proper customer due diligence has multiple aspects to be considered, so that clients are able to perform informed risk taking. And once business relationship is being establish, to effectively monitor existing relationship.

Bureau van Dijk – A Moody´s Analytics Company, has extensive company data, corporate ownership structures and adverse data that delivers information on your customers and business partners, and the individuals behind them.

During the session there will be discussion, from data point of view, on the complexity of ownership structures, especially when multiple jurisdiction are involved, with presence of high risk elements, whether related to country, industry, exposure to sanctions or individual risks such as PEPs or match with adverse media. A case study in the final part of the presentation would demonstrate, how automatic KYC process not only fulfill dynamic regulation, but also at the same time enable analysts to focus on challenges and entities with high risk potential in the most efficient way.

Main Takeaways:

    Understanding and solving key challenges within customer risk assessments

  • Navigating complex ownership structures
  • Beneficial ownership perspective in customer due diligence
  • Case study: From manual to automatic KYC process