traceto.io

Know Your Customer (KYC) involves the set of processes where an organization demonstrates to regulators that they have assessed various risks, including money laundering, terrorism financing, credit worthiness and product suitability prior to and throughout any business relationship with the customer.

• Anti Money Laundering (AML) and Counter Terrorism Financing (CTF)

Anti Money Laundering regulations are designed to emplace controls that guard against the flow of illicitly obtained funds through the financial system. Counter Terrorism Financing refers to the set of controls aimed at eliminating the flow of financial resources to terrorists and terrorist organizations.

• Product Suitability

Product Suitability controls are intended to prevent the sale of financial products to clients’ on the basis that their risk, investment or credit profiles are not suited to the financial products being sold.

• Credit Worthiness

Credit Worthiness checks prevent lines of credit and margin from being extended to clients’ that are unlikely to be able to meet repayments.