Tag: KYC
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The Almighty AML Certificate: What It Is, Who Needs It, and How Much It Costs
In today’s increasingly complex financial environment, regulatory compliance is not just a box to tick—it’s a barrier to entry. And at the center of that barrier stands the Almighty AML Certificate. Whether you’re launching an offshore fund, opening a high-risk bank account, trading in digital assets, or conducting business in jurisdictions with strict Know-Your-Customer (KYC)…
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Navigating Dory Gold Export: The Complex Web of African and International Regulations
In the first part of this series, we laid out the foundational steps to close an offshore gold deal, emphasizing speed, transparency, and respecting the Golden Rule: the one with the gold makes the rules. Now, let’s dive deeper into one of the most misunderstood—and risky—areas of the trade: Dory Gold export. Dory gold, often…
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Know Your Customer (KYC) and Anti-Money Laundering (AML) Rules of the Road
KYC and AML Regulations KYC (Know Your Customer) laws refer to regulations that require financial institutions and other businesses to verify the identity of their customers and clients in order to prevent money laundering, terrorism financing, and other forms of financial crimes. KYC laws were introduced in the United States in the 1970s under the…
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The Future of Digital Identity Management & KYC
Self-Sovereign vs Digital ID Self-sovereign identity (SSI) is a decentralized approach to digital identity management that emphasizes individual control and ownership over personal data. In contrast, digital identity (DI) typically involves the use of centralized systems, such as those employed by social media platforms, governments, and financial institutions, to manage and authenticate identity. There are…
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KYC, Transparency and Duty of Care in Wealth Management
Asset Protection is Duty of Care Duty of care is a legal obligation that requires wealth managers to act in the best interests of their clients and exercise a reasonable standard of care and skill when managing their assets. This duty encompasses a wide range of responsibilities, including providing sound investment advice, making suitable investment…
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Blockchain and Cryptocurrency Software Provider draglet Integrates 4Stop’s KYC and Anti-Fraud Technology
COLOGNE, Germany, April 25, 2018 /PRNewswire/ — 4Stop (“FourStop GmbH”) a leading KYC and anti-fraud technology provider, announces that it has completed the integration of its proprietary KYC and risk management technology with draglet and is now live and operational. draglet has been deeply involved in the developments of Blockchain technology since the conception of Bitcoin and Ethereum technology.…
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Financial Institutions AML & KYC
Financial institutions fear to be wittingly or unwittingly implicated when they are used to settle, facilitate, or finance international trade transactions (e.g., through processing wire transfers, providing trade finance, and issuing letters of credit and guarantees). Implication is criminal prosecution for money laundering. Financial Action Task Force (FATF) rules extends to everybody and leads to…
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Know-Your-Customer (KYC) for a Clean Nominee Bank Account
[box]Know-Your-Customer (KYC) rules that freeze up non-compliant banking, businesses, entities and persons. Freeze up means that transfers are blocked; no trade in capital processed.[/box] Financial institutions fear to be wittingly or unwittingly implicated when they are used to settle, facilitate, or finance international trade transactions (e.g., through processing wire transfers, providing trade finance, and issuing…
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Pre-qualified AML & KYC Clean Nominee Bank Account
[box]Has a bank told you they have no problem with FATCA, CRS or Automatic Exchange of Financial Information? Do they offer a Nominee Bank Account?[/box] Some misunderstand what they have said. What they have said is ”we” only accept transfers from Financial Institutions who have performed the AML & KYC. [box type=”alert”]For lack of a…