A digital and print publication for anyone working in the South African insurance and financial services industries.
KYC/FICA requirements have become even more stringent - https://bit.ly/48A58RK We understand that getting to know your clients (KYC) and fully complying with the Financial Intelligence Centre Act (FICA) can be a challenging task - especially when there are so many requirements involved. DocFox
Are you risking financial loss by ignoring KYC regulations? Watch this quick video to learn why KYC is crucial and how it could benefit you. Watch the full video on :- https://lnkd.in/gcB9fQv9 #basicfundeclear #financialtips #kycupdate #newkycrules #kyc #kycstatus
A uniform KYC process can be a big boost to the MF industry Stalwarts of the MF industry discuss the introduction of the New Asset Class and other major regulatory challenges at the Cafemutual Confluence 2024 : https://lnkd.in/duzk9_vh
KYC is essential for maintaining the integrity of financial systems, ensuring compliance with regulations, and fostering a trustworthy relationship between financial institutions and their customers. #KYC #knowyourcustomers #kycanalysis
Robust KYC practices are no longer a luxury for organizations but a strategic necessity. By implementing a comprehensive #KYC program, you can foster trust with your customers, mitigate financial risks, ensure regulatory compliance, and position your business for sustainable growth. Contact us today to schedule a consultation and discuss how we can help you build a robust KYC program that fosters trust, safeguards your business, and empowers you to thrive in today’s dynamic #business environment. Call: +2349139385550 | Email: info@mactay.com #MacTay #backgroundchecks #knowyourcustomers
GLEIF and Swift are expanding their collaboration to provide certification for the mapping of Swift's Market Identifier Code (MIC) to the Legal Entity Identifier (LEI). This open source file will allow market participants to link and cross-reference key entity identifiers free of charge, easing compliance, KYC, regulatory reporting, and due diligence. The collaboration builds on a cooperation established in 2018 to link the Business Identifier Code (BIC) to the LEI. The MIC is an ISO code used to process and clear trades, and is gaining traction as securities industries move toward straight-through-processing. This significant step towards facilitating compliance and reducing costs for market participants comes as GLEIF has previously certified a mapping relationship between International Securities Identification Numbers (ISIN) and the LEI working in collaboration with the Association of National Numbering Agencies (ANNA). The resulting ease of gathering, aggregating and reconciling counterparty information will make it easier for market participants that use GLEIF and/or Swift data to conduct their business with confidence.
🔐 Make informed credit decisions with Risk Verify Database (rVd). Access crucial data to mitigate financial risks. 🏦 Learn more here: https://hubs.la/Q02VtSk-0 #RiskManagement #CreditDecisioning
Driving Compliance Success | Pre-Sales Professional | Sales Enablement Specialist | Business Development Strategist
Excited to share my latest blog post titled - Why Spotting Negative News Matters for Financial Institutions. Learn about the critical importance of identifying negative news during the KYC process and how Acuity Knowledge Partners helps clients effectively mitigate risks. Read more: https://lnkd.in/gjuSERUE #KYC #FinancialServices #RiskManagement #AcuityKnowledgePartners
42.8% of capital founders and 88% of their children and family members are unfamiliar with KYC (Know Your Client) regulations and guidelines. Penguin Analytics, based on answers of 13,500 families from 18 countries, with a Net Worth of $3M to $99M. The full report in 6 languages available here: https://lnkd.in/gV9cZwSf
Themis Thursday – 📃 Supporting Documents 📃 When making a disclosure to the FIU, Themis allows you to upload supporting documentation such as KYC documents, bank statements, corporate structure diagrams, media articles and images. These can be uploaded in a variety of formats such as excel, PDF, word or image files. When documents were key in the formation of your suspicion and creation of the disclosure, or when you think they will assist the FIU in understanding and analysing your disclosure, copies should be attached to the submission. When your disclosure refers to open-source articles, these must be attached as PDFs. Hyperlinks should not be used as the information they are intended to provide can be changed or deleted at the source.
💡 Fighting financial crime and ensuring compliance requires a robust transaction monitoring system and effective transaction monitoring rules. Explore our comprehensive guide to developing effective rules that meet regulatory requirements, customizing the rules to unique challenges, and adapting to evolving risks. 👉 Read the full article for in-depth analysis and strategies. https://bit.ly/4bj7erc #AMLCompliance #TransactionMonitoring #RiskManagement
