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With the word "terrorism" on the tip of everyone's tongue at the moment, its no wonder governments & industry alike have taken drastic steps to ensure "you" are not a conduit for money laundering
KYC is the due diligence and bank regulation that financial institutions and other regulated companies must perform to identify their clients and ascertain relevant information pertinent to doing financial business with them.
The PATRIOT ACT (US), the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Australia), requires strict reporting and investigation procedures, where the onus is on company's like yours, to prove you "know your customer". No longer can a company plead ignorance, or claim they "did not know" a client or customer may or may not have been associated with terrorism or money laundering. Its real, and its now.
Legislation, and more importantly "penalties" have been passed to ensure businesses including financial institutions such as mortgage managers, brokers, fund managers, bullion dealers, as well as companies in the legal, accounting & bookmaking professions perform a KYC background check on any customer who "may" pose a threat of money laundering / terrorist financing.
Unlike other KYC specialists, GCS can provide clients with unique "GCS KYC Due Diligence Reports" sold individually, at best practice rates. Talk to GCS about developing a KYC game plan that ensure you a compliant.
Place KYC Due Diligence Enquiry
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