A strong KYC process is essential for any organization. By verifying a client's identity and understanding their financial activities, institutions can detect suspicious behavior from the outset.
Monitoring systems detect suspicious transactions, which makes the subsequent discovery of criminal conduct much easier. These systems can flag large or unusual transactions and indicate certain levels of internal investigation.
If the funds seem suspicious, then that calls for SAR to be made to the proper authorities. Such measures allow governments to investigate and prevent suspicious conduct.
Collection
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