Simplify, Secure, and Scale with Sinpex

Verification obligation: Do you comply with the requirement under Section 11 of GwG to verify legal entities on the basis of official documents instead of relying solely on database comparisons?

Identification of persons: In accordance with section 10 of GwG, do you ensure that all persons appearing are clearly identified and legitimized before a business relationship is entered into?

Ownership structure check: Do you check and validate the beneficial owners independently instead of relying solely on a comparison with the transparency register?

Screening processes: Do you have a structured screening process that includes sanctions lists, PEP status and adverse media in accordance with the requirements of Section 10 GwG?

Continuous monitoring & risk levels: Do you adjust the frequency of re-KYB checks based on risk and ensure that final decisions are people-led?

There’s room for improvement to ensure your company meets regulatory standards.