The world’s first free online anti-money laundering (AML) community has been launched by KYC360 to assist compliance and AML professionals around the world with thoughts on best practice and to debate the issues that affect them.
As well as providing access to the latest due diligence, regulatory and fraud information, KYC360 encourages discussion of compliance matters that affect professionals in their day to day work.
Built with input from compliance professionals who were consulted on its content, the site at www.kyc360.com has the support of a number of leading organisations including the British Bankers Association, the Society of Trust & Estate Practitioners and the International Compliance Association. The facility is used by key regulators and financial investigation units in Europe and the Americas.
Free tools are offered in KYC360 including:
‘Factbook Lite’, which allows users to assess risk in different countries, onshore and offshore, around the world, and’RiskScreen’, an innovative program that undertakes full web and Office of Foreign Assets Control (OFAC) database searches for individuals. Registration is free at the site.
In addition to the free product facilities, users also have the option to upgrade to premium content, which includes EDD 360 (‘Enhanced Due Diligence 360’), a comprehensive customer due diligence research tool, and an expanded version of ‘Factbook’.
A key part of the KYC360 community is its role in facilitating debate surrounding risk, compliance and regulatory issues. Fraud and criminal news stories and specially commissioned videos are regularly updated, whilst users are also able to engage in discussion on topical issues in the forum. It is also intended to develop the social side of the site, with online users able to chat informally with colleagues.
D.C.