NetEconomy, the provider of financial crime management and compliance applications, has expanded its Customer Due Diligence (CDD) application for ongoing due diligence and monitoring of customers to manage customer riskscoring and enhanced customer due diligence for high-risk customers.
“Regulations such as the Third EU Money Laundering Directive, Sections 312 and 326 of the USA PATRIOT Act, and Australia’s new AML/CTF Bill continue to put pressure on financial institutions to take a risk-based approach to their customer due diligence process, and to ensure Know Your Customer (KYC) requirements are effectively addressed,” says Sebastian Kuntz, the CEO of NetEconomy. “NetEconomy’s expanded capabilities take CDD to the next level – providing our customers with new and innovative capabilities to identify and monitor customers with high-risk profiles and high-risk behavior in a dynamic way.”