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KYC Process Review
KYC/CDDHigh Risk
January 5, 2024
Risk Score
45/ 100
Risk Level
High
Assessment Summary
Critical gaps were identified in the KYC verification process and customer onboarding procedures.
Key Findings
4 findings identified
- 1Incomplete beneficial ownership documentation
- 2Identity verification gaps for international customers
- 3Outdated customer risk profiles
- 4Manual processes prone to errors
Recommended Procedures
4 recommendations
- 1Implement automated identity verification
- 2Update beneficial ownership collection process
- 3Conduct customer risk re-assessment
- 4Deploy digital KYC solution