Enhanced Due Diligence: Challenges and solutions
By conducting enhanced due diligence, companies and organizations are better able to understand the risks they may face when working with an entity or individual. Although they may be aware of some risks, like the possible dangers of doing business in a region known for high levels of corruption, there are other types of risk that also need to be taken into account. This Expert Takes a look at the challenges faced and the available solutions.
Enhanced due diligence processes form part of a best-practice, risk-based approach as well as providing a critical framework during the anti-money laundering and know your customer on-boarding life cycle.
Transaction monitoring forms part of an organization's governance, risk and compliance program. Thomson Reuters Transaction Monitoring screens for suspicious financial activity while supporting your Know Your Customer (KYC) and on-boarding process.
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