The Forex & Brokers Industry can often be described as a complex and difficult industry where magnitudes of transactions are taking place on a global scale via various trading formats (options, derivatives, etc) .
The amounts traded can often enough seem overwhelming not only in amounts but also in the format that they are traded. This complex environment offer loopholes that allow excellent opportunities for fraud and financial crime to flourish. This often proves destructive to an organisation’s reputation as well as profitability having in mind the great in value fines and penalties that are imposed
It would therefore seem that the Term Risk Based Approach is the A to Z in the Risk Assessment Process of organisations and more so for those operating in the explosive environment of Forex Companies.
The Premium AML & KYC Compliance Solution care for the needs of Forex Firms with an apparelled level of expertise and knowledge.
It is the most comprehensive tool in KYC and AML Compliance Management with solutions in Electronic Document Verification, Electronic Identity Verification, Risk Categorisation, Negative Lists Screening (PEP, Sanctioned or within Adverse Media Lists, etc), Due diligence and Enhanced Due Diligence, Transaction Monitoring, etc.