Objectives of KYC analysis is:
2 Customer Profile
3 Identify all relevant relations:
4 Identify the Directorship Structure
5 Identify the Shareholding Structure and UBOs
6 Verify documents and identities
7 SoF and SoW
8 Screenings and background checks
Different types of Due Diligence are:
-SDD (Simplified Due Diligence) – performed only in particular cases when the customer has an initial low risk and is regulated or stock market listed.
-CDD (Customer Due Diligence) – performed most of the times is the standard analyses.
-EDD (Enhanced Due Diligence) – performed when the client is High Risk or when other factors dictate it.
KYC procedures can be mapped in different types: