Risk Assessment
Learn about KYB (Know Your Business) compliance requirements and how Ambriel helps verify business identities, screen against sanctions lists, and maintain regulatory compliance.
What is KYB Compliance?
The Financial Action Task Force (FATF) recommends that countries implement effective Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) regulations. The European Union's 5th and 6th Anti-Money Laundering Directives (AMLD5/6) also require businesses to verify the identity of corporate entities, assess their risk profiles, and screen against global sanction lists, PEP (Politically Exposed Persons) databases, and high-risk profiles.
What does Ambriel's KYB Risk Assessment solution do?
Ambriel's KYB risk assessment solution is designed to help businesses verify business identities and assess their risk exposure. It does this by providing real-time screening, monitoring, and data management capabilities.
Screening
The KYB API screens businesses against global sanction lists, PEP databases, and high-risk profiles. This ensures that businesses are compliant with KYB regulations and can assess potential risks associated with business partners and customers.
Monitoring
The KYB API also provides continuous monitoring, alerting businesses to any changes in a business entity's compliance status or risk profile over time.
Data Management
The KYB API provides a secure and reliable way to manage business data, ensuring that it is up-to-date and accurate. Additionally, all searches and results are stored in a secure and tamper-proof log for 5 years, providing a complete audit trail.
How does it work?
The KYB API integrates seamlessly with the Fraud API, providing a holistic approach to business risk assessment and financial crime prevention. The KYB API is designed to be compatible with the Anti-Money Laundering Directive (AMLD5/6) of the European Union, as well as the recommendations of the Financial Action Task Force (FATF).