The legal and financial/accounting professions are particularly targeted by the 4th Directive. For these professions, two rules are important:
> to know one’s client prior to entering into a relationship and to assess the degree of risk associated with the new transaction.
>> 1stKYC allows these two questions to be answered, based on the client’s first and last name:
- we check the presence or not of the client in +/- 350 worldwide sanctions lists,
- we identify any negative press articles that may exist in the world press,
- we check that the customer is not a Politically Exposed Person or a relative of such a person.
Once the client’s file is completed, 1stKYC gives an assessment of the risk generated by the relationship.
> monitor the risk of the relationship by automatically applying regular vigilance on the client.
Depending on the degree of risk determined at the time the relationship is entered into, 1stKYC automatically verifies, monthly (high risks), quarterly (medium risks) or annually (low risks), that the client’s situation has not changed compared to the previous verification.
If the application detects a change in the customer’s situation, the 1stKYC user is notified.
For these professions, the use of the SaaS (Software as a Service) version is recommended. We offer a subscription to the service, which guarantees continuity of monitoring. The subscription will be different according to the number of persons (individuals or legal entities) monitored in the subscription.