Knowing to Re-Knowing: The Critical Role of Re-KYC in Strengthening AML Compliance

The Re-KYC process is required to be carried out by Regulated Entities in UAE to update the KYC information of their existing customers periodically, developed on the fundamentals of the risk-based approach.

Our in-house AML Expert, Dipali Vora, through our latest webinar, drew out the regulatory requirements, processes, best practices, challenges and measures to combat such challenges through the use of technology while conducting a Re-KYC process for a Regulated Entity. We have published the recording of the live webinar on YouTube so that audiences who missed attending the live event can benefit by referring to this recording, which contains insights into:

• Understanding triggers for initiating the Re-KYC process
• Understanding factors, developed with a risk-based approach while determining the periodicity for conducting Re-KYC of customers posing varying degrees of risk to a Regulated Entity
• The document collection requirements for Re-KYC and means to validate the same
• Understanding the Re-KYC best practices when dealing with high-risk customers
• Understanding the scope of automation while conducting Re-KYC through an AML Software Solution
• Getting a glimpse of the future of Re-KYC by implementing Perpetual KYC Software

Additionally, the webinar was integrated with live scenario-based quizzes, helping audiences gauge their knowledge about Re-KYC implementation.

Watch the webinar recording on YouTube now and enhance your understanding of the importance and role of Re-KYC in mitigating the ML, FT, and PF risks that arise after establishing business relationships with any customer.