by Ekrem Duman | May 31, 2026 | KYC & Compliance, Law
TL;DRThe Travel Rule requires certain financial institutions and virtual asset service providers to transmit originator and beneficiary information with qualifying transfers. For crypto and fintech businesses, this means collecting customer data, verifying...
by Ekrem Duman | May 31, 2026 | KYC & Compliance, Law
TL;DRSuspicious activity reporting is the formal process for investigating and reporting activity that may involve money laundering, terrorist financing, sanctions evasion, fraud, tax crime, corruption, or other financial crime. A report should be filed only when the...
by Ekrem Duman | May 31, 2026 | KYC & Compliance, Law
TL;DRSanctions screening checks customers, beneficial owners, counterparties, transactions, vessels, banks, addresses, and geographies against restricted-party lists and embargo programs. A complete program screens at onboarding, periodically, and at transaction...
by Ekrem Duman | May 31, 2026 | KYC & Compliance, Law
TL;DRBeneficial ownership verification identifies the natural persons who ultimately own, control, or benefit from a legal entity. UBO rules prevent criminals from hiding behind companies, trusts, nominees, shell entities, and layered ownership chains. A strong UBO...
by Ekrem Duman | May 31, 2026 | KYC & Compliance, Law
TL;DRCustomer due diligence is the process of identifying customers, verifying identity, understanding business purpose, assessing financial-crime risk, and monitoring the relationship over time. Standard CDD applies to ordinary customers; enhanced due diligence...
by Ekrem Duman | May 31, 2026 | KYC & Compliance, Law
TL;DR KYC and AML compliance is the control system businesses use to understand customers, prevent financial crime, detect suspicious activity, and satisfy regulatory obligations. A complete program includes customer due diligence, enhanced due diligence, beneficial...
