|eBOS Technologies organized together with GP Global the seminar titled “INITIAL AND ‘ON-GOING’ CUSTOMER DUE DILIGENCE (CDD)” which was held on February 7th in Limassol and February 14th in Nicosia, with a great number of participants.
The objective of the seminar was to assist Compliance officers to familiarize themselves with the Customer Due Diligence definition, requirements and how to handle specific risk cases.
Mr. George Papanicolaou, GP Global, has explained in details how the Due Diligence can be achieved through different case scenarios as well as how to perform the risk evaluation, emphasizing that an effective AML compliance is done by using a software that will assist the compliance officer not only to follow up the deadlines in terms of KYC expiration date, but also to perform a risk based evaluation of the clients, the formula used to obtain the scoring of the client being designed by following the latest requirements of the AML law.
Mrs. Alina Horatta, eBOS Technologies, has presented a practical approach of the initial and on-going due diligence as well as the risk evaluation by running a demo of the WiseBOS AML. The solution handles KYC documents and actions, and also determines the risk level through the risk evaluation which is built based on scoring and metrics, including information on company transactions’ size, movement of funds, etc. Moreover, the WiseBOS AML provides a risk analysis score report as well as a detailed Economic profile of the company.
The WiseBOS AML solution key features are:
- Workflows for KYC documents and actions management
- Risk classification wizard
- Alerts & reminders
- Ability to perform the company due diligence together with all its related entities from the same screen
- Intelligent reports
- Company/group structure