The KYB

Sanctions compliance is becoming increasingly challenging amidst growing geopolitical instability. Businesses with international trading partners may find it tough to navigate the complex sanctions compliance terrain, particularly due to secondary sanctions or sanctions enforcement through third parties. In the recent months, G7 countries have more actively started pursuing the sanctions enforcement particularly in aftermath of Ukraine Russia war. For businesses who have to deal with clients using the shell companies and complex shareholding pattern to conceal the ownership, complying with sanctions regulations is more tough. In many cases, they don't even know who is the ultimate beneficial owner of their trading partner. Join us at our panel discussion to discuss some of the hard questions with Owais Arshad, Director - Global Economic Sanctions Advisory at RBC, Neil M, Compliance Specialist Consultant - Compliance CRG, and our CEO Mark Bain on July 12th. #sanctions #compliance #theKYB

Join us for a quick, 10-minute live-streamed Feature Launch event by The KYB on Wednesday, July 10th, 2024, from 07:00 to 07:10 CT. The KYB CEO, Mark Bain, will discuss our latest feature and how we enable businesses to react seamlessly to resolve their verification issues. The livestream will be accessible from anywhere. Don't miss out on The KYB updates, it will matter the most.

Stay ahead in the ever-evolving world of business compliance with The KYB Insider. Our latest edition is packed with essential updates, expert insights, and game-changing announcements that can revolutionize your verification and due diligence processes. Join us on July 10th for an exclusive live event where we'll reveal exciting new features designed to elevate KYB compliance. Don’t miss out and lead the way with your trusted guide to navigating global business complexities. #newsletter #TheKYB #datapoints

How fraudsters use fake companies to defraud victims? Have you heard of tech support scams targeting the elderly? A recent case exposed a £1 million scam targeting elderly and vulnerable consumers. Money launderers facilitated the scheme by setting up fake tech support companies impersonating well-known brands. Victims were pressured into remote access and charged exorbitant fees for "fixing" non-existent computer problems. Lord Michael Bichard, Chair of National Trading Standards, said: “This group of money launderers had no qualms about enriching themselves off the backs of vulnerable and elderly victims – deviously setting up a vast web of companies to hide their criminality.” This case highlights the growing threat of elder fraud and the importance of implementing strong KYB protocols to prevent money laundering. The KYB can help businesses identify and mitigate risks associated with fake companies and ensure they are not unwittingly facilitating fraud. Learn more about The KYB and how it can protect your business. #business #fakecompanies #TheKYB

Complex business structures can be a compliance nightmare, especially with extended sanctions. Watch the full discussion (https://lnkd.in/eSXDqyUR) to learn how businesses can navigate complex ownership structures and ensure compliance with extended sanctions. #business #complexownership #theKYB

Day 1 at Money 20/20. Mark Bain, CEO - The KYB, is at Money 20/20. #money2020 #theKYB

Complex legal structures can be a red flag. Shell companies and complex ownership structures can be used by criminals to hide their ownership of a company. This can make it difficult to know who you are doing business with and create money laundering risks and other financial crimes. The KYB can help you identify the beneficial owners of a company, even if they are hidden behind complex legal structures. This transparency can help you avoid doing business with criminals and mitigate financial crime risks. #shellcompanies #financialcrime #theKYB

How do shell companies across different jurisdictions contribute to the challenges of KYB compliance? Watch the full discussion (https://lnkd.in/eSXDqyUR) to learn how companies across jurisdictions can utilize shell companies to obscure ownership and hinder KYB efforts. #shellcompanies #compliance #theKYB

The KYB CEO Mark Bain will be attending Money 20/20, the world’s leading premium content, sales, and networking platform for the global money ecosystem. Meet our CEO and discuss the challenges of escalating risks, regulatory changes, and financial crimes in 2024. #money2020 #TheKYB