Cross-border payment transactions promote international trade and services. However, foreign transactions entail an increased risk of financial crime. Credit institutions prevent this risk with effective correspondent bank monitoring and systematic analysis of payment messages.
Know your customer (KYC) –is one of the most important topics in bank compliance. It includes several preventive measures to accurately identify the customer. Financial institutions are faced with the enormous challenge to prevent money laundering and terrorist financing. To minimize risks, it is necessary to obtain information about your clients and their financial transactions. Anti-Money Laundering Directives, KYC and