Compliance is an analysis sector at Fitbank that, through a set of practices and procedures, can ensure the company complies with all the rules and definitions required by the Brazilian regulatory agencies.
It is a set of laws, regulations, and procedures designed to prevent the generation of income and resources obtained through illegal means from passing as legitimate income, a practice also known as money laundering. At FitBank, we have adopted solutions for identity verification, the documentscopy process, PEP list verification, sanctions screening, transaction monitoring, and behavioral analysis, which aim to prevent illegal practices.
The Know Your Customer is a term used to represent the process of knowing your customer. Within Fitbank, KYC applies a set of Compliance strategies aimed at preventing crime, identity fraud, terrorist financing and money laundering. KYC is regulated by Law 9.613/98, which provides for the prevention of the use of the financial system for illicit purposes. For KYC to occur, the client's data is requested when opening accounts in Fitbank.
Learn more at: Fitbank Ethics and Compliance
Know Your Business is a process to verify company registration, business license updates, and the identity of directors and other owners. Checks are also performed against sanctions, PEP, and Disqualified Directors through QSA analysis and adverse media presence based on country, nature of business, the value of transactions, and any suspicious reports.
Updated 4 months ago