, which is the process of assessing the risk both during the onboarding process and on an ongoing basis.refers to monitoring customer accounts and activity for illegal behavior, and it is a primary tool in helping to detect and prevent money laundering and terrorist financing.Case management is the critical step where analysts at regulated organizations review and investigate suspicious activity that was detected by the KYC or transaction monitoring system.
Each amendment and law adds a layer of complexity and burden to the compliance teams of regulated institutions. The complexity is aggravated by the number of different solutions that need to be managed and orchestrated to satisfy different aspects of these regulations.
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