Requirements for Understanding Customer Risks

Financial Crimes Enforcement Network (FinCEN) requires banks, brokers or dealers in securities, mutual funds, and futures commodities to:

  • Identify and verify the identity of customers and their beneficial owners at the time a new account is opened.
  • Understand the nature and purpose of customer relationships
  • Conduct ongoing monitoring

 

Compliance Made Easy

Opus can help you comply with regulations via Clarity KYC solutions, our online workflow and surveillance tools for KYC/AML compliance and our award-winning, powerfully nimble Data Solutions that facilitate the cross-referencing and mapping of entity and reference data to help verify the identity of customers and beneficial owners and more.