Published on Wednesday 12th Jul, 2023 by mwekadmin
FX and Cryptocurrency Trading Provider
This client traded almost exclusively in High Risk clients, the majority of which were domiciled on the Cayman Islands. Our engagement was in 2 phases;
Phase 1 was to cleanse the data held by the institution to ensure that it was consistent across the portfolio and satisfied the CIMA regulatory requirements relating to the onboarding of clients.
Once we completed phase 1, phase 2 was to refresh the entire portfolio of KYC/AML onboarding information to ensure that the business was able to perform their periodic connection reviews in line with their Risk appetite and the Risk rating of their client – this ranged from 1 to 3-year review cycles based on this risk rating of the client. We also assisted with event driven reviews that became due whilst on site with the client.
Portfolio size – mid ’00’s
Length of engagement – 8 months
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