What is Risk-Based Approach (RBA) in KYC/AML?
In the mid-1990s, KYC and AML regulations were still new and prescriptive in nature. Banks and Financial Institutions were forced to tick the boxes and follow best practices.
Investors come in countless shapes, sizes and levels of risk. And while investment is an integral component of the global economy, it nevertheless carries risk for both investors and investees. In this article, we take a look at what an identity verification and enhanced due diligence process for investors can look like using an automated KYC platform.