Compliance and Due diligence: KYC & KYS

The Risk & Compliance Institute is an association founded in October 2017 which brings together lawyers, corporate lawyers and compliance experts with strong field experience in France and internationally. The team shares the conviction that an informed compliance approach can enable organizations to effectively control risks and thus more calmly seize the opportunities that present themselves to them on local, national and international markets.

THE CONFERENCE OF 09/07/2020

KYC for “Know Your Customer” or KYS for “Know Your Supplier” are the names of any procedure allowing a financial institution, as well as large companies, to identify a third party within the framework of “Due Diligence” before any entering into a relationship and throughout the life of that relationship.

These procedures meet the due diligence obligations with regard to the fight against money laundering and terrorist financing, as well as the fight against corruption. They also meet an obligation to inform and warn investors and borrowers.

They serve to protect financial institutions, as well as large companies, from the increase and impact of these risks which only increase with the penetration of digital in our lives and highly volatile geopolitical events.

The conference of the Risk & Compliance Institute addressed the issues, the collaborative approach necessary with operational staff to define, according to their knowledge of field issues, taking into account the different regulations, the most important KYC processes. robust.

Intervened:

- Nathalie VANDAELE and Joseph MOCACHEN for ELLISPHERE

- Sandra BIRTEL and Jérôme LEE for BBL Consulting

- Laurent RENAUDOT for 99Advisory

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