With our new passcon KYC-Factory we are your partner for more efficiency in compliance 

We are a modern KYC service provider with location e.g. in Germany and a reliable partner for you in the field of Anti-Financial-Crime (AFC). We are characterized by high efficiency and conformity. Through the cooperation with passcon GmbH we support you in addition to our KYC-Factory services in finding your individual, effective KYC strategy and support you in the implementation as well as the operating phase.

In our KYC-Factory, we offer you standardized KYC-services tailored to your individual needs at individually calculable prices. We also provide on-site support in your premises.

We incorporate our international experience and work towards effective lean management methods.

With our broad experience we stand for a high and sustainable quality which is reflected in our wide-range of cooperation with tax consultants, auditors and IT providers. We draw on expertise, teamwork, a pragmatic approach and innovative ideas. This is how we achieve the best results.

Your satisfaction is our priority! We offer the right solution for every situation and are immediately ready for use. We would be glad to provide you with a personal offer tailored to your individual needs.

Yours                           Reibchen_white    &     
Corinna Reibchen               &            Oliver von Schweinitz

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Background - Money laundering scandals in the press

Money-laundering and sanction violations are punished with high penalties and concern both, customers and banks.

ENHANCEMENT OF REGULATORY REQUIREMENTS: BANKS UNDER enormous pressure to act

In addition to high penalties, the European Union is tightening its requirements to combat money laundering and terrorist financing. In particular, credit institutions face the challenge of implementation.

Need for SUSTAINABLE ANTI-FINANCIAL CRIME ORGANIZATIONS

Immediate action is a major challenge for banks, as organization, processes and systems are often not designed for them.

Sustainable Anti-Financial Crime Organization

Organization

A new comprehensive AFC organisation needs to be established. Interfaces have to be determined and set up appropriately.

Employee

An effective anti-financial crime organization needs experienced and competent employees. There are not sufficient resources in the market.

Standards

Banks have to check their existing KYC standards for the higher legal minimum requirements.

Processes

Implemented processes are not designed for the complexity and quantity of the current requirements. Extensive investments in new processes are indispensable.

Time Pressure

Banks need immediate action – but it takes 3-5 years to build an AFC organization.

Approach for a sustainable AFC organization with simultaneous active action

Starting point for sustainable AFC organizations

KYC is a necessary part of effective and efficient money laundering prevention.

GOVERNANCE &
CONTROL

  • Governance Framework Management
  • Policy and Standards Definition
  • ERA Management
  • Risk Appetite Management
  • Control Framework Management
  • Assurance Framework Management
  • Reporting Management
  • Training & Communications Management
  • Relationships with External Bodies Management
  • Onboarding: Perform New Customer Due Diligence (CDD/EDD)
  • Review: Perform Existing Customer Due Diligence (ODD/OEDD)
  • Exit: Perform Customer Exit
  • Perform Customer Screening
  • Manage Customer Screening Parameters
  • Investigate Customer Screening Alerts
  • Develop Transaction Sanctions Screening
  • Perform Transaction Sanctions Screening
  • Manage Transaction Sanctions Screening Parameters
  • Investigate Transaction Sanctions Screening Alerts
  • Perform Transaction Monitoring
  • Manage Transaction Monitoring
  • Investigate Transaction Monitoring Alerts
  • Manage Data
  • Develop Financial Crime Intelligence
  • Perform Optimisation Analytics
  • Perform Intelligence Investigations

Know Your Customer Lifecycle: Holistic view

The KYC Lifecycle encompasses all process steps in the recording, review and termination of the business relationship with the customer.

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Onboarding

STARTING THE CUSTOMER RELATIONSHIP

  • Determination of initial risk classification
  • KYC creation
  • Customer service
  • Account opening
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REVIEW

REVIEW THE CUSTOMER RELATIONSHIP

  • Event Management (ad-hoc)
  • Screening und Monitoring
    (Customer / transactions)
  • Ongoing data collection and clearance
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EXIT

TERMINATING THE CUSTOMER RELATIONSHIP

  • Trigger event
  • Documentation / Information
  • Execution