Financial Crime World

Bermuda KYC Customer Due Diligence: A Comprehensive Approach to Mitigate Money Laundering and Terrorism Financing Risks

Money laundering and financing of terrorism pose significant risks to businesses and individuals alike, threatening reputations and financial stability. To combat these threats, regulated firms in Bermuda are required to implement robust Know Your Customer (KYC) processes as part of a comprehensive risk management framework.

Expert Assistance for Effective KYC Practices

IQ-EQ offers expert assistance in developing and integrating effective KYC practices that meet jurisdictional regulations and industry best practices. Our team of compliance professionals provides tailored solutions designed to detect and prevent money laundering activities, while addressing investor queries and resolving any issues highlighted by prospective investors.

Cost-Effective Compliance Oversight Service

Our cost-effective compliance oversight service streamlines the onboarding process for investors, allowing firms to focus on deal activity and achieve favorable outcomes. By minimizing exposure to regulators, we significantly reduce the risk of facilitating money laundering and terrorist financing, ensuring readiness for regulatory audits.

IQ-EQ’s KYC Services

  • Investor KYC and Due Diligence Reviews: Our specialist knowledge enables a seamless onboarding process.
  • KYC Remediation: We refresh your KYC on a cyclical basis to stay in line with regulatory and internal policies, identifying and resolving gaps in existing compliance programs.
  • Politically Exposed Person (PEP), Sanctions, and Adverse Media Screening: We tailor search results to fit your screening requirements and risk appetite, reducing false positive results.
  • AML Document and Infrastructure Updates: We provide updates on AML policies, financial crime risk assessments, KYC checklists, and more.

Training Services

  • E-Learning Modules
  • Bespoke Financial Crime Training (In-Person or Remote)

At IQ-EQ, we understand the importance of KYC processes in safeguarding business relationships. Our team has extensive experience working with a lean workforce to provide seamless support to deal and legal teams efficiently.

Get in Touch Today

Contact us today to learn how we can help your Bermuda-based business thrive.