Financial Crime World

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Fighting Financial Crime in French Guiana: How Refinitiv’s Know Your Customer Procedures Can Help

As French Guiana continues to develop its financial sector, the need for robust anti-money laundering (AML) and counter-terrorist financing (CTF) measures has never been more pressing. For organizations operating in this region, conducting thorough Know Your Customer (KYC) procedures is crucial to mitigating the risk of financial crime.

The Importance of KYC Compliance

Conducting thorough KYC procedures helps organizations meet their due diligence obligations, including:

  • AML/CTF legislation
  • Anti-bribery and corruption customer and counterparty due diligence and screening

What is Know Your Customer (KYC)?

KYC is a process used to verify the identity of customers and understand their financial transactions. It involves collecting information about customers, such as their name, address, date of birth, and other relevant details.

Refinitiv’s Solutions for KYC Compliance

Refinitiv, a leading provider of financial data and analytics, offers a suite of solutions designed specifically for KYC compliance. Its World-Check One platform provides a comprehensive global screening solution that helps organizations meet their due diligence obligations.

Features of Refinitiv’s World-Check One Platform

  • Access to over 600 sanction, watch, regulatory, and law enforcement lists
  • Global Politically Exposed Persons (PEPs) and heightened risk individuals
  • International media searches
  • Multi-language search capabilities, including Traditional/Simplified Chinese
  • Audit trial and recordkeeping

Streamlining Compliance with Refinitiv’s Screening Resolution Service

Refinitiv’s Screening Resolution Service can conduct the screening and remediation process on behalf of organizations, maximizing resources and reducing compliance burden.

Enhanced Due Diligence Reports

Refinitiv’s Enhanced Due Diligence reports offer a structured approach to identification, checking, and verification of Ultimate Beneficial Owners (UBOs) of important third parties, ensuring up-to-date and auditable compliance.

Support for French Guiana

In French Guiana, where the FATF-recommended shareholder threshold is 25%, Refinitiv’s UBO reporting service helps organizations identify and screen UBOs against World-Check risk intelligence. The platform also offers multilingual capability, with research analysts located in offices across the globe.

Get Started with Refinitiv

For more information on how Refinitiv can help your organization navigate KYC procedures in French Guiana, please contact them at [insert contact details].