Criminals favour high value goods not only because they bestow luxury and convey status but because they are an effective store of value that can be used to facilitate further wrongdoing through their sale of transfer. Jewellery, cars, yachts, private jets, art and even wine are exploitable rendering dealers in such high value goods including retailers, auctioneers and brokers vulnerable to criminal abuse.
As the vulnerabilities of dealers in high value goods have come into sharper focus the heat has turned on them to demonstrate more effective compliance with AML and KYC obligations. At KYC360 we understand the unique challenges faced by dealers in high value goods in a highly competitive market where the costs of compliance can be a significant drag on the profitability of customer relationships and compliance inefficiencies can delay transactional activity and lead to poor customer experience.
An in-depth look into the issue to help you to identify weaknesses in your existing compliance framework
Compliance process transformation
Replace manual, error-prone compliance tasks at onboarding and throughout the client lifecycle with automated, risk-based and flexible solutions that allow you to accelerate your time to revenue and customer time to service without compromising compliance assurance.
Meet regulator expectations fast
We leverage the lessons of over thirty years of compliance experience in the legal profession and financial services industry to help firms accelerate their ability to comply with new and rapidly evolving regulatory standards.
Outstanding client experience
Achieve a competitive advantage by complying with award-winning technology that delivers a first-rate client experience.
Ease of integration
Ease of integration with your existing systems is vital to rapid ROI. Our no-code solutions can be configured, integrated and deployed either on-premise or with two-way RESTful API solutions to best suit your requirements in multi-tenanted or private cloud infrastructures.
Geographically diverse customer relationships
You will engage with a diverse range of individual and corporate clients across many countries including many high risk jurisdictions. Conducting proper due diligence on the customers and the source of funds/wealth requires advanced screening technologies that can analyse client data, monitor adverse media and identify potential risks effectively.
Need for speed
The nature of dealings in high value goods is such that you will often need to complete your KYC checks rapidly to avoid frustrating sales or charters. Advanced screening technologies can help you facilitate transactions quickly without compromising on compliance assurance thereby allowing you to maintain your professional integrity and reputation.
Integration with practice management systems
Efficient integration with practice management systems is vital for your business to streamline KYC, screening, and onboarding processes. Seamless data flow between systems, such as client relationship management (CRM), document management and billing systems, can optimise workflows, enhance collaboration and improve overall operational efficiency.