Encompass Partners with Wisers for Asia KYC Data
Local regulators encourage use of technology to streamline KYC and regulatory compliance.
As regulators in Europe and the US continue to enhance anti-money laundering (AML) regulations, Encompass reports that financial institutions operating in Asia-Pacific are ramping up their own AML controls to ensure full compliance.
Some of these procedures include the requirement for more in-depth KYC information when onboarding new customers, and for that information to be updated more frequently.
Paul Charmatz, managing director at Encompass, says that apart from international
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