CDD
FILE REMEDIATION ACTIONS

Today, most organizations are struggling
to level up their Customer Due Diligence (CDD) files
and to keep them at that level.
To ensure that they continue to meet the
ongoing changes and updated requirements of
both local and international regulators and supervisors.

In some cases, it may be necessary to improve the quality of
files within a specific time frame,
for example, based on audit findings and/or enforcement
by supervisors. This process is known as
CDD File Remediation which requires certain experience and skills,
required to achieve a satisfactory result.

CDD
FILE REMEDIATION ACTIONS

Today, most organizations are struggling

to level up their Customer Due Diligence (CDD) filings

and to keep them.

To ensure they are still compliant

continuing changes and updated requirements of

both local and international regulators and supervisors.

In some cases, the quality of

the files within a certain time frame,

for example, based on audit findings and/or enforcement

by supervisors. This process is known as

CDD File Remediation requiring certain experience and skills

are required to achieve a satisfactory result.

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KYC FILE REMEDIATION DETAILS

As part of the KYC file remediation process, BlueMonks specialists will collaborate with the organization's stakeholders to remove conflicting data, organize the existing information, identify and supplement any gaps in information and documentation, ultimately enabling the determination of customer risk and compliance with laws and regulations.

The ultimate goal within this process is to enhance execution in the business-as-usual (BAU) environment, thereby preventing future issues and/or gaps.

WHAT CAN BLUEMONKS DO FOR YOU?

BlueMonks can assist your organization in upgrading your KYC files to an agreed-upon standard. This standard is established in collaboration with both the organization and relevant regulatory authorities. To achieve a satisfactory outcome for all stakeholders, the remediation programs supported by BlueMonks may include the following expertise:

Interim management tasks
Project management tasks
Senior, mid-level, and junior KYC analysts (available on a project basis or for long-term commitments)
Quality assurance (to confirm the quality of existing files or ongoing remediation programs)
Training and development for existing staff.

Interested in scheduling a meeting? Please contact us!

Expertise

BlueMonks has a team of experts specialising in financial and economic crime, with years of experience in identifying, mitigating and managing such risks.

Tailor-made solutions

BlueMonks offers tailor-made solutions tailored to each customer's specific needs, rather than a one-size-fits-all approach.

Innovative technologies

BlueMonks uses innovative technologies, such as artificial intelligence and machine learning, to identify and prevent financial and economic crime.

Regulatory compliance

BlueMonks has a deep understanding of the complex regulatory landscape surrounding financial and economic crime and we ensure that our clients are fully compliant with relevant laws and regulations.

Reputation

BlueMonks has a strong reputation in the industry for providing high-quality, reliable services and solutions to our customers.

Confidentiality

BlueMonks understands the importance of confidentiality and privacy when dealing with financial and economic crime challenges, and we take all necessary measures to protect our customers' sensitive information.

Cost-saving

BlueMonks provides cost-effective solutions to our clients, enabling them to manage their financial and economic crime risks and keep costs manageable.

Proactive approach

BlueMonks BV takes a proactive rather than reactive approach to financial and economic crime, allowing our clients to identify and mitigate risks before they become a problem.

HOW DOES IT WORK?

1

Schedule a free, no-obligation consultation.

2

During the online conversation, we discuss the options.

3

Choose the service that suits you.

GET IN TOUCH

Interested in what BlueMonks could do for you in terms of unburdening your AML/KYC/FEC process?

CDD FILE REMEDIATION ACTIONS