Your challenges.
Regional development agencies invest public money in start-ups and SMEs. That calls for careful customer due diligence for every participation and every subsidy, even with many small files.
What we look at
Customer due diligence on entrepreneurs and UBOs before any money is paid out.
Many files, with the same quality for every file.
Sanctions and PEP screening and adverse media research.
The portfolio stays up to date for as long as the relationship lasts.
BlueMonks has taken over our entire KYC execution and ensures consistent, compliant and timely customer due diligence within our participation and subsidy portfolio.
Frequently asked questions
Why KYC at a regional development agency?
Regional development agencies are subject to the Dutch Anti-Money Laundering and Anti-Terrorist Financing Act (Wwft) for their financing activities. In addition, spending public money calls for demonstrable diligence.
Can BlueMonks take over the entire execution?
Yes. At LIOF, BlueMonks carries out the full customer due diligence within the participation and subsidy portfolio.
How do we keep the files up to date?
With periodic reviews and ongoing screening, so that changes become visible in time.