Compliance and KYC

Compliance in the Wirtschafts-Compass

The Compliance section in the Wirtschafts-Compass is a convenient service to support your compliance management and the implementation of KYC processes. Know Your Customer is increasingly taking center stage - especially with regard to compliance with legal requirements to prevent money laundering and ensure transparent business relationships.

The Wirtschafts-Compass provides a quick insight into companies and individuals and their backgrounds as a valuable basis for your compliance checks.

Which audit categories are covered?

The screening includes sanctions, beneficial owners insolvency, front companies, links to Russia and overdue financial statements. Political exposed persons (PEPs) are also recorded. Additional information is available for hits - for example on sanctions or insolvency proceedings.

International person queries are possible via the PEP-Checker. The international sanctions lists are processed on a daily basis and displayed including all relevant details.

NEW: The Compliance Multi-Screening

The Compliance Multi-Screening is your solution for an efficient and automated compliance check that allows several companies and persons to be checked simultaneously for KYC-relevant criteria.

Choose between an interval screening (regular automated compliance check) or an immediate screening (one-off, quick check). With just a few clicks, you get a clear overview of your screened customer list and can fulfill your screening obligations flexibly and quickly.

Advantages of the Multi-Screening

• Check up to 500 persons and companies simultaneously
• Risk classification at a glance: non-critical, critical, PEP
• Significant minimization of manual audits through automation
• Flexible interval selection: monthly, quarterly, annually or every two years

The Compliance Detail-Screening

The Compliance Detail-Screening enables an in-depth individual check of companies and individuals based on relevant KYC criteria. It provides a comprehensive analysis that is an indispensable tool, particularly in critical cases such as politically exposed persons (PEPs) or conspicuous companies.

You receive a structured, up-to-date report with all relevant compliance information - ideal for reliably and legally compliant fulfillment of statutory audit obligations and for being audit-ready at all times.

Advantages of the Detail-Screening

• Ideal for targeted screening in the event of suspicious circumstances
• Further detailed information on critical hits, PEPs, etc.
• Shareholdings, executive bodies, etc. are checked and reported individually
• Detailed report for internal documentation & audit evidence