AMLA21

The Anti-Money Laundering Act passed by the National Council on March 19, 2021 is expected to come into force in the fourth quarter of 2022. It includes the obligation of identity verification of beneficial owners and the periodical updating of customer details (KYC).

Solution Overview

With the revision of the Anti-Money Laundering Act, banks are facing new challenges. Comprehensive KYC information of customers must now not only be verified at the start of a business relationship, but also on a regular basis under a risk-based approach.

Avensic AG supports you in this process by implementing an automated risk classification of your customers and by implementing a process for renewing KYC information.

Avensic Service

• Analysis and solution design

• Implementation of risk classification in Avaloq

• Implementation of the KYC questionnaire

• Hand-over and documentation for operation

• Set up of automated test cases

Solution Elements

• Automatic classification of risk

• Questionnaire to verify KYC information

• Process for surveying customers