AML, KYC, CFT
An ever increasing number of types of businesses must take steps to develop and implement adequate and effective methods to prevent money laundering and other financial crimes.
Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) mean that you must adequately Know Your Customer (KYC) through due diligence.
As a part of due diligence, customers may be subject to Politically Exposed Persons (PEP) and sanctions screening.
Anti Bribery and Corruption (ABC) is a further extension of this compliance requirement.
The Payment Card Industry Data Security Standard (PCI-DSS) is an information and data security standard which affects all businesses which in one way or handle cards.
All businesses which accept payments through any of the major card schemes must be PCI-DSS compliant. There are different levels and scopes of PCI-DSS compliance, depending on how your handle the cardholder data.
Nicheknow can help you through the SAQ process and can guide you towards compliance.
We work with QSAs to conduct audits of sophisticated payment systems to receive full-scope PCI-DSS Level 1 compliance.
Protecting vulnerable people is an important responsibility for businesses engaged in regulated or higher-risk businesses such as trading, betting, or gaming.
As a licensed and regulated business, you have a duty to ensure that customers are protected and know what protection and complaints methods and procedures are available.
This daunting task doesn’t have to be daunting if you work with industry experts who can lead the way to an environment where your customers are safe.
Card scheme regulations constantly evolve to respond to changes in the market and the regulatory environment.
Staying on top of those changes and ensuring your business is compliant will save you from unwanted surprises.
Similar compliance requirements exist with other payment solutions and Nicheknow is happy to guide you towards long-term sustainability for payments processing.