StartKYC is a partner firm of InScope-AML, allowing users to integrate enhanced screening of individuals and legal persons for Politically Exposed Persons (PEP) exposure, Sanction checks, Adverse media, Insolvency, and Disqualified directors further strengthening Client Due Diligence processes.
With over one million profiles, included PEP information covers individuals, PEP-related legal entities, and state-owned enterprises, and with over 10,000 sources, Global Adverse Media data includes any individual or entity that has been reported in global newspapers, news sites, or other media as being involved in a crime of any nature.
All sources for any relevant hit are saved in the system in a cached version to ensure users have constant access to all articles, conveniently saved in a pdf format, thus avoiding the frustration of dead links in the future.
How Does StartKYC Work
StartKYC offers a credit-based search wherein users can pre-buy credits, these credits are used in one of the two following ways (pricing information can be found here).
StartKYC operates in two ways, using one credit for each:
- Per-click (Instant search)
This method consumes 1 credit per click to perform an immediate search on the given profile information.
2. Monitor
This method, when integrated with InScope-AML, adds a tag to a profile which (using one credit) will monitor a client for new hits over the course of a year.
N.B The monitor tag may take 1-2 days to display any relevant hits, due to cutoff times for searches. If there are no relevant hits, this timeframe may be 3-4 days.
The frequency of alerts related to the Monitor Tag can be set to:
- Daily;
- Weekly;
- Monthly;
- Quarterly;
- Bi-Annually;
- Annually.
This frequency should be adjusted depending on how often users would like to receive alerts on new PEP and Adverse media hits on a client profile. This is not how often the client profile should be monitored.
StartKYC and InScope-AML
Please note that both options for use of StartKYC are available within InScope-AML, allowing for instant enhanced searches and enhanced ongoing monitoring, conveniently from the platform, in turn strengthening users’ overall AML regime even further.