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A financial institution undertakes continuous monitoring of its clients’
transactions, but this will not always provide sufficient information on
the changing profile of a client. Unusual transaction patterns or suspect
sources/destinations of remittances may alert an institution, but any resulting
suspicions can be difficult to confirm. However…it is quite possible
that the background or context of such transactions is in the public domain. |
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Branches of the worldwide media will report any significant business developments
relating to a nominated individual or company. The development may be important
enough to be reported in the international or national press, on the other
hand it may not be reported outside the provincial press. |
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KYC offshore will provide clients subscribing to the monitoring service
with a monthly report of any matches which have occurred in some 15,000
publications which are monitored worldwide. |
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The utilisation of such a service would be a clear demonstration to regulators
and law enforcement agencies that the firm was fully complying with its
obligations. |
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