Know Your Customer Batch (KYC-Batch)
D&B’s database already contains information on ownership and group affiliation for 140 million companies in the world. A number of new sources are now being added to this to supply the information required under the Third Directive.
This is information from various financial supervisory authorities, listed companies and a large number of sanction lists for which the CIA, among others, is an important source of information. D&B compiles information from our own databases and all other lists and supplies solutions that are specially designed to allow the financial institutions to meet the requirements of the Third Directive.
We call one of our specially designed solutions “Know Your Customer Batch”. This involves D&B supplying data at specific intervals containing the information required to meet the requirements of the Third Directive. We currently perform compliance checks on companies in around 100 countries but our aim is to increase the number of countries continuously.
The information in KYC-Batch is retrieved from our Enterprise Risk & Compliance Database and KYC provides the following information:
- Necessary identification to make it possible to know who you are doing business with. Global group structure.
- Information on management and financial data, where available.
- Checks against a number of sanction lists throughout the world. These lists may come from governments, intelligence services, the UN, the EU and several other bodies.
- Checks with various supervisory authorities throughout the world, for example the Swedish Financial Supervisory Authority.
- Checks against stock exchanges throughout the world.