Argos KYC(EN)
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KYB Service Overview
Note. This page outlines the Argos KYB service.
Argos Know Your Business (KYB) service allows you to verify the identity and money laundering risk of the corporate entity you are dealing with.

1. KYB Process

Argos KYB service checks the identity of the KYB applicant, including the ultimate beneficial ownership information. Once verification is completed, AML screening will be conducted for KYB applicant and related natural entities to identify the risk of money laundering and terrorist financing.

2. What needs to be checked?

Corporations
Non-profit corporations and other organizations
  • Corporate name
  • The address and location of the head office and place of business
  • Business type
  • Contact info
  • Ultimate Beneficial Owner Check
  • Corporate name
  • The address and location of the head office and place of business
  • Purpose of establishment
  • Contact info
  • Ultimate Beneficial Owner Check
If the customer refuses to provide information you shall not trade with the customer, and if the relationship is already established, the existing transaction shall also be terminated.

3. Ultimate Beneficial Owner Check

  • The identity of the Ultimate Beneficial Owner(UBO) who ultimately controls the KYB applicant must be verified.
  • Ultimate Beneficial Owner(UBO) is identified in the order below. 1) A person who owns at least 25% of the shares of KYB applicant 2) If a person who owns more than 25% of the shares cannot be identified, identify the biggest investor, executives, etc., or one of the others who ultimately controls the corporation or organization. 3) If it is not possible to identify UBO according to 1) and 2), check identities of CEO of KYB applicant.

4. Anti Money Laundering Screening

Anti-money laundering screening process checks whether the KYB applicant matches with the person in the AML database. The AML screening result classifies each KYB applicant into different AML risk groups. Client companies may prevent money laundering by deciding who will be on-boarded immediately and who will be reviewed in detail. Argos AML database contains a variety of AML data, including the Global Sanctions List (SAN) and the Political Key Person (PEP) .
Last modified 2mo ago