KYB Service Overview

Know Your Business: Build Trust with your business partner

Argos Know Your Business (KYB) service allows you to verify the identity and money laundering risk of the corporate entity you are dealing with. Easier and more cost-effective way to know your partner, vendor, or trader. Minimize your risk with Argos Know Your Business (KYB) service.

How does it work?

STEP 01: Insert KYC Page Link to your service page or application
STEP 02: KYC applicant submit KYB document via KYB service page
STEP 03: Get corporate AML report along with screening result from Argos KYB Dashboard
KYB Dashboard
KYB Submission Page

Scope of Argos KYB service

a. Identification of KYB corporate applicantโ€™s Ultimate Beneficial Owners (UBOs) b. Understanding the structure of KYB corporate applicant c. KYB submission page service d. Corporate AML screening e. Argos handles the entire communication with KYB applicants

Anti Money Laundering: Watch List Screening

Argos AML Screening delivers relevant, timely and accurate AML & CFT data from credible sources. We enable our clients to prevent money laundering and terrorist financing through their channels.

Why do I need AML screening?

1. Compliance with international AML standards

  • Following international AML standards set by FATF, it is becoming increasingly important to comply with anti-money laundering laws and to determine money laundering and terrorist financing risks prior to establishing business relationship.
  • Argos AML database includes global sanctions lists, and information on global politically exposed persons(PEPs) and their associates.
  • Our database also includes reputational risk and adverse media coverage.

Why Argos AML Screening?

โ€‹
๐ŸŒŽ
Most up-to-date global AML database
โ€‹
โฒ
Get real-time AML reports on risk profiles
โ€‹
๐Ÿคน
Argos AML screening supports multiple languages
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).