Search results
Results from the WOW.Com Content Network
Know your customer (KYC) guidelines and regulations in financial services require professionals to verify the identity, suitability, and risks involved with maintaining a business relationship with a customer. The procedures fit within the broader scope of anti-money laundering (AML) and counter terrorism financing (CTF) regulations.
An identity verification service is used by businesses to ensure that users or customers provide information that is associated with the identity of a real person. The service may verify the authenticity of physical identity documents such as a driver's license, passport, or a nationally issued identity document through documentary verification.
Maker-checker (or Maker and Checker or 4-Eyes) is one of the central principles of authorization in the information systems of financial organizations. The principle of maker and checker means that for each transaction, there must be at least two individuals necessary for its completion.
You must immediately start monitoring your bank accounts, credit card statements and any other financial accounts for unusual or unauthorized activity in the wake of a data breach.
Help; Learn to edit; Community portal; Recent changes; Upload file; Special pages
The fit-and-proper-person test or director's test is a test aiming to prevent corrupt or untrustworthy people from serving on the board of certain organizations. First introduced in 2004 for owners and directors of major British football clubs, since November 2014 it also applies to the National Health Service in England for board members of NHS Trusts under the Health and Social Care Act 2008 ...
In bookkeeping, a bank reconciliation or Bank Reconciliation Statement (BRS) is the process by which the bank account balance in an entity’s books of account is reconciled to the balance reported by the financial institution in the most recent bank statement. Any difference between the two figures needs to be examined and, if appropriate ...
The duty of directors to produce a directors' report once a year is found in the Companies Act 2006 section 415. Under section 416, the contents must include the directors' names and the company's principal activities. The critical requirement is found in section 417(1). A business review must be carried out, though this is only for large ...