What is a customer identification program? (U.S.)

(CIP) requirements govern financial institutions’ “reasonable” procedures to gather and maintain customers’ identity information and run watchlist checks on them.

What is FINTRAC? (Canada)

In Canada, regulated companies report to the Financial Transactions and Reports Analysis Centre of Canada. FINTRAC reporting obligations specify acceptable identity verification methods for people and business entities.

What is the FCA? (U.K.)

The Financial Conduct Authority (FCA) is the U.K. regulator for financial services firms and financial markets. KYC requirements in the U.K. include identifying and verifying a customer’s identity and assessing the purpose of the business relationship.

Regulated entities in the EU must comply with the 6th Anti-Money Laundering Directive (6AMLD), which includes requirements for the collection, verification and storage of personally identifiable information (PII). The directive also establishes requirements for screening customers against sanctions lists, politically exposed person (PEP) lists and adverse news to assess risk.

What is CySEC? (Cyprus)

The Cyprus Securities and Exchange Commission (CySEC) is the regulatory agency supervising the investment services market. As an EU member state, Cyprus follows the requirements for 6AMLD and other EU identity verification obligations.

What is MAS? (Singapore)

The Monetary Authority of Singapore (MAS) supervises the regulatory guidelines for KYC. Under the National Digital Identity (NDI) program, Myinfo is a service that provides verified personal and corporate data and is “a reliable and independent source for the purposes of verifying the customer’s name, unique identification number, date of birth, nationality and residential address.”

What are the KYC requirements in China?

In China, KYC regulations are covered by the Administrative Measures for Financial Institutions on Customer Due Diligence Investigations and Keeping of Customer Identity Information and Transaction Records.

Regulatory Compliance

Compliance Decisions Backed by Clear Evidence

Screen, verify, assess, and monitor people and businesses across the customer lifecycle. Trulioo combines global identity and business intelligence with fraud signals and watchlist screening, giving teams clearer evidence to apply policies, investigate exceptions, and document decisions.

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Support Compliance Across the Customer Lifecycle

Screen for Early Risk

Evaluate digital identity, device, network, and behavioral signals during onboarding and later interactions. Run additional screening or verification when your rules call for it, such as when a transaction exceeds a defined threshold or linked bank details change.

Verify Identity and Ownership

Verify people using authoritative data, identity documents, and biometrics. For businesses, draw on registries, filings, corporate and commercial records, entity disclosures, proprietary data, and open-source intelligence to identify the people who own or control them.

Apply Your Risk Policies

Use verification results, risk scores, and supporting details to route cases and determine when additional review or evidence is required.

Monitor for Change

Identify relevant changes in watchlist status, business information, device activity, and customer behavior after onboarding.

KYC, KYB, and AML Capabilities

Strengthen KYC, KYB and AML programs with identity and business verification, fraud signals and watchlist screening in configurable workflows backed by more than 450 global and local data sources.

Verify People for KYC

Combine identity data, documents, biometrics, supported digital IDs, and fraud signals based on your market and risk requirements.

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Verify Business and Owners

Confirm business information, identify ultimate beneficial owners, and verify the people who own or control the company.

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Screen and Monitor Financial-Crime Risk

Screen people and businesses against more than 6,000 global watchlists and more than 20,000 adverse-media sources for sanctions exposure, politically exposed person status, and other relevant risks. Continue monitoring for new or changed matches throughout the relationship.

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Review and Document Results

Use verification details, supporting information, and audit trails to investigate results and record your decisions.

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Compliance Across Industries

Financial Services

Support customer and business verification with KYC, KYB, fraud, and AML checks configured for your risk policies.

Payments

Verify customers and merchants while adapting checks to different markets and payment risks.

Banking

Connect customer identification, business verification, ownership checks, and AML screening.

Marketplaces

Verify customers and sellers, screen for relevant risks, and respond to changing marketplace requirements.

Remittance

Configure data and document verification for customers sending money across markets.

Cryptocurrency

Verify people and businesses while screening for fraud, sanctions, and financial-crime risk.

Why Trulioo?

Global Data with Local Context

Match verification sources and methods to country-specific data, documents, and requirements.

Results Your Team Can Examine

Use detailed results, model scores, supporting information, and audit trails to understand what informed a result.

Coverage Beyond Onboarding

Apply identity, fraud, and watchlist signals during onboarding, then monitor for relevant changes throughout the relationship.

Compliance in Practice

See how organizations use Trulioo to support compliance while verifying and monitoring customers and businesses around the world.

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Regulatory Compliance Resources

Find practical guidance on KYC, KYB, AML, customer due diligence, and ongoing monitoring.

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Frequently Asked Questions

Identity verification returns results your team can use to evaluate identity information, assess risk, and perform due diligence. Your team determines its obligations and makes the final compliance decision.

KYC focuses on people, while KYB focuses on businesses and the individuals who own or control them. Both can support due diligence, screening, and monitoring for relevant changes within a broader AML program.

A risk-based approach adjusts due diligence to the risk presented by a customer, business, transaction, or market using criteria, thresholds, and actions aligned with your team’s risk appetite.

Customer information, business ownership, watchlist exposure, and behavior can change after onboarding. Monitoring can surface changes that may require review.

A common integration can support different data sources, fields, documents, and verification methods by country. Each organization remains responsible for determining its obligations in every market.

Strengthen Your Compliance Decisions

See how Trulioo identity and risk intelligence can support your KYC, KYB, and AML program.

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