
Kyc adalah proses yang digunakan oleh perusahaan untuk mengenal dan memahami pelanggan mereka. Kyc melibatkan pengumpulan data dan informasi tentang pelanggan, seperti identitas, alamat, dan aktivitas keuangan.
Tujuan utama kyc adalah untuk mengurangi risiko keuangan dan memastikan bahwa perusahaan tidak beroperasi dengan pelanggan yang tidak sah. Dengan kyc, perusahaan dapat memahami profil pelanggan mereka dan mengidentifikasi potensi risiko.
Kyc juga membantu perusahaan dalam mengembangkan strategi pemasaran yang lebih efektif. Dengan memahami profil pelanggan, perusahaan dapat menargetkan iklan dan promosi yang lebih relevan dan meningkatkan peluang penjualan.
What Is
KYC is a critical function to assess customer risk and a legal requirement to comply with Anti-Money Laundering (AML) laws. It's essential for financial institutions to know their customers to prevent money laundering and terrorist financing.
Effective KYC involves knowing a customer's identity, their financial activities, and the risk they pose. This includes understanding the nature of the customer's activities to ensure the source of their funds is legitimate.
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To establish customer identity, financial institutions must gather and verify information about their customers. This can be done through various methods, including customer identification programs and ongoing monitoring.
A KYC program requires several elements to be effective, including:
- Establishing customer identity
- Understanding the nature of the customer's activities
- Assessing money laundering risks associated with that customer
By following these steps, financial institutions can create a robust KYC program that protects their organization from fraud and losses resulting from illegal funds and transactions.
Manfaat Penerapan
Implementing KYC (Know Your Customer) processes is crucial for the security of financial institutions. It helps prevent and identify money laundering, terrorism financing, and other illegal corruption schemes.
KYC procedures involve ID card verification, face verification, document verification, and biometric verification. These measures help banks assess and monitor risks, ensuring their customers are real.
Banks must comply with KYC regulations and anti-money laundering regulations to limit fraud. Failure to comply can result in heavy penalties.
In the U.S., Europe, the Middle East, and the Asia Pacific, a cumulative USD26 billion in fines have been levied for non-compliance with AML, KYC, and sanctions fines over the past ten years (2008-2018).
Stricter KYC/CDD processes are helping to stop criminals from laundering between $1.6 to $4 trillion annually (2 to 5% of global GDP).
The benefits of implementing KYC include:
- Perusahaan atau institusi keuangan dapat mengenal nasabah dengan lebih mendalam.
- Mengawasi dan membantu memahami sifat dari aktivitas nasabah.
- Mengurangi risiko terjadinya money laundering.
- Memberikan keamanan dan perlindungan dari kerugian atas penipuan yang nasabah alami.
- Proses verifikasi identitas pelanggan lebih efektif, cepat dan hemat biaya.
KYC helps prevent and identify money laundering, terrorism financing, and other illegal corruption schemes, ultimately protecting banks and their customers from financial losses.
Requirements and Process
To comply with Know Your Customer (KYC) requirements, financial institutions must obtain essential information about their customers. This includes the Customer Identification Program (CIP), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD).
The Financial Industry Regulatory Authority (FINRA) Rule 2090 in the United States mandates that financial institutions use reasonable diligence to identify and retain the identity of every customer.
Financial institutions must collect all necessary information to know their customers, including their name, date of birth, address, and identification number.
To verify a customer's identity, financial institutions can use documents, non-documentary methods, or a combination of both.
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The Customer Due Diligence (CDD) process involves verifying the identity of a customer and assessing the risks associated with that customer. There are three levels of due diligence: Simplified Due Diligence (SDD), Basic Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD).
To conduct CDD, financial institutions must ascertain the identity and location of the potential customer and gain a good understanding of their business activities. They must also classify the customer's risk category and define what type of customer they are.
Here is a summary of the minimum requirements to open an individual financial account:
- Name
- Date of birth
- Address
- Identification number
To determine if Enhanced Due Diligence (EDD) is necessary, financial institutions must consider factors such as the customer's risk category, business activities, and potential for money laundering or terrorist funding.
Financial institutions must also maintain records of all the CDD and EDD performed on each customer, or potential customer, in case of a regulatory audit.
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Identification Methods
Identification Methods are crucial for KYC (Know Your Customer) compliance. Financial institutions must verify the identity of their customers to prevent identity theft and money laundering.
The Customer Identification Program (CIP) requires financial institutions to obtain four pieces of identifying information about a client, including name, date of birth, address, and identification number. This information is used to create a customer profile.
To verify the identity of a customer, financial institutions can use various methods, including digital verification and biometric checks. Digital verification involves verifying that an identity document is genuine through digital means, while biometric checks use facial or fingerprint recognition to authenticate the document holder.
A digital ID verification process enables banks to automatically capture customer demographic data, which can be integrated into enterprise systems like CRM. This streamlines the customer onboarding process and allows for further due diligence and risk assessment.
The minimum requirements to open an individual financial account are clearly delimited in the CIP: name, date of birth, address, and identification number. While gathering this information during account opening is sufficient, the institution must verify the identity of the account holder "within a reasonable time."
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Here are some common identity verification methods used by financial institutions:
- Documents, such as passports or driver's licenses
- Non-documentary methods, such as comparing information provided by the customer with consumer reporting agencies or public databases
- Biometric checks, such as facial or fingerprint recognition
The choice of identity verification method depends on the risk-based approach of the institution and may consider factors such as the types of accounts offered, the bank's methods of opening accounts, and the types of identifying information available.
Regulations and Compliance
Regulations and Compliance are crucial for KYC (Know Your Customer) to prevent illegal activities such as money laundering. In the United States, the Financial Crimes Enforcement Network (FinCEN) requires both customers and financial institutions to comply with KYC standards.
Financial institutions must understand the type and purpose of the customer relationship and develop a customer risk profile, used as a baseline for detecting suspicious customer activities. This is in line with the Australian Transaction Reports and Analysis Centre (AUSTRAC) in Australia, which monitors financial transactions and sets client identification requirements.
In various countries, regulations and compliance are enforced through laws and acts. For example, in Canada, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) updated its regulations in June 2016 regarding acceptable methods to determine the identity of individual clients. Similarly, in India, the Reserve Bank of India introduced KYC guidelines for banks in 2002.
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Here's a list of some countries and their respective regulations:
- Australia: AUSTRAC monitors financial transactions and sets client identification requirements.
- Canada: FINTRAC updated its regulations in June 2016 regarding acceptable methods to determine the identity of individual clients.
- India: Reserve Bank of India introduced KYC guidelines for banks in 2002.
- Italy: Banca d'Italia exercises regulation power for the financial industry and set KYC requirements for financial institutions in 2007.
- Japan: Act on identification of customers by financial institutions 2003.
- Mexico: The Federal Law for Prevention and Identification of Operations with Resources from Illicit Origin was promulgated in 2012.
- Namibia: Financial Intelligence Act, 2012 (Act No. 13 of 2012) was published as Government Notice 299 in Gazette 5096 of 14 December 2012.
- New Zealand: Updated KYC laws were enacted in late 2009 and entered into force in 2010.
- South Korea: Act on Reporting and Use of Certain Financial Transaction Information regulates due diligence in the country.
- United Arab Emirates: The Government Pronouncement Regulation No. (20) of 2018 On Anti Money Laundering and Battling the Supporting of Psychological warfare and Funding of Unlawful Bureau Choice No. (10) of 2019 Concerning the Carrying out Guideline of Pronouncement Regulation No.
- United Kingdom: The Money Laundering Regulations 2017 govern KYC in the UK.
Laws Around the World
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has been monitoring financial transactions in Australia since 1989.
In Canada, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is responsible for updating regulations to ensure compliance with AML and KYC regulations. A pending lawsuit is challenging the constitutionality of the new legislation.
The Reserve Bank of India introduced KYC guidelines for banks in 2002.
The Banca d'Italia exercises regulation power for the financial industry and set KYC requirements for financial institutions operating in Italy in 2007.
Japan has an Act on identification of customers by financial institutions that was enacted in 2003.
Mexico's "Federal Law for Prevention and Identification of Operations with Resources from Illicit Origin" was promulgated in 2012 and came into force in 2013.
Namibia's Financial Intelligence Act, 2012 (Act No. 13 of 2012) was published as Government Notice 299 in Gazette 5096 of 14 December 2012.
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In New Zealand, updated KYC laws were enacted in late 2009 and entered into force in 2010.
South Korea's Act on Reporting and Use of Certain Financial Transaction Information regulates due diligence in the country.
The United Arab Emirates' key guidelines for KYC are the Government Pronouncement Regulation No. (20) of 2018 On Anti Money Laundering and Battling the Supporting of Psychological warfare and Funding of Unlawful Bureau Choice No. (10) of 2019.
The United Kingdom's Money Laundering Regulations 2017 govern KYC in the UK, and many UK businesses use the guidance provided by the European Joint Money Laundering Steering Group along with the Financial Conduct Authority's 'Financial Crime: A guide for firms' as an aid to compliance.
Here's a list of countries with their corresponding regulations and dates:
- Australia: AUSTRAC, established in 1989
- Canada: FINTRAC, updated regulations in June 2016
- India: Reserve Bank of India, introduced KYC guidelines in 2002
- Italy: Banca d'Italia, set KYC requirements in 2007
- Japan: Act on identification of customers by financial institutions, enacted in 2003
- Mexico: "Federal Law for Prevention and Identification of Operations with Resources from Illicit Origin", promulgated in 2012
- Namibia: Financial Intelligence Act, 2012 (Act No. 13 of 2012)
- New Zealand: updated KYC laws, enacted in late 2009
- South Korea: Act on Reporting and Use of Certain Financial Transaction Information
- United Arab Emirates: Government Pronouncement Regulation No. (20) of 2018
- United Kingdom: Money Laundering Regulations 2017
Compliance
Compliance is a crucial aspect of financial regulations. It's what ensures that financial institutions and broker-dealers operate within the law and maintain the trust of their customers.
The U.S. Financial Crimes Enforcement Network (FinCEN) requires financial institutions to understand the type and purpose of the customer relationship and develop a customer risk profile. This profile is used as a baseline for detecting suspicious customer activities.
Financial institutions must also maintain current and accurate customer information. This includes knowing and keeping records on the profile of each customer, as well as identifying each person who has the authority to act on the customer's behalf.
FinCEN requires financial institutions to monitor accounts for suspicious and illegal activities. When detected, they are required to promptly report their findings.
FINRA Rule 2090 requires every broker-dealer to use reasonable diligence when opening and maintaining client accounts. This means having a thorough understanding of each customer's financial situation and needs.
A broker-dealer must have a reasonable basis to believe that a recommendation is suitable for a customer based on their financial situation and needs. This is ensured by completing a review of the current facts and profile of the customer, including their other securities and investments.
Frequently Asked Questions
Registrasi KYC untuk apa?
Registrasi KYC dilakukan untuk memverifikasi identitas pengguna dan memastikan keamanan akun SATUSEHAT Mobile. Dengan demikian, pengguna dapat menggunakan layanan dengan aman dan nyaman.
Sources
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