Individual approach to security

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Money laundering prevention also affected currency exchange transactions. AML policy restricts the customer from exchanging large sums of money. A cash exchange terminal with a face recognition function will not allow one person to conduct a series of large transactions in a row. Therefore, the customer will have to visit a bank branch and provide additional documents.

The AML policy is aimed at gradually creating an infrastructure for exchanging information about certain individuals. This mainly concerns people on blacklists and politically exposed persons.

The reasons for a person being blacklisted may vary. The kuwait whatsapp data methods, accordingly, also depend on the status of the person. Recognition of the offender will result in immediate notification of the security service. In the case of servicing an unscrupulous borrower, a scenario of denial of service may be envisaged.

A special approach is also required for so-called politically exposed persons ( PEPs ). Persons holding significant political positions are at risk in the context of AML, as their activities require more careful control to prevent corruption. When integrating the solution with the client database, the bank can verify that the PEP person conducts transactions with their own money or funds obtained legally. A careful approach to working with such clients will allow the bank to respond immediately in the event of atypical financial transactions using their accounts.