« Know your customer » or KYC

As part of the strengthening of legal norms and obligations to prevent risks related to money laundering, anti-corruption and terrorist financing, Cabinet Sanier assists you in the implementation of your compliance processes towards your customers and associates.

In accordance with the 4th European Anti-Money Laundering Directive, transposed in France since December 2, 2016 by Ordinance No. 2016-1635 of December 1, 2016, financial institutions, legal professions (bailiffs, lawyers …) bookkeepers (accountants, auditors, etc.) and many others, have a legal obligation to introduce a vigilance mechanism for their new or existing clientele since January 2010.

This system of “client knowledge” imposed on French and European companies aims to reduce the risk of money laundering and must make it possible to combat the financing of terrorism and corruption.

Targeted support

Specifically, it must make it possible to identify precisely the client, the beneficial owner of the funds, and to qualify beforehand the level of risk of money laundering by anticipating the action of unknown networks of influence, complex capitalist links and persons or companies malicious.

In case of doubt or risk of money laundering, corruption or terrorist financing, the system must provide for the interruption of operations (sales, transactions) and the reporting of qualified suspicions to the supervisory authority (Tracfin unit in France).

This is why the Sanier firm supports you in your search and identification of the beneficial owners of the transactions undertaken so as not to slow down or block the payment of a banking transaction vital to your business.