KYC Process at Genx Consultancy Services DMCC

Collection of Information:

• Personal and Business Details: Gathering essential details such as full name, address, date of birth, business registration, and trade license.
• Identity Documents: Obtaining copies of identity proof (e.g., Emirates ID, passport, driving license) and address proof (e.g., utility bills, bank statements).

Verification of Documents:

• Cross-Verification: Verifying the authenticity of provided documents through official channels.
• Background Checks: Conducting background checks to ensure there are no red flags or involvement in illegal activities.

Risk Assessment:

• Client Profiling: Profiling clients based on collected information and assigning risk levels.
• Enhanced Due Diligence: For high-risk clients, conducting enhanced due diligence to gather more detailed information and mitigate potential risks.

Continuous Monitoring:

• Ongoing Review: Regularly updating client information and conducting periodic reviews to ensure continued compliance.
• Transaction Monitoring: Monitoring client transactions for any suspicious or unusual activities.