Know Your Customer (KYC) and due diligence for Russia

If you:

• You are implementing Know Your Customer (KYC) and due diligence for Russian Entities

• You have already have an in-house data analytical tool but not especially for Russia

• You understand that identifying exposure to sanctions risk requires far more than scraping a list

How to illuminate and expose obfuscated and illicit activities of bad actors?

If you are:

• A Cryptocurrency exchange or Financial institution with Russian clients

• A Biotech and pharmaceutical company, logistics provider, manufacturer working with Russia

• OFAC and AML lawyer, Export control adviser

You have to implement Geographic Focus: country or region-specific ‘deep dives’ for financial, logistics, or supply hubs companies, the identification of customers using in-house data analytical tool from the country you are working with

In our verification methodology we proceed from the following reasons:

• American screening tools cannot be updated and completed with data like Russian in-house data analytical tool

• Therefore, it is necessary to use a combination of these two resources, at least at the review level with «red flags»

• The verification of the legality of passports, on-site verification at the address of the audited company, in-depth analysis of affiliation, monitoring of changes made to the state register, etc. can be checked exclusively by the Russian resource

Know-your-customer and due-diligence practices for Russia

If there is a red flag indicator you can order an on-site inspection of the Russian entity, physically accessing a company's site

• The report contains the following information:

• Availability of a property with photographic fixation

• Availability of signs and plates

• The presence of staff, management and customers

• Availability of technical means and other facilities necessary for conducting business and executing contracts.

• Other available documentary evidence of the location of the organization at the specified address

• The results of conversations with those present at the exit address to obtain information about the presence or absence of signs of activity

Know-your-customer and due-diligence practices for Russia

If there is a red flag indicator you can check the Russian passport of your client for validity

The range of KONTUR's softwares check documents against the data of invalid Russian passports of the Ministry of Internal Affairs of the Russian Federation.

This list includes the following passports:

• lost;

• abducted;

• issued on lost or stolen forms;

• issued in violation of the established procedure;

• invalidated.

Any questions?

Sanctionsadviser.com - official integrator of the range of KONTUR's softwares

Supporting The U.S. companies in export to Russia & CIS markets

Planning and Strategy for entry or expansion.

Due diligence of existing or potential partners in the region with a sanctions risk overlay