News and insights from Oomero
Company news, product updates and plain-English guides to AML and KYC.
AML and KYC, explained simply
What is KYC?
Know your customer: confirming that a customer is who they say they are before you do business with them.
What is KYB, and who is a UBO?
Know your business: verifying a company and finding the people who ultimately own or control it.
What is AML screening?
Checking the people and companies you deal with against sanctions lists, politically exposed persons and adverse media.
Who counts as a PEP?
A politically exposed person holds, or has held, a prominent public function. The rules usually reach their family and close associates too.
What is enhanced due diligence?
The deeper checks for higher-risk customers: PEPs, high-risk countries and unusual relationships.
What is transaction monitoring?
Watching customers’ payments after onboarding for activity that does not fit.
What is a risk-based approach?
Spending more effort on higher-risk customers and less on lower-risk ones, and being able to show why.
What is an Oomero ID?
A verified identity a person can reuse: verified once, then shared with another business with their approval.
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