Automating KYC Verification
Regulators require brokers to verify client identity before opening a trading account. A CRM with built-in KYC modules automates document verification: the system recognizes document types, extracts data via OCR, and checks against sanctions lists and PEP databases. The entire process takes 30 seconds to 5 minutes instead of 1-2 hours of manual processing.
AML monitoring operates continuously after verification. The system tracks suspicious transactions: unusually large deposits, frequent inter-account transfers, and transaction structuring to circumvent threshold values. Triggered alerts automatically notify compliance officers for review.
Document Storage and Audit Trail
The CRM ensures secure document storage with encryption and access controls. Every action on a document — viewing, status changes, additional data requests — is logged in an audit trail. This is critical during regulatory examinations and ensures full accountability across all compliance operations.
MakeTrades provides full compliance with CySEC, FCA, ASIC, and other regulators through its built-in compliance module.
