Press Release

TMF Group introduces full suite of Know Your Customer (KYC) compliance services

11 September 2017

TMF Group, a leading provider of global business services, has launched its full suite of Know Your Customer (“KYC”) compliance services, and can now offer a complete solution for compliance around the world.

KYC refers to the due diligence businesses must now carry out on a client, to verify that they are who they say they are - and to prevent theft, fraud, money laundering and terrorist financing.

The standards have developed globally in response to the effects of terrorism, large scale fraud and money laundering. They have even become a legal requirement in some jurisdictions, and have forced businesses to take a hard look at their operations and the relationships that they foster, to proactively manage their risk exposure.

With an increasing amount of fast-changing local regulations, as well as technology developments to deal with - including the threat of cyber security, data protection needs, blockchain and cryptocurrencies - looming large, KYC services can provide businesses with peace of mind.

Using internal expertise coupled with recognised search tools, TMF Group can provide an assessment on the origin of funds, financial situation, businesses and reputational insights in relation to the companies that you work with. The service involves in-depth background checks and corporate structure analysis, periodic reassessment and updating, and checks in local languages, resulting in fast, reliable due diligence wherever you're operating.

While TMF Group had provided KYC services in the past, this is the first time its full suite of services have been made available to clients.

Steffen Ruigrok, Director of Investor Compliance & Regulatory Services, says: “Compliance is important to uphold and protect a firm’s reputation and to avoid regulatory fines, so the need for KYC services is clear. However, managing regulatory reporting and compliance takes considerable time and effort - time that companies could be spending on growing and operating their business. “

“The use of software and search data base tools that automate compliance activities can provide risk management benefits, but you do still need that human oversight to ensure smooth running and quick identification of issues. Our KYC services can provide that oversight and peace of mind to multinational companies, helping them to remain compliant and protect their global reputation.”


For further information, please contact: Linda Negron, Communications Executive at TMF Group:

About TMF Group

TMF Group helps global companies expand and invest seamlessly across international borders. Its expert accountants and legal, HR and payroll professionals are located around the world, helping clients to operate their corporate structures, finance vehicles and investments in different locations. With operations in 84 countries providing global business services, TMF Group is the global expert that understands local needs.

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