Know Your Business (or KYB) is a due diligence procedure aimed at establishing the structure, ownership, purpose and activities of a given company.
The Sumsub KYB solution is aiming to help customers to verify counterparties, reduce risks of working with fraudsters, and save from getting fines from regulators.
KYB verification measures are key components of Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) regulations. They are also legally required by the Financial Action Task Force (FATF), regional regulations such as the 5th and 6th EU AML directives, and various national AML laws.
Verifying business in-house or having several KYC and KYB services can be a burden. Delegate all compliance tasks to Sumsub and get them done 70% faster. We automate the most complicated steps to get you results in hours instead of weeks. Cut costs and scale globally with full compliance using Sumsub’s KYB solution.
Updated 5 days ago