UNSC list : Understanding the risks and consequences of Non compliance
The United Nations Security Council (UNSC) has established a list of individuals and entities that are subject to sanctions as part of its efforts to combat terrorism and other criminal activities. The UNSC uses the Know Your Customer (KYC) process to identify and track these individuals and entities by verifying the identities of customers and assessing the risk of doing business with them. This article explains the legal and financial risks of non-compliance with KYC regulations and provides steps that businesses can take to ensure compliance and prevent fraud.
