Tijssen

Find out how we helped Tijssen

          “With Graydon’s Customer Due Diligence solution we now have more time for our customers”

           Ben Hubbers

Request put to Graydon

Hubbers: ‘A few months ago we received a mailing from the SRA (an association of 370 independent accountants) in which they mentioned the possibility to meet requirements in the Anti-Money Laundering and Anti-Terrorist Financing Act (WWFT) using Graydon. This act requires companies to screen clients uniformly, whereby ultimately beneficial owners (UBO) are to be identified and monitored on sanction and country lists, PEP lists, control lists and for negative publicity. Until now we did this ourselves using for example the Chamber of Commerce, local media and Google. This however was very time consuming and it was not always clear whether the information was sufficient. That is why we were interested at the time in what Graydon had to offer.’

The challenge:

  • Make UBOs transparent
  • Assess risk

How does Graydon help?

‘To start with Graydon screened all our customers; a socalled zero-rating. Then they checked whether all UBOs had been identified or whether there were any cases of Customer Due Diligence. The compliance checks carried out by Graydon formed part of this: the PEP check, sanction lists and negative media. We were then issued with a report. Fortunately all our customers were considered to be in the ‘low risk’ category. We then agreed to carry out the same exercise for each new client. With our annual client monitoring this satisfies the requirements of the WWFT legislation.’

The solutions:

  • Graydon Customer Due Diligence consisting of the UBO search and compliance check
  • Monitoring

Results

‘Graydon takes all client screening off our hands, which means that we can work more efficiently and concentrate entirely on the customer. Furthermore we feel good that the tools and methods provided by Graydon allow us to meet the WWTF efficiently and in a uniform manner.’

The results:

  • More efficient focus on our activities
  • More time to concentrate on the customer
  • Able to meet the WWFT regulations
  • Uniform screening method

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Download the customer case