Compliance

Dallas, Texas – GIACT Systems®, the leader in helping companies positively identify and authenticate customers, today announced the launch of Beneficial ID™ – a comprehensive digital platform built to directly address the Financial Crimes Enforcement Network (FinCEN), U.S. Department of the Treasury ruling requiring additional Customer Due Diligence (CDD) on financial institutions’ legal entity customers’ beneficial ownership. Beneficial ID is the first all-in-one digital solution to provide beneficial ownership information collection and KYC, OFAC verification.

GIACT Systems®, the leader in helping companies positively identify and authenticate customers, today announced the release of a report, Streamlining KYC: Best Practices in the Collection and Processing of Beneficial Owners, detailing compliance specifics and best practices around beneficial ownership.