In order to prevent the risk of money laundering in Canada, all Canadian financial institutions are now required to comply with the “Know Your Client (KYC) regulations. These regulations require that every time a new account is opened for a client or new product is sold, and also in any other transaction where regular due diligence is required, financial institutions are to ask for and verify their clients’ identification, a copy of which is to be kept on file and up-to-date. This can be tedious.
We at ESC Corporate Services make your life easier by offering easy-to-access solutions which make compliance with KYC regulations effortless.
ESC provides Know Your Client services to commercial, financial and legal industries. Our online eService Platform provides easy access to full range of KYC related searches and registrations. Our services are secure, reliable and fast. Results are returned in a convenient PDF format and can be accessed at anytime from anywhere.
Read our later post for Guidelines on how to filfil the KYC requirements in your law firm.