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Best Practice
Guide: The Path to
Perpetual KYC

Perpetual KYC is increasingly becoming a necessity for
organizations. Its benefits significantly outweigh any
challenges – both in terms of efficiency gains and the
effectiveness of mitigating risk.

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    The global spend on financial crime compliance at financial institutions reached US$213.9bn in 2021, an increase of nearly 16% on the previous year. The cost pressure that organizations face, along with other competing priorities, has meant that firms have not always prioritized investment in financial crime unless something has gone wrong.


    Traditionally, organizations perform KYC checks at onboarding, classifying clients into categories of risk – high, medium, low. Thereafter, client information is typically refreshed periodically, following a one, three, or five-year cycle. In contrast, perpetual KYC is the practice of maintaining accurate client data, through updates based on changes in clients’ behaviors and circumstances in near real-time. In contrast to cycles of remediation, perpetual KYC is a continuum.


    In this guide we explore how organizations can pave the path to perpetual KYC.



    Developing a sustainable perpetual KYC practice provides multiple benefits to organizations including:

    Effective Risk Management
    Operational Efficiencies
    Improved Customer Experience

    Intended Audience

    • Financial Crime Professionals
    • First Line KYC Analysts/ Managers
    • Transaction Monitoring Analysts/ Managers
    • Financial Crime Operations Leaders
    • Financial Crime Technology/ Change Leaders
    • Second Line Financial Crime Advisory/ Policy Leaders
    • Financial Crime Assurance Leaders
    • Auditors
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    Main Sectors

    • Financial Institutions
    • Non-Bank financial institutions including MSBs, PSPs
    • Regulated entities that perform KYC