Regulatory and compliance requirements are constantly evolving. Keeping up to date with these requirements, and more importantly keeping your client’s corporate entity information up to date has become increasingly important. ESC’s has the ability to provide clients customized solutions to ensure their goals are met.
Your organization may have a back file of records to validate or update to ensure compliance with Anti-Money Laundering (AML) / Know Your Customer (KYC) requirements, the Foreign Account Tax Compliance Act (FATCA) or possibly to Financial Action Task Force (FATF) policy recommendations.
Additionally and on a go forward basis, you may need to establish the industry classification of your clients by the North American Industry Classification System (NAICS), or ensure the fact that all your clients are operating legally active businesses within each respective provincial jurisdiction.
ESC gives you the flexibility!
- Over 20 data elements to build your custom compliance report
- Select types of entities to validate and which jurisdictions to search
- Add other ESC services for secondary proof of client existence
Subscribe to ESC Anti-Money Laundering Solutions and Save Money
- Optimize the use of reports by allowing accessibility across the enterprise ensuring data retrieval is used cost effectively by reducing the duplication of Client Identification and Verification across business units and product lines
- High volume retrieval engines automate the process of retrieving and reading registered client data from 13 different government jurisdictions electronically
- Using ESC’s systems that access government repositories directly, the COVR solution simplifies the amount of time spent retrieving, reviewing and structuring data consistently in a standard format regardless of entity type or location
- Effectively provide the necessary and fundamental information for verifying businesses across the Canada and internationally to front line staff
Client Due Diligence and Enhanced Verification
Client due diligence requires accurate client identification, verification, and confirmation of existence together with a collection of related information registered by the entity. Sourcing this information from a credible public database is not only efficient but also removes the cumbersome process of obtaining some of this information directly from your client. ESC can provide solutions either in a report format (COVR) or as stand-alone search offerings to assist you in your due diligence processes.
All ESC services can provide validation and information on the following types of entities:
- For-Profit Corporations
- Non-Profit Corporations
- Condominium Corporations
- Sole proprietorship’s
- First Nations
- Private Schools
What Information is Available?
- Business Legal Name
- Mailing Address
- Incorporation/Registration Number of Entity
- Business Number recorded with CRA
- Directors Names and Addresses
- Officers Names and Addresses
- Shareholder Information
- Owner Percentage
- Former Names
- Last Filing of the Corporation
- Business Activity
ESC’s Additional Services:
- Copies of Articles of Incorporation
- Copy of a Business Name Registration
- Corporate Profile Report
- Certificate of Status
- Existence Searches
- PPSA Searches and Registrations
- Bankruptcy Searches
- Litigation Searches
- Writs of Execution Searches
- International Entity Searches
For a detailed presentation on how ESC can support your credit-granting due diligence requirements contact Clare Fishwick at 416-204-3201 / firstname.lastname@example.org