Regulators across multiple jurisdictions have turned their attention to the Know Your Customer (KYC) and Customer Due Diligence (CDD) files of existing bank clients. Once in the crosshairs of a regulator, a bank needs to act quickly and decisively—often in the face of an imminent deadline.

Common mistakes banks make when initiating a remediation project include putting the burden on clients, recruiting expensive, untrained staff, trying to build a file with patchwork data, and relying on manual processes.

Download this best practices guide from Fourthline to learn how regulatory scrutiny can lead to better customer data and less fraud.