Section 326 of the USA PATRIOT Act requires financial institutions to establish standards to verify the identity of their customers.  Institutions are required to verify the identity of customers at account opening, risk rate each customer based upon defined standards, perform enhanced due diligence on higher risk customers, and monitor transactions against customer risk profiles.  Regulators have imposed severe penalties on institutions for customer identification, verification, risk scoring, and enhanced due diligence deficiencies. 

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How Pinnacle Can Help

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Whether you are conducting a remediation of KYC files due to a regulatory enforcement action, onboarding and risk rating new customers as part of a merger, undertaking routine file maintenance, or performing enhanced due diligence on your high risk clients, Pinnacle’s team of investigators can conduct reviews which include updating data contained in customer files, identification of potential red flags, and performing analysis to determine appropriate risk ratings.  Our highly skilled team can tackle large volume projects enabling you to meet regulatory and internal deadlines without sacrificing quality.​

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Our KYC & Customer Due Diligence Services Include:

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• CIP/KYC File Assessments & Remediation
• Customer Risk Ranking Reviews
• Customer Risk Assessments
• Enhanced Due Diligence (EDD) for High Risk Customers
• Beneficial Ownership Investigations​