Manufacturing Anti-Money Laundering & Know Your Customer Software

KYC & AML Software for Manufacturing Companies

The manufacturing industry is one of the largest in the world. It has a global reach and plays a major role in import and export activities. Because of the tremendous reach of the manufacturing industry, it has also become a target for financial criminals including money launderers. In the manufacturing industry, money launderers will attempt to clean dirty money using large assets in the manufacturing industry. For this reason, it is critical for manufacturers to guard against this activity.

Truth Technologies is dedicated to guarding businesses, including manufacturers, against money launderers and financial criminals. We are one of the premier platforms for AML services. Please learn more about how we can help you and your business guard against money laundering in the manufacturing sector.

What is Money Laundering?

When people hear the term money laundering, they often think about large financial institutions that operate on Wall Street. Unfortunately, this is also a big problem in the manufacturing sector. There are a few ways that money laundering takes place in the field of manufacturing. These include:

In any money laundering deal, including manufacturing, the goal is to clean the money with legitimate manufactured goods. Manufacturers need to take steps to protect themselves against this activity.

Why the Manufacturing Sector

There are a few reasons why money laundering takes place in the manufacturing sector. Some of the biggest factors include:

Manufacturing is vulnerable to money laundering. Therefore, everyone needs to take steps to protect themselves.

Money Laundering Rules and Regulations in the Manufacturing Sector

Manufacturing companies need to make sure they remain in compliance with any rules and regulations in relevant jurisdiction’s. There are regulations regarding anti-money laundering measures that have been put into place by FINRA and the United States government. Some of the key examples are:

All manufacturing companies must comply with these regulations. If not, large fines and sanctions could be levied by FINRA and the US Government.

Red Flags for Money Laundering in Manufacturing

In manufacturing, there are a few red flags that could indicate the presence of illegal financial dealings, such as money laundering. A few examples include:

Fortunately, there are steps that manufacturers can take to protect themselves.

Know Your Customer (KYC) Policies in Manufacturing

Know Your Customer (KYC) is a key tool in the manufacturing sector. Because manufacturers regularly operate across national borders and boundaries, they need to know exactly who they’re dealing with. This helps them guard against illegal financial activities and manage their risk. Through KYC, manufacturers can collect all of the necessary information on a potential customer or business partner before entering into a relationship with that entity. Some of the important information that is collected via KYC include:

KYC is a key portion of anti-money laundering (AML) policies.

High-Quality AML Screening from Truth Technologies, Inc. (TTI)

When it comes to anti-money laundering (AML) surveillance and protection, Truth Technologies is among the leaders. With experts in AML, compliance, anti-fraud, and consumer verification, we can provide you and your business with key AML protection. Some of our benefits include:

Increase AML Protection with Truth Technologies Today

If you are interested in advanced KYC or AML protection for your manufacturing business, give us a call today. We also offer free tool demos that you can try. Put your faith in TTI to protect your manufacturing organization against financial crimes and money laundering.







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