Bolder Group Guide Preview 

Know-Your-Customer Framework

March 2025 | Bolder Group Team  

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This article is a preview of Bolder Group’s KYC (Know Your Customer) design. It provides an overview of the scope, process and general requirements, emphasising why this design could be an effective program for your own business.  

Please note that this guide is for general informational purposes only.  It is not intended to provide the reader with legal, tax or financial advice. Consult with a professional before making any decision.  

 

Guide: Designing Your KYC Program

GFX - HOW TO KNOW-YOUR-CUSTOMER THE BOLDER WAY
Annually, between USD 800 billion and USD 2 trillion (2-5% of the global GDP) is laundered globally, according to estimates by the United Nations Office on Drugs and Crime as of 2020. In our interconnected world, the global economy confronts major challenges from illegal activities such as money laundering, terrorism financing, predicate crimes and proliferation financing. These activities not only threaten the stability of financial sectors but also hinder social progress and impede global business growth.
  
Entities that may be involved or complicit in such illicit activities face risks that include reputational damage, significant fines, legal consequences or business closure. In shielding a company from these risks, entities must establish a robust know-your-customer (KYC) program to systematically and accurately verify customer identities and evaluate risks. 
 

What are the elements of Bolder’s KYC design? 

 
Compliance is at the core of the Bolder Group workflow, and that is why our compliance professionals have designed a KYC program that eliminates non-compliance risks and threats to a company’s reputation and sustainability. 
 
In general, our KYC program requires careful analysis of basic and additional information about customers to understand their activities, sources of funds and potential risks that may be associated with them. KYC programs also cover the assessment of the purpose and nature of the business relationship. The Bolder KYC program includes:
 
Bolder KYC Design - GFX
By incorporating these processes based on Bolder design, organisations can establish a robust and effective KYC program that mitigates risks associated with money laundering, fraud and other illicit financial activities while maintaining regulatory compliance and protecting the entity’s reputation. 
 
For more information about our KYC program for businesses, please download our guide.

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Disclaimer: Bolder Group does not provide financial, tax or legal advice and the information contained herein is meant for general information purposes only. We strongly recommend that before acting on any of the information contained herein, readers should consult with their professional advisers. The Bolder Group accepts no liability for any errors or omissions in the information, or the consequences resulting from any action taken by a reader based on the information provided herein.
Bolder Group refers to the global network of independent subsidiaries of Bolder Group Holding BV. Bolder Group Holding BV provides no client services. Such services are provided solely by the independent companies within the Bolder Group which are each legally distinct and separate entities and have no authority (actual, apparent, implied or otherwise) to obligate or bind Bolder Group Holding BV in any manner whatsoever. The operations of the Bolder Group are conducted independently and have no affiliation with third party financial, tax or legal advisory firms or corporations.  

About Bolder Group

Bolder Group is a result of the merger between legacy companies AMS Financial Group and Circle Partners. Bolder has been providing clients globally with governance, corporate, funds and family wealth solutions for over 45 years. The firm is independent and privately owned. Bolder is present in 18 countries across Asia, EMEA and the Americas. 

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