KYC and KYB
Know your customer and know your business checks help establish who is acting and for which entity. Review registration records, business activity and signatory authority. Match names across the offer, contract and commercial instructions.
Ownership and control
Understanding the people who ultimately own or control a counterparty helps assess the relationship. Use reliable records and appropriate independent verification, rather than stopping at an intermediary holding company.
Sanctions and route review
Applicable restrictions depend on the parties, ownership, product, origin, vessels, banks and jurisdictions involved. Use current official lists and qualified advice for the specific transaction. A clean name search alone does not establish that an entire trade is permitted.
Commercial document checks
Check authority to sell, product evidence, origin, inspection records and the proposed physical route. Verify material documents with their issuer using independently sourced contact details. Record unresolved discrepancies and pause progression until they are addressed.
Information handling and escalation
Use controlled channels for personal and financial information, collect only what is necessary and limit access. Read the AML/KYC policy framework and compliance notice. A suspected impersonation should be checked through an independently verified contact.
Sources & further reading
Technical references support the definitions above. Consult the applicable standard and qualified advisers for transaction-specific decisions.