Know your customer with Penneo
Know your customer. It is now incumbent on law firms to ensure at the outset that their clients have identified themselves.You must know who the true owners of the customer’s company are, and you must also have evidence of their identity, which naturally has to be transferred in encrypted form.
Penneo is a powerful solution managing confidential information and document-heavy processes. This is an otherwise onerous administrative process that take up a good deal of time in legal practices. The Penneo system guides your customers through submitting information and documents via an encrypted connection.
You also need to carry out a risk assessment, and here the system will help by asking the relevant questions and carrying out an automatic PEP and sanctions list check on all true owners so that you can produce a well-informed and evidenced customer risk assessment.
This will make your law firm AML-compliant. We think Penneo is a powerful solution for medium-sized law firms.