KYC (includes Video KYC)/ AML Audits
KYC (includes Video KYC)/ AML Audits
Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance are fundamental to strong financial sector governance and effective customer due diligence. In line with RBI regulations and global FATF standards, banks and NBFCs are required to maintain robust customer onboarding procedures, reliable identity verification mechanisms, and continuous monitoring of suspicious transactions.
Independent KYC/AML audits, including reviews of Video KYC processes, provide assurance that institutions are complying with regulatory requirements, minimizing fraud risks, and protecting their operations from money laundering and terrorist financing threats.
About This Service
Our KYC/AML audit services are structured to support financial institutions in strengthening compliance with RBI, SEBI, and international AML standards. We perform in-depth reviews of customer onboarding procedures, KYC documentation, and periodic updation processes to ensure regulatory alignment.
We also assess Video KYC frameworks to verify compliance with RBI requirements relating to customer identification, liveness verification, data security, and maintenance of audit trails. This helps ensure that digital onboarding processes remain secure, reliable, and compliant.
Our AML reviews focus on transaction monitoring systems, suspicious transaction/activity reporting (STR/SAR), threshold monitoring, and the effectiveness of internal escalation and reporting mechanisms. We evaluate whether institutions have adequate systems and controls to identify, monitor, and mitigate high-risk transactions.
Through independent assurance, we assist banks, NBFCs, and financial intermediaries in reducing regulatory exposure, avoiding penalties, and reinforcing a strong culture of compliance and integrity.
Key Features / Scope of Work
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Review of KYC onboarding processes, documentation, and periodic updates
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Evaluation of Video KYC processes for compliance with RBI requirements
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Testing the adequacy of identity verification, liveness checks, and data storage practices
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Assessment of AML frameworks, including transaction monitoring and STR/SAR filing
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Verification of compliance with RBI, SEBI, and FATF guidelines
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Review of customer risk categorization and enhanced due diligence procedures
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Gap analysis of internal policies against regulatory and supervisory expectations
- Specialized & Bank-Related Audits
- Concurrent Audits (Banks, NBFCs, Financial Institutions, Payment Banks)
- Retail Assets & Retail Liabilities Audit
- Treasury, Forex & Depositories Audits
- KYC (includes Video KYC)/ AML Audits
- Third Party Vendor Audits
- AR Due diligence
- Stock Audits (for Working Capital Financing)
- Revenue & Expense Audits
- Branch Statutory Audit (BSA) & Central Statutory Audit (CSA)
- Audit under RBI/NABARD/CAG Mandates
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