Doing what is right
Money-laundering practices. Fraud. Financing terrorism. Unfortunately, all of these happen all too frequently. Discover why and how ING combats these, and how we screen our customers and continue to monitor them. At ING we call that Know Your Customer.
Know Your Customer is one of our highest priorities. Why? It’s only obvious. If we know exactly with whom we are doing business, we are not only protecting ING but society as a whole.
Know Your Customer: what and why?
As a financial institution, we have a statutory obligation to be safe and compliant. This means that we only do business with customers who are acceptable. To ourselves, the supervisory authorities and society. And this is how it should be.
Thanks to our worldwide Know Your Customer programme we keep abreast of all the latest statutory developments. These are constantly changing. On top of that, we support all initiatives that improve the provision of information, reporting and monitoring.
Our Top 5 priorities
Culture and mindset
It goes without saying that everything starts with awareness. Throughout the organisation. This is why we are launching numerous communication and awareness-raising initiatives.
Policy and risks
How are our inspections carried out? Are there any procedures that should be revised? Is our policy sufficiently adapted to the current situation? How do we apply global agreements in Belgium?
Governance
Our Client Services division plays a key role in this. Therefore, it is important that we share knowledge with them and train the staff well. And support their work with efficient processes.
Monitoring and screening
Our ultimate goal: to retain all customer and transaction data in one central place. From here, it is easy to perform monitoring and screening activities with automatic tools.
Workflow management
Onboarding customers, reviews, exit procedures: we aim to manage all of these efficiently and in a customer-friendly manner. Supported by the newest digital tools.
